October 02, 2012 07:00 ET
MDN Identifies 4 Important Gold Anomalies on its Ikungu Property in Tanzania
MONTREAL, QUEBEC–(Marketwire – Oct. 2, 2012) – Following the discovery of a volcanic belt measuring 15 km in length located to the east of the Ikungu mineralized zone in Tanzania (see press release dated September 11, 2012), MDN (TSX:MDN) completed a soil geochemical survey on its Ikungu East property. The objective of these works was to determine the gold potential of this belt, which had never been the object of important exploration works in the past.
The survey was carried out on lines spaced at every 800 meters and it identified four (4) zones formed of samples enriched with gold and located in 3 to 4 consecutive lines of sampling. The lengths of these zones vary from 1.5 km to 3.0 km and were delimited with gold values varying between 25 ppb Au and 1500 ppb. The lengths of these four anomalies and their locations are indicated on the following map.
“This grouping of auriferous values is considered an important anomaly when one compares them to the historic soil sampling results leading to the discovery of mines presently in production in Tanzania. For example, more than 60% of the reserves at Geita mine were initially discovered by the drilling of a soil anomaly of 80 ppb Au. The anomalies at Ikungu East are similar to the dimensions and qualities of the anomalies found at our Ikungu project located more to the west” declared Marc Boisvert, Vice President Exploration for MDN.
A more detailed soil geochemical survey with lines spaced every 400 meters is presently underway to confirm and to define with more precision the anomalies that will be the object of the next drilling program.
The samples were analyzed by “Aqua Regia Synopsis Solvent Extraction Au AAS 1 ” at the SGS Laboratory of Mwanza [Tanzania], which is certified according to international norms. A rigorous program for the verification of the analytical quality was set up by MDN and includes 10% of control samples. Technical and scientific information given in this press release were reviewed by Marc Boisvert, engineer geologist and Vice President Exploration, acting as qualified person in accordance with the Canadian norm NI 43-101.
MDN Inc. (TSX:MDN) is a mining exploration and development company with properties in Quebec and Tanzania. In Tanzania, MDN has a 30% participating interest in the Tulawaka gold mine, which produced over 84,000 ounces of gold in 2011, as well as two promising gold projects, Ikungu and Nikonga. In Quebec, MDN owns a 72.5% interest in Crevier Minerals Inc., which owns an NI 43-101 niobium-tantalum resource that is presently at the feasibility study stage.
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
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Claude Dufresne, Ing.
President and Chief Executive Officer
Tel.: 514 866-6500, Ext 221