Geomega Resources Inc.: Gold-Bearing Corridor on Anik Increases to 600 Meters
September 30, 2014 (Source: Marketwired) — Highlights of this news release:
- New quartz-pyrite-molybdenum stockwork outcrop grading 1.60 g/t Au located 400 meters S-W of the discovery outcrop
- Second 4 m3 angular block grading up to 2.61 g/t Au located 50 meters S of the discovery outcrop
- Re-sampling of the 200-NE outcrop grading 11.35 g/t and 1.38 g/t Au
- Geophysics groundwork in preparation for diamond drilling completed
Futher to the news releases of August 29 and September 4, 2014, Geomega Resources Inc. (“GéoMégA” or the “Company“) (TSX VENTURE:GMA), is pleased to announce the discovery of a new gold-bearing outcrop extending the mineralized corridor by 350 meters on its Anik property located 40 km south of Chapais, Québec. The four (4) mineralized outcrops, more than 600 meters apart, confirm the extension and gold potential of the corridor. In addition, a second 4 m3 angular block, located 50 meters south of the discovery outcrop (ORBI showing), was mechanically stripped and graded up to 2.61 g/t Au. Finally, a re-sampling of the 200-NE outcrop (Mirador showing) graded 11.35 g/t Au in the quartz vein and 1.38 g/t Au in its host rock. The gold-bearing corridor is located within an important structural zone of the Guercheville/Opawica deformation corridor.
“The latest mineralized outcrop, a quartz-pyrite-molybdenum stockwork in a sedimental unit, confirms the significant hydrothermal activity in this sector of the Guercheville/Opawica deformation corridor. With this outcrop, this sector of the Anik property showcases numerous geological characteristics of the gold mines and deposits present in the deformation corridor. With the ground geophysics work now completed, we will use the October hunting season break to compile the data and to prepare for the initial diamond drilling campaign.” comments Alain Cayer, Vice-President Exploration of GéoMégA.
To view the details of the gold-bearing corridor on the Anik property (maps and pictures), please click on the following link:
Mining claims acquisition
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The Company signed on September 22, 2014 a purchase and sale agreement with arm’s length parties (the “Vendors”) to acquire from Vendors a 100% interest in six (6) mining claims (the “Claims”) contiguous to the Anik property. In consideration for these Claims, GéoMégA has agreed to pay Vendors a cash payment of $2,000 and to issue to Vendors 30,000 common shares of GéoMégA which will be subject to a hold period of four months and one day from the date of their issuance.
Closing of this acquisition remains subject to the approval of the TSX Venture Exchange.
About the Anik property
The Anik property is located 40 km south of the town of Chapais, in Québec and consists of 145 mining claims covering an area of approximately 8,116 hectares. The project benefits from a permanent access, public infrastructure and an experienced workforce in the immediate vicinity.
NI 43‐101 Disclosure
Alain Cayer, P. Geo., MSc., Vice-President Exploration of GéoMégA, is the Qualified Person under NI 43-101 guidelines who supervised and approved the preparation of the technical information in this news release.
All samples have been assayed at the ALS Global laboratory in Val d’Or by standard fire assay followed by atomic absorption and by gravimetry if results are greater than 0.50 g/t Au. A multi-elemental analysis by aqua-regia and spectroscopy (ICP-AES/MS) will be realized at the ALS Global laboratory in Vancouver, for each sample. Quality controls include systematic addition of blank samples and certified gold standards to each batch sample sent to laboratories.
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.
50,431,283 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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