GeoMega Resources has reported the primary results from the phase II drill campaign conducted at the Montviel REE project, which is situated 97 km towards the northern part of Lebel-sur-Quévillon in Québec. The company has intersected 0.75% niobium oxide over 32.9 m and 2% total rare earth oxide (TREO) over 327 m in the hole MVL-11-26.
Simon Britt, GéoMégA’s CEO, has stated that phase II drilling is advancing as per the plan. Preliminary results have validated the expectations to outline an important NI 43-101 measured resource. This resource level along with metallurgical test results will permit the company to skip the pre-feasibility study of preliminary economic assessment needed before the bankable feasibility study.
The company has completed 90 m of drill pattern, totaling 9,100 m, over the main NI 43-101 resources region. Currently, the two drilling rigs are targeting a 45 m in-fill drill model intended to outline a 50 to 70 Mt starter pit in the Montviel ferro-carbonatite core zone’s southwest portion. The company requires the completion of the infill drilling for a calculated 15,700 m over 39 DDH.
GeoMega drilled two explorations DDH at the edge of the NI 43-101 resources region. DDH MVL-11-21 expanded the mineralized carbonatite for around 300 m towards the western part.
The company intercepted three breccias, including 1.07% TREO, 9.4% MHREO/TREO over 47.5 m, in the hole DDH MVL-11-22.
Source: http://www.ressourcesgeomega.com/