February 03, 2011 07:09 ET
MDN Confirms That the Niobium-Tantalum Mineralization Extends More Than 400 m South From the Crevier Deposit
MONTREAL, QUEBEC–(Marketwire – Feb. 3, 2011) – MDN Inc. (“MDN”) (TSX:MDN) 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:
|2010 Drill Results|
|Hole #||Hole Length||East
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 (Labbé, 2009; document PRO 2009-03, Ministère 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.
MDN Inc. (TSX:MDN) 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 km2 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 Québec. 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.niobaymetals.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
- MDN Inc.
Serge Bureau, Ing.
President and Chief Executive Officer
514-866-6500, Ext. 221
Marc Boisvert, Ing.
Vice President, Exploration
514-866-6500, Ext. 227
Sun International Communications
Nicole Blanchard, Investor Relations