MONTRÉAL, QUEBEC–(Marketwired – Sept. 28, 2015) – Geomega Resources Inc. (« GéoMégA » or the « Company ») (TSX VENTURE:GMA) announces the first set of results from its 2015 surface exploration campaign of the gold portfolio. On the Anik property, nearly 240 grab and channel samples originating from 6 new trenches were collected. The trenches were targeting geochemical and geophysical anomalies. Furthermore, trench TR-14-16 has been extended and has now increased the Bobby showing at surface to over 35 m in length. During the 2014 winter exploration campaign, drilling at the Bobby showing returned an intersection of 0.41 g/t Au over 56.5 m including 1.0 g/t Au over 15.0 m.
A new gold zone, the Kovi showing, was identified by the TR-15-27 trench. The 10 m wide zone is hosted within a sedimentary unit exhibiting sericite, ankerite and fuchsite alterations with quartz veins ranging from thin to over 10 cm in thickness. Mineralization, both in the sedimentary unit and in the veins, is present in the form of a trace and up to 10% pyrite, pyrrhotite and arsenopyrite. The most significant results from the Kovi zone include 31.8 g/t Au and 7.23 g/t Au. A summary of gold grades from the 2015 surface campaign on the Anik property is presented in the table below.
“The discovery of this new Kovi gold zone, located only 50 meters to the SE of the ANK-16 drill hole which intersected a 1 meter interval at 19.45 g/t Au within the sedimentary unit at the beginning of the drill hole, is very encouraging. As for the Bobby showing, the gold mineralization associated with the alteration assemblage is extensive, suggesting that promising areas remain to be investigated as we extend the known zones.
The follow-up work on these gold zones confirms the excellent potential of the Anik property and demonstrates the need to continue the exploration work. The Bobby and Kovi showings have a very similar geological context and are located only 600 meters apart. The Anik property, which covers more than 80 km2, has a very favorable geological location and its potential has nowhere near been fully revealed yet. Many high potential targets remain to be investigated.” comments Alain Cayer, Vice-President Exploration of GéoMégA.
Additional follow-up work on the Anik property will be completed this fall. The work will include channel sampling across the Bobby and Kovi mineralized zones. Additionally, depending on the availability of financing, a drilling campaign may be planned to test the extensions of the mineralized showings laterally and at depth.
Two other properties, McDonald and Rivière-à l’Aigle, were explored during the 2015 summer campaign. To date, only a portion of the assays have been received from the 950 samples submitted to the laboratory. These partial results identified several gold anomalies (
|P127551||1.84||20cm||Quartz vein / Gabbro Si Sr Cc 8Py||534503||5477085|
|P127552||6.10||15cm||Quartz vein / Gabbro Si Sr Ak Cc 20Py||534509||5477078|
|R640169||2.00||Grab||Gabbro Ak Si Cl 3Py trPo||534517||5477092|
|R640183||1.65||30cm||Gabbro Cl Ak trPy||534522||5477103|
|R640188||9.39||20cm||Gabbro Ak Si 8Py trCp / Quartz vein||534527||5477095|
|R640190||7.14||40cm||Gabbro Ak Si Sr 4Py trCp / Quartz vein||534525||5477093|
|R640191||3.22||25cm||Gabbro Ak Si Sr 10Py trCp / Quartz vein||534524||5477089|
|R640193||2.84||50cm||Gabbro Ak Si Sr 4Py||534518||5477082|
|R640352||20.20||Grab||Quartz vein / Gabbro Sr Cl 10Py 5As||534528||5477094|
|R640358||1.85||Grab||Gabbro Sr Ak trPy As / Quartz vein||534514||5477080|
|R640362||7.34||40cm||Quartz vein / Gabbro Sr Ak 5Py trAs||534520||5477082|
|R640373||2.82||20cm||Quartz vein / Gabbro Sr Cl Ak trPy||534517||5477082|
|R640314||1.98||Grab||Schist Sr Ak / Quartz vein Ak Py trAs||534912||5477336|
|R640317||7.23||35cm||Quartz vein Fc Sr Ak 7As 1Py||534913||5477340|
|R640322||1.05||20cm||Arenite Si Ak Sr Py trAs Cp||534908||5477353|
|R640323||2.28||15cm||Quartz vein 5Py 2As||534906||5477350|
|R640324||31.80||Grab||Vein Py / Arenite Py||534906||5477350|
|R640331||1.23||40cm||Quartz vein Py Po trAs Cp / Schist Sr Ak trPy||534910||5477336|
|R640381||1.28||15cm||Quartz vein / Arenite||534910||5477395|
|R640211||1.21||Grab||Wacke Ak Cc trPy / Quartz vein Ak trPy||534984||5477426|
CLICK HERE to see the plan view map of the trenches.
About the Anik gold project (100% interest)
The Anik project is located approximately 40 km south of the town of Chapais, Quebec and benefits from permanent access, public infrastructure and skilled labour in the immediate project area.
There are no royalties attached to the property.
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) was completed at the ALS Global laboratory in Vancouver, for many of the samples. 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.
GéoMégA currently has 62,203,116 common shares 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.
President and CEO
GeoMegA Resources Inc.
450-465-0099 ext. 3