Geomega Resources Inc.: Montviel Process Flow Sheet Completed
April 16, 2013 (Source: Marketwire) Montreal, QC — Geomega Resources Inc. (“GéoMégA” or the “Company”) (TSX VENTURE:GMA) announces it has finalized the process flow sheet to recover rare earths as a concentrate at its Montviel Rare Earths/Niobium deposit located near Lebel-sur-Quévillon, Québec.
- average 83% overall recovery for Neodymium, Europium, Praseodymium and Gadolinium
- average 64% overall recovery for Dysprosium
- average 45% overall recovery for Yttrium
- average 93% overall recovery for Niobium (after rare earths leaching)
Mixed rare earths concentrate process flow sheet
Beneficiation tests optimizing the recovery of both rare earths and niobium are now completed. Hydrometallurgical tests to produce standard grade mixed rare earths concentrate are also completed. Tests to produce a niobium concentrate from liberated pyrochlore in the leaching residue are nearing completion. G Mining Services Inc., SGS Minerals in Lakefield and CANMET in Ottawa have developed the process flow sheet including: flotation, leaching (early high purity rare earths extraction), HCl regeneration and precipitation.
“The final Preliminary Economic Assessment (“PEA”) process flow sheet design significantly reduces reagents consumption and handling. Excellent recoveries of economic elements are confirmed. Further improvements in recoveries, reagents reduction and additional economic elements are possible and will be confirmed at the piloting stage.” comments Simon Britt, President and CEO of GéoMégA.
About the Montviel Rare Earths/Niobium deposit
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The Montviel project benefits from permanent access, public infrastructure and available labour in the immediate area. A PEA by G Mining Services Inc. is expected in the upcoming months. Anticipated project energy will be provided by the Hydro-Québec distribution grid.
NI 43‐101 Disclosure
Ahmed Bouajila, Eng., Vice-President – Metallurgy and Mineral processing at G Mining Services Inc., is the Qualified Person who supervised and approved the preparation of the technical information presented in the “Highlights” section of this news release.
GéoMégA, which owns 100% of the Montviel Rare Earths/Niobium project, is a Québec mineral exploration and development company focused on the discovery and sustainable development of economic deposits of minor metals, such as Rare Earth Elements, Niobium and Graphite, in Québec. GéoMégA is committed to meeting Canadian mining industry standards and distinguishing itself with its expertise, know-how and its support and respect for local communities and the environment.
GéoMégA currently has 34,740,113 common shares issued and outstanding.
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 forecast 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.
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.
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