|
MDN
Inc. ("MDN") (TSX:MDN
- News) is pleased to
report the assay results for eight holes, CR-10-153 to CR-10-160, drilled on
the Crevier niobium-tantalum property, located
north of Girardville in Quebec's Saguenay-Lac Saint
Jean region. The Crevier property is 67.5% owned by
MDN Inc. and 32.5% by Iamgold. MDN has the option
to acquire up to 87.5 % of the project once the feasibility study is
completed.
These
eight holes were drilled in 2010 to test the southerly extension of the main
mineralized zone of the Crevier niobium-tantalum
deposit. The 1,063-metre drilling program was carried out as part of work
being done to support the feasibility study currently underway on the Crevier deposit.
The
holes were drilled on four sections 100 metres
apart. All the holes intersected the nepheline syenite dike containing the niobium-tantalum
mineralization, and returned grades similar to those that characterize the
main Crevier deposit. This effectively extends the
mineralized zone 400 metres southward. The Crevier deposit has a current measured and indicated
resource of 25.4 million tonnes grading 0.196 %
Nb2O5 and 234 ppm Ta2O5 (press release dated June 14, 2010).
The
true width of the dike in this area ranges from four to 12 metres.
A
map of the Crevier property, attached to this press
release and also available on our website, shows the portion of the deposit
that is the subject of the feasibility study, as well as the probable
extensions of the mineralized zone to the north and south. The main deposit
is also known to be open at depth, representing additional mineralization
potential.
The
following table shows the results for the eight holes:
----------------------------------------------------------------------------
Crevier Project
2010 Drill Results
----------------------------------------------------------------------------
Hole East
Hole #
Length
UTM North UTM From To Apparent True Nb2O5 Ta2O5
(m)
(m) (m) Width Width % (ppm)
----------------------------------------------------------------------------
CR-10-153 102.00 662723 5480127 64.2 83.9 19.7 12.6 0.089 95
CR-10-154 150.89 662724 5480114 110.4 126.5 16.1 6.8 0.126 137
----------------------------------------------------------------------------
CR-10-155 114.27 662795 5480030 20.3 32.2 11.9 7.7 0.089 60
93.4 104.0
10.6 6.8 0.188 204
------------
CR-10-156 173.62 662781 5480024 130.8 139.5 8.7 4.4 0.048 44
155.7 165.8
10.1 5.1 0.190 182
----------------------------------------------------------------------------
CR-10-157 138.00 662866 5479984 49.5 62.2 12.7 8.2 0.113 151
71.1 82.0 11.0 7.1 0.172 201
------------
CR-10-158 153.00 662866 5479984 114.4 130.2 15.8 7.9 0.227 234
----------------------------------------------------------------------------
CR-10-159 93.00 662949 5479906 67.0 81.8 14.8 9.5 0.184 182
------------
CR-10-160 137.95 662949 5479906 42.3 53.5 11.2 5.6 0.110 93
97.6 122.2
24.6 12.3 0.146 144
----------------------------------------------------------------------------
The
weighted average for each intersection was calculated for analyses lying
within the nepheline syenite
dike.
Crevier
Southerly Extension
On
April 29, 2009, Crevier Minerals Inc. staked 83
cells covering 4,651.74 hectares to the south of the property following the
publication of new lake-bottom sediment geochemical data (Labbe,
2009; document PRO 2009-03, Ministere des Ressources naturelles et de la Faune (MRNF)). The Crevier
property lies in the north-eastern portion of this vast regional survey.
Lake-bottom
sediment samples were analysed by the MRNF for 53
chemical elements. The combined La-Nb-Y map
published in document PRO 2009-03 reveals several anomalies, including one in
the vicinity of the Crevier deposit.
The
property is associated with a linear Nb+/-La+/-Y+/-Sr anomaly. The southern part of the property was staked
in part to extend the original property southward to cover the southern and
south-western extensions of these geochemical anomalies (dike extensions?
alkaline intrusion?). Furthermore, the federal magnetic MAG map indicates
lineaments related to the mineralized dike on the new claims.
"In
combination with the new drill results, these geochemical and geophysical
data compilations show that the potential of the Crevier
mineralized structure has not yet been fully defined, and open up a new area favourable to the discovery of additional
mineralization" said Serge Bureau, MDN's President and Chief Executive
Officer.
Samples
from the drill program were sent to Actlabs
Laboratory in Ancanster, Ontario for preparation
and analysis. The samples were analysed in two
stages. The niobium content was determined by X-ray fluorescence (XRF) and
the tantalum content was analysed by neutron
activation (INAA). A stringent analysis quality verification program was
implemented by EOSGEO, who were responsible for drilling program supervision
and compilation. The technical and scientific information contained in this
press release has been reviewed by Serge Bureau, engineering geologist and
President of MDN Inc., who is a qualified person under National Instrument
43-101.
About
MDN
MDN
Inc. (TSX:MDN - News) is a mining
exploration and development company exploring and developing its exploration
projects in Quebec and Tanzania. MDN also remains active in the search for
new business opportunities that can increase shareholder value. In addition
to its 30% participating interest in the Tulawaka
gold mine, MDN is the operator and owner of a majority interest in mineral
licenses totalling 767 km(2) in the vicinity of the
Tulawaka mine. MDN Inc. also owns a 67.5% interest
in Crevier Minerals Inc. which owns an NI 43-101
niobium-tantalum resource in the Lac-Saint-Jean area of Quebec. MDN has an
option to increase its equity participation in Crevier
Minerals Inc. to a maximum of 87.5%. Additional information is available on
MDN's website at www.mdn-mines.com.
Forward-Looking
Statements All statements in this release, other than statements of
historical fact, that address events or developments that the Company expects
to occur, are forward-looking statements. Although the Company believes the
expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future
performance and actual results may differ materially from those in the
forward-looking statements. Factors that could cause the actual results to
differ materially from those in forward-looking statements are discussed in
greater detail in the Company's most recent Annual Information Form filed on
SEDAR, which also provides additional general assumptions in connection with
these statements. Investors and others who base themselves on the Company's
forward-looking statements should carefully consider the factors mentioned in
the Annual Information Form as well as the uncertainties they represent and
the risk they entail. The Company believes that the expectations reflected in
those forward-looking statements are reasonable, but no assurance can be
given that these expectations will prove to be correct and such
forward-looking statements included in this press release should not be
unduly relied upon. These statements speak only as of the date of this press
release.
The
map of the Crevier property is available at: http://media3.marketwire.com/docs/MDN264.pdf
Contact:
Serge Bureau, Ing.
MDN Inc.
President and Chief Executive Officer
514-866-6500, Ext. 221
Marc Boisvert, Ing.
MDN Inc.
Vice President, Exploration
514-866-6500, Ext. 227
Nicole Blanchard, Investor Relations
Sun International Communications
450-973-6600
nicole.blanchard@isuncomm.com
|