March 31, 2014 08:33 ET
MDN Inc. Reports Increasing Evidence of a Large Gold-Bearing System at its Nikonga Project
MONTREAL, QUEBEC–(Marketwired – March 31, 2014) – MDN Inc. (“MDN”) (TSX:MDN) reports that it has completed the interpretation of field work done on the Nikonga property in 2013. The results indicate that the 2012 drill discoveries are part of a single gold-bearing system 2.0 km in diameter. A combination of a geochemical soil survey and a soil acidity survey has delineated a circular gold/copper/molybdenum-enriched zone associated with high soil acidity. This soil anomaly covers all the gold-bearing intersections obtained in 2012, which returned grades ranging from 1.86 g/t Au to 14.5 g/t Au over lengths of 1 to 10 metres.
The 2012 drill results showed that the mineralization is associated with quartz-tourmaline veins and zones of sheared volcanics with quartz veinlets and sulphides, lying between felsic quartz-feldspar porphyry dykes.
In combination with drillhole geology and the ground magnetic survey, outcrop mapping indicates the presence of a deformation corridor over 1 km wide that crosses the property from east to west over a distance of more than 7 km. This corridor contains foliated, schistose and sheared rocks. The corridor represents the contact between the mafic volcanic rocks of the Nyanzian Group and the Kavirondian Group sediments. The latter are considered the equivalent of the Timiskaming sediments of the Timmins mining camp in Ontario, Canada, recognized as a key feature of the large gold mines.
Drill targets: Several lineaments with gold-enriched soils were detected in the most acidic zone and at the heart of the anomaly Au-Cu-Mo. These lineaments range in length from 500 metres to over 1.5 km and are parallel to each other. These are high-quality drill targets that could lead to the discovery of gold-bearing quartz-tourmaline veins and shears with sulphides. Moreover, some of these lineaments coincide with gold-bearing drill intersections obtained in 2012. All these lineaments are high-quality drill targets for the discovery of additional gold zones.
2012 intersections associated with these lineaments
The results of holes NKD-05 (9.88 g/t Au / 4.2 m) and NKD-04 (1.73 g/t Au / 12.35 m, including 17.35 g/t Au / 1 m) confirm MDN’s discovery in Hole NKD-02, with 12.3 g/t Au / 4.2 m and 10.9 g/t Au / 4.9 m (press release dated March 27, 2012) in the southern portion of the property. Hole IKD-07 (1.39 g/t Au /2.6m and 2.6 g/t Au / 3.0m), adjacent to Hole NKRC-14 (14.5 g/t Au over 2.00 m and 9.34 g/t Au over 1.0 m), confirms the structures farther north.
In addition to numerous gold-bearing lineaments and the size of the 2-km diameter gold/copper/molybdenum soil anomaly, the following features support a parallel with the Timmins mining camp in Canada, which hosts a number of world class gold mines. These similarities with the large deposits in Timmins support the field evidence of a large system.
|(1)||Presence of quartz-tourmaline veins and gold-bearing pyrite shears between felsic porphyry dykes. The presence of felsic porphyry is a key feature of the three largest gold deposits in Timmins.|
|(2)||A gold/copper/molybdenum soil enrichment that forms a circular anomaly 2 km in diameter. Canada’s largest gold mine, the Hollinger mine (more than 19 million ounces of gold) is enriched in the same elements.|
|(3)||A deformation corridor marking the volcanic/sedimentary contact, which could be a regional discontinuity. The gold deposits in the Abitibi and Western Australia are similarly located near a discontinuity.|
|(4)||The presence at Nikonga of Timiskaming-type sediments that occur in the vicinity of major deposits.|
These geological observations indicate a parallel with gold deposit in Timmins, Canada, especially at the Hollinger-McIntire, Dome and Pamour mines, which are world-class deposits associated with porphyry dykes and/or a porphyry intrusive. These mines lie at the edge of a discontinuity, at the contact between volcanic and sedimentary rocks.
With a gold project of this quality, the Company is continuing to seek a partner for 2014 and/or the appropriate financing once the market turns around.
About MDN (TSX:MDN)
MDN Inc. is a mining exploration and development company with properties in Quebec and Tanzania. In Quebec, MDN holds a 72.5% interest in Crevier Minerals Inc., which owns an NI 43-101 niobium-tantalum resource that is presently undergoing a feasibility study.
Marc Boisvert, President and CEO of MDN, is a qualified person as defined in National Instrument 43-101. He has reviewed the scientific and technical information in this news release.
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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, including but not limited to, 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.