September 13, 2010 09:22 ET
MDN Demonstrates the Vertical Continuity of the Ikungu Gold Deposit and Discovers a Mineralized Lens Parallel to the Main Zone
IKD-39 intersects 19.26 g/t Au over 1.53 m (true width), 8.46 g/t Au over 1.37m (true width) in an adjacent zone
MONTREAL, QUEBEC–(Marketwire – Sept. 13, 2010) – MDN Inc. (“MDN”) (TSX:MDN) is pleased to report the assay results for the first two holes (IKD-38 and IKD-39) of the drilling program currently underway on the Ikungu property. The program consists of a total of 5,000 metres of drilling in 13 holes. The primary goal is to demonstrate that higher grade mineralized zones identified by MDN near surface during earlier drilling programs are continuous to a vertical depth of 300 metres.
|*Note: core length|
A longitudinal map of the project is available here
- The IKD-39 intercept lies 250 metres vertically below the Hole IKD-35 intersection grading 2.79 g/t Au over 6.51 m;
- The IKD-39 intercept lies 100 m east and 205 m vertically below the eastern down-dip extension of Hole IKD-36 intercept of 8.02 g/t Au over 2.41 m;
- Holes IKD-39 (19.26 g/t Au over 1.53 m), IKD-32 (8.02 g/t Au over 2.41 m), IKD 35 (2.79 g/t Au over 6.51 m) and IKD 18 (5.79 g/t Au over 2.76 m) indicate the potential of a mineralized lens in the central portion of the gold-bearing horizon traced over 2.5 km;
- The intersection of 8.46 g/t Au over 1.37 m in Hole IKD-39 is a parallel zone in the hangingwall of the main zone. This intersection shows the presence of mineralization parallel to the main mineralization, increasing the potential for discovery of other mineralized zones nearby.
“These early drill results are very encouraging. Hole IKD 39 shows the presence of high grades and vertical continuity at over 300 metres. Furthermore, in compiling all the results to date, we recognize a mineralized zone similar to those discovered at the Tulawaka mine, our joint-venture property with African Barrick Gold,” said Marc Boisvert, Ing., Vice President Exploration for MDN.
Holes IKD-40 and 41 have been completed and are now being assayed, and holes IKD-42 and IKD-43 are presently being drilled.
The samples were analysed by fire assay at the SGS Laboratory of Mwanza, Tanzania, which is certified according to international standards. A rigorous quality analysis verification program implemented by MDN included 10% control samples. The technical and scientific information contained in this press release has been reviewed by Marc Boisvert, engineering geologist and Vice President, Exploration, who acts as a qualified person in accordance with National Instrument 43-101.
MDN Inc. (TSX:MDN) is a mining exploration and development company exploring and developing projects in Quebec and Tanzania. MDN is also 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 703 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 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.niobaymetals.com.
Forward-Looking Statements Other than statements of historical fact, all statements in this release that address events or developments that the Company expects to occur are forward-looking statements. Although the Company believes that 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 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.
- 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