September 30, 2010 08:45 ET
MDN Outlines Strong Gold Potential at its Ikungu Project
IKD-45 intersects 8.6 g/t Au over 14.67 m (true width)
MONTREAL, QUEBEC–(Marketwire – Sept. 30, 2010) – MDN Inc. (“MDN”) (TSX:MDN) is pleased to report the assay results for five holes(IKD-40, 41, 42, 43 and 45) of the drilling program currently underway on its Ikungu property. The program consists of a total of 5,000 metres of drilling in 13 holes. The primary goal is to demonstrate that the higher grade mineralized zones identified by MDN near surface during earlier drilling programs are continuous to a vertical depth of 300 metres. Seven of the 13 holes have been completed to date.
|Hole #||Section (m)||From
|1 Note: core length|
|2 Reported previously|
“The results for Hole IKD-45 are very significant, confirming the presence of high-grade zones with impressive thicknesses. We see a parallel between the holes drilled to date and the results of early exploration at the Tulawaka mine, our joint-venture property with African Barrick Gold,” said Marc Boisvert, Vice President of Exploration for MDN.
Hole IKD-45 lies in an undrilled 300-m zone to the west of the 2.5-km long gold-bearing structure, and 160 m west of Hole IK04 (6.74 g/t Au/2.42 m) and 240 m east of Hole IKD08 (10.95 g/t Au/1.99m).
Gold values are associated with the presence of sulphides (over 1% in places), namely pyrite, chalcopyrite, pyrrhotite and arsenopyrite, and a network of small, very homogenous, regularly-spaced bluish-grey quartz veins that represent a total of 10% to 20% of the mineralized zone.
In terms of mineralization, gold values are identical to those seen in Hole IKD-39 (19.26 g/t Au/1.53 m). However, in contrast to the mineralization in Hole IKD-39, here we see a zone with a higher number of quartz veins, forming a stockwork (network of veinlets) where more intense, pervasive silicification superimposes and masks the schistosity.
Hole IKD-44 is presently being sampled, and holes IKD-46 and IKD-47 are 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