March 24, 2011 08:15 ET
MDN Reports Continuity of the MCGold Deposit to the West
MONTREAL, QUEBEC–(Marketwire – March 24, 2011) – MDN Inc. (TSX:MDN)
1206-10-35: 1.16 g/t Au over 29.2 metres
1206-10-36: 1.18 g/t Au over 9.5 metres
1206-10-39: 1.26 g/t Au over 7.5 metres
1206-10-40: 2.05 g/t Au over 12.0 metres
MDN Inc. (“MDN”) is pleased to report the assay results for the most recent holes (1206-10-35 to 1206-10-40) drilled on its MCGold propertynear Chibougamau, Quebec. MDN holds an option to acquire a 50% interest in the MCGold property held by SOQUEM Inc.
The drilling shows that the high-tonnage, low-grade type mineralization extends westward. The six holes tested two sections in the western part of the deposit, where the resources for this part of the deposit are poorly defined.
- 1206-10-35 (1.16 g/t Au over 29.2 metres) and 1206-10-36 (1.18 g/t Au over 9.5 metres) confirm the western extension of the deposit.
- 1206-10-40 (2.05 g/t Au over 12.0 metres) is an intersection located to the northwest, outside the known resource block. These results indicate the presence of another zone, and show that the deposit is open to the northwest for the discovery of new mineralized zones.
MDN is confident that the mineralization extends to the west and northwest, and future work will be aimed at outlining the mineralized extensions. The 2010 results will be incorporated into the existing block model over the coming weeks in order to orient future exploration drilling. The goal is to determine the priority areas for the discovery of new mineralized zones.
A one-km undrilled area has already been identified between historical holes 1206-05-22 (0.79 g/t Au over 28.7m), 1206-00-03 (1.0 g/t Au over 27m) and the western edge of the deposit. (see surface map)
The samples were analysed by fire assay at the Techni-lab Laboratory in Sainte-Germaine Boulé, Quebec, which is certified according to international standards. A rigorous quality controls program implemented by SOQUEM included the insertion of blank or standard control samples every 50 samples, and systematic requests for resampling of the first pulp as well as of a second pulp prepared with the rejects for gold values higher than 0.5 g/t. The technical and scientific information contained in this press release has been reviewed by Marc Boisvert, geologist engineer and Vice President, Exploration, who acts as a qualified person in accordance with National Instrument 43-101.
SOQUEM INC. is a wholly owned subsidiary of the Société générale de financement du Québec (“SGF”). The mission of the SGF, an industrial and financial holding company, is to undertake economic development projects, particularly in the industrial sector, in cooperation with partners and in compliance with accepted profitability requirements and the economic development policies of the Quebec Government.
MDN Inc. (TSX:MDN) is a mining exploration and development company with exploration and development projects in Québec 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 757 km2 in the vicinity of the Tulawaka mine. MDN Inc. also owns a 72.5% interest in Crevier Minerals Inc. which in turn 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 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.
A map is available at the following link: http://media3.marketwire.com/docs/mapmdn0324.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
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