GeoMega announces pre-development agreement with Crees for Montviel project

GeoMega Resources (CVE:GMA) reported Thursday that it has inked a pre-development agreement with the Grand Council of the Crees and the Cree First Nation of Waswanipi for its Montviel rare earths project in the Abitibi region of Quebec.
The pre-development agreement has been developed on the principle of mutual respect between both parties, in seeing the establishment of a successful mining venture at Montviel, the company said in a statement.
The agreement is the result of a collaboration that began last year, while the company prepared for the start up of phase one drilling at Montviel.
In a statement, GeoMega’s chief executive, Simon Britt, said: "This significant milestone, achieved early in the development of Montviel and illustrates our dedication to social and environmental respect."
Chief Paul Gull, from the Cree First Nation of Waswanipi, added: "The signing of this agreement ensures that there will be meaningful participation by our local members without sacrificing sustainability. It is an important step for all parties."
GeoMega said that during the period of pre-development activities, the agreement will provide the Cree with jobs and opportunities leading up to a potential production decision for the project.
Additionally, the agreement provides Cree assistance in the preparation of an environmental and social impact assessment for Montviel.
The company said that Montviel has the potential to play a major role in clean technologies due to its proximity to infrastructure and available labour. An initial NI 43-101 resource calculation totalled 183.9 million tonnes averaging 1.45 percent total rare earth oxides (TREO), in the indicated category, and 66.7 million tonnes averaging 1.46 percent TREO, in the inferred category.
GeoMega, which owns 100 percent of the Montviel property, is a young Québec mining exploration company focused on finding deposits of elements needed by clean technologies.