Geomega Resources Inc.: $204,500 Grant for Montviel Geochemistry
May 27, 2015 (Source: Marketwired) — Highlights of the news release:
- $204,500 grant from Natural Sciences and Engineering Research Council of Canada;
- Professors Benoît Plante and Mostafa Benzaazoua of the Université du Québec en Abitibi-Témiscamingue (“UQAT“) in charge of the program;
Geomega Resources Inc. (“GéoMégA” or the “Company“) (TSX VENTURE:GMA) announces that professors Benoît Plante and Mostafa Benzaazoua of the UQAT received a $ 204,500 grant from Natural Sciences and Engineering Research Council of Canada (“NSERC“) to study the geochemical behavior of rare earth elements (“REE“) mines discharges. The work, realized from the ore of the Montviel REE and niobium project, will help predict the geochemical behavior of mining discharge carrying REE.
“The work to be performed thanks to the grant is part of our geochemical characterization program for the Montviel project, ongoing for more than 3 years. With the process flow sheet now completed, targeted work will be used to predict the geochemical behaviour of the tailings and different lithologies of the Montviel project for sound environmental management. Overall, the expertise and scientific data collected as part of our geochemical characterization program will be put at the disposal of the different researchers and governmental bodies in charge of establishing environmental criteria for the mining of REE deposits.” comments Mia Pelletier, chief geologist and geochemist of GéoMégA.
About the Montviel rare earth element and niobium project
The Montviel project, 100% owned by the Company, is located approximately 100 km north of Lebel-sur-Quévillon and 45 km west of the Cree First Nation of Waswanipi in the urbanized southern part of Northern Québec. Montviel benefits from permanent road access, public infrastructure and skilled labour in the immediate project area. The initial NI 43-101 resource estimate published in September 2011 identified (base case) 445,958 tonnes of neodymium oxide in the indicated category and 160,347 tonnes of neodymium oxide in the inferred category. The updated NI 43-101 resource estimate is expected next month.
About the Université du Québec en Abitibi-Témiscamingue (“UQAT”)
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Established in 1983, the Université du Quebec in Abitibi-Témiscamingue offers over a hundred programs in undergraduate and graduate levels in different fields: administration, art therapy, accounting, digital creation, 3D and video games, education, forest, engineering, mining and environment, psycho-education, health and safety at work, nursing and clinical and social work. With an annual research volume of more than $ 10 million, UQAT has 10 research chairs and 11 research units in relation to the priority niches for its territorial ties. More specifically, the expertise in environment and management of tailings of UQAT is recognized worldwide among other things by its work in the context of the UQAT-Polytechnique research in mining and environment Institute.
Research that are carried out respond to global issues in the mining sector by the development of concrete solutions across the life cycle of a mining project.
NSERC aims to make Canada a country of discoverers and innovators for the benefit of all Canadians. The agency supports university students in their advanced studies, promotes and supports discovery research, and fosters innovation by encouraging Canadian companies to participate and invest in postsecondary research projects. NSERC researchers are on the vanguard of science, building on Canada’s long tradition of scientific excellence.
About GéoMégA (www.geomega.ca)
GéoMégA is a mineral exploration and evaluation company focused on the discovery and sustainable development of economic deposits of metals in Québec. GéoMégA is committed to meeting the Canadian mining industry standards and distinguishing itself with innovative engineering, stakeholders’ engagement and dedication to local transformation benefits.
56,989,560 common shares of GéoMégA are currently issued and outstanding.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautions Regarding Forward-Looking Statements
This news release contains forward-looking statements regarding our intentions and plans. The forward-looking statements that are contained in this news release are based on various assumptions and estimates by the Company and involve a number of risks and uncertainties. As a consequence, actual results may differ materially from results forecasted or suggested in these forward-looking statements and readers should not place undue reliance on forward-looking statements. We caution you that such forward-looking statements involve known and unknown risks and uncertainties, as discussed in the Company’s filings with Canadian securities agencies. Various factors may prevent or delay our plans, including but not limited to, contractor availability and performance, weather, access, mineral prices, success and failure of the exploration and development carried out at various stages of the program, and general business, economic, competitive, political and social conditions. The Company expressly disclaims any obligation to update any forward- looking statements, except as required by applicable securities laws.
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