June 25, 2015 11:00 ET
Confirmation of High-Grade Niobium Showings And Discovery of New Carbonatites
MONTREAL, QUEBEC–(Marketwired – June 25, 2015) – MDN Inc. (TSX:MDN) (the “Company”) is pleased to announce the results of a preliminary sampling of the known niobium showings, with grab samples grading up to 1.58% of niobium pentoxide (Nb2O5), and the discovery of new carbonatites occurrences on the Prairie lake Properties, near Marathon, Ontario.
The company received the final assay results of a grab sampling program done during MDN’s first field visit in mid-May 2015. On site 28, sampling of a 30 to 40 centimetres thick ferro-carbonatite dyke in blasted pits number 1 and 2 gave 1.58% and 0.91% Nb2O5 respectively. The two pits are nine metres apart and the dyke is striking east-west with a dip of 40 to 45 degrees to the north. Assaying of the brecciated wall-rock of the dyke shows values of 0.06 and 0.39% Nb2O5. Sampling of three other small blasted pits 17 metres north, 30 metres north-north-west and 65 metres north-west of pit 1 gave 0.63%, 0.22% and 0.27% Nb2O5. These three pits were too small and dirty to properly determine the thickness and attitude of the carbonatite. In the same sector, prospector Rudy Wahl had previously sampled ten occurrences (blasted pits, sub-cops and boulders) all giving assays over 0.12% Nb2O5, with best values of 0.59%, 0.66%, 0.70%, 0.80%, 0.99% and 1.63% Nb2O5.
At site 21A, some six kilometres due south of site 28, a proximal boulder of ferro-carbonatite assayed 0.67% Nb2O5 where M. Wahl had previously got 0.98% Nb2O5.
A detailed mapping and sampling field program is well under way. All the previously discovered showings were dig-out, exposed and hand cleaned in order to perform detailed mapping and sampling. A first batch of 70 samples was sent to the lab last week and results are expected in a couple of weeks.
Meanwhile, prospecting for new occurrences led to the discovery of half a dozen new carbonatite dykes. Most are made of calcio-carbonatite (almost pure calcite) which will most likely return low niobium values. On the other hand, at least two are ferro-carbonatites. Of particular interest is a five by five metres area, about 90 metres south of site 28, where half a dozen dig-out holes through 50 to 80 centimetres overburden show a nice looking massive ferro-carbonatite. A stripping and channel sampling program of all areas of interest will begin this week.
“We are pleased with the confirmation assays results taken on the various area of interest on the property. Furthermore, the discovery of new carbonatite dykes strengthens our view on the quality of the Prairie Lake property and we are looking forward to receive additional results from the mapping and sampling program,” commented Mr. Claude Dufresne.
The Prairie Lake property is located about 45 kilometers northwest of the city of Marathon, Ontario, Canada. Earlier this year, MDN signed two option agreements to acquire 100% of the Prairie Lake and Prairie Lake South properties (see the February 24, 2015 press release).
All samples were sent at Activation Laboratory (Actlabs), in Thunder Bay, an ISO 17025 accredited laboratory. First pass assaying was with ActLabs’s ICP lithogeochemistry package 4B2-std and all samples giving more than 1,000 ppm niobium were re-assayed by XRF on fused borate beads to give precise quantitative Nb2O5 results.
Jacquelin Gauthier, P. Geo., P. Eng., acted as the qualified person as defined in National Instrument 43-101. He planned and is supervising the actual field program. He reviewed and approved the technical and scientific content of this press release.
About MDN (TSX:MDN)
MDN Inc. is a mining exploration and development company with properties in Quebec, Ontario and Tanzania. In Quebec, MDN holds a 72.5% interest in Crevier Minerals Inc., which owns a NI 43-101 niobium-tantalum resource and 100% of the Samaqua property. The Company also has the option to acquire a 100% of the Prairie Lake properties in Ontario.
This press release contains forward-looking statements. 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. 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 as such, the forward-looking statements in this press release should not be unduly relied upon. These statements speak only as of the date of this press release.
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