43-101 AND PEA!
Updated NI 43-101 compliant resource estimate
The initial NI 43-101 resource estimate was published in September 2011 (see September 28 and November 14, 2011 press releases for details). With the Phase 2 and Phase 3 diamond drilling programmes completed respectively in April 2012 and December 2013, the Company has better defined and expanded the Montviel mineralised envelop. The publication of an updated NI 43-101 compliant resource estimate is expected around the same time as the PEA. It will include the results from Phase 2 and Phase 3 drilling programmes and the cut-off grade will be adjusted from open pit mining to underground (ramp access) mining. In addition, the updated resource estimate will highlight mineralisation of the Core Zone, the enrichment zone and the HRE-S Zone.
Preliminary Economic Assessment
G Mining Services Inc. ("G Mining") and Golder Associates Ltd. ("Golder") have been retained to complete a PEA (see January 10, 2012 and March 20, 2012 press releases).
The PEA will include the following assumptions:
The mine design uses an underground approach via ramp access with paste backfill minimizing the environmental impacts;
An initial annual production in the range of 2,000 tonnes of neodymium oxides;
Anticipated project energy would be provided by the Hydro-Québec distribution grid using an average power line.
The PEA results are expected in the first quarter of calendar 2014.
Read more at
https://www.stockhouse.com/companies/bullboard/v.gma/geomega-resources-inc#rDFKgvbI8xhXdeXR.99