June 13, 2011 07:00 ET
MDN Stakes 98 km2 of Strategic Ground Southeast of Crevier
Identifies a carbonatite-type magnetic signature similar to Niobec
MONTREAL, QUEBEC–(Marketwire – June 13, 2011) –
Editors Note: There is a map associated with this press release.
MDN Inc. (“MDN”) (TSX:MDN) is pleased to report that it has acquired 175 claims covering 98 km2 southeast of the Crevier niobium-tantalum project. This new acquisition means that MDN now controls the ground covering a magnetic geophysical response similar to the one associated with the Niobec niobium mine. The magnetic signature lies 23 km southeast of the Crevier deposit and 130 km northwest of the Niobec mine and the property has been namedSamaqua.
“We have several good reasons to enlarge the footprint of the Crevier project,” said Serge Bureau. “We are in the advanced feasibility study stage, and we recognize that the magnetic signature to the southeast of the project could correspond to another carbonatite-type mineralization with a rare-earth core. Furthermore, it is related to the Crevier deposit via a lineament corresponding to the southeast extension of the Crevier dike. This would mean timely growth for our project given the development of new modern applications for strategic metals.”
MDN staked this strategic position following its analysis of geophysical mapping of the airborne magnetic map published by the Canadian government and the compilation of previous work in the area.
A magnetic signature similar to the Niobec magnetic response has been identified, with a halo of high magnetic intensity surrounding a low-intensity core. In the case of Niobec, the core corresponds to a niobium carbonatite with a rare-earth centre.
The circular anomaly lies at the southeast end of a lineament visible on the geophysical maps. The lineament coincides with the porphyry syenite dike hosting the Crevier deposit and could be the southeast extension of the dyke, in which case the two systems would be related.
The new claims also lie within part of a structural corridor that includes the Saint-Honoré (Niobec) and Crevier carbonatites in the Grenville Province and the Lac Shortt and Montviel carbonatites in the Abitibi.
Historical prospecting work located pegmatitic syenite outcrops within the magnetic halo, which is highly indicative of the presence of an alkaline intrusive favourable to metals like those at Crevier (niobium-tantalum) and /or Niobec (niobium and rare earths).
Reconnaissance work will be carried out on the property during the year to confirm the presence of a carbonatite and its metal content. This work will also enable the Company to verify whether the Crevier mineralized dyke and this circular anomaly are interrelated, as suggested by the presence of the lineament.
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.
MDN Inc. (TSX:MDN) is a mining exploration and development company exploring and developing projects in Quebec and Tanzania. The company is also active in the search for new business opportunities that can increase shareholder value. As well as holding a 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 owns an NI 43-101 niobium-tantalum resource in the Lac-Saint-Jean area of Quebec. MDN has an option to increase its interest in Crevier Minerals Inc. to 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.
To view the map associated with this press release, please visit the following link:http://media3.marketwire.com/docs/mdna0613.pdf
Serge Bureau, Ing.
President and Chief Executive Officer
514 866-6500, Ext. 221
Marc Boisvert, Ing.
Vice President, Exploration
514 866-6500, Ext. 227
Nicole Blanchard, Investor Relations
Sun International Communications