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March 27, 2012 08:15 ET
MDN’s Initial Drilling Campaign at Nikonga Intersects 12.3 g/t Au Over 4.2 Meters and 10.9 g/t Au Over 4.9 Meters
MONTREAL, QUEBEC–(Marketwire – March 27, 2012) –
Editors Note: There is a map associated with this press release.
MDN Inc. (“MDN”) (TSX:MDN) is pleased to report that it has received the assay results for all the holes of its first 2012 drill program at the Nikonga gold project in Tanzania. MDN owns 100% of the project.
These results confirm the presence of high-grade gold mineralization in the Kezeria Main structure, located 500 meters south of Kezeria North structure, for which results were reported in a previous press release (March 1, 2012). Hole NKD-02 returned two mineralized intervals, an eight-meter long vein of quartz tourmaline and a 4.9-meter section of felsic porphyry intrusive with quartz tourmaline veinlets. Hole NKD-02 stopped at 112 meters in a quartz tourmaline gold-bearing zone in a quartz feldspath porphyry intrusive, with the last sample at the bottom of the hole returning a grade of 13.1 g/t Au over one meter. Our priority is to resume drilling as soon as the rainy season allows us to remobilise the drill rig, with a proposed aggressive drilling program.
To access drill results map, follow this link: www.niobaymetals.com/pdf/cartes/Nikonga_2012_Drill_Results.pdf
The drill program revealed three styles of mineralization:
- Quartz veinlets (stockwerk) in argillite shale rock,
- Massive quartz-tourmaline veins, and
- Quartz tourmaline veinlets in quartz porphyry intrusive.
The three styles of mineralization form two gold bearing structures 500 meters apart, located adjacent or parallel to a quartz feldspath porphyry intrusive with gold-enriched quartz-tourmaline veinlets.
“The presence of several styles of mineralization, the quality of the assay results and the geological setting are all indications of the existence of a significant gold-bearing system, a discovery for MDN,” said Marc Boisvert, MDN’s Vice President of Exploration.
The Nikonga property is located 40 km along strike southeast of the Tulawaka mine in Tanzania, 30% owned by MDN.
Kezeria Main structure results
| Hole # | Easting (m) |
Northing (m) |
From (m) |
To (m) |
Grade (g/t Au) |
Interval *(m) |
| NKD-02** | 369751 | 921340 | 92.30 | 96.50 | 12.27 | 4.2 |
| 107.10 | 112.00 | 10.87 | 4.9 | |||
| NKRC-01** | 369823 | 9621322 | 55.00 | 65.00 | 1.86 | 10.0 |
| ** | Hole needs to be deepened |
Kezeria North structure results
| Previously reported on March 1st 2012 | ||||||
| Hole # |
Easting (m) |
Northing (m) |
From (m) |
To (m) |
Grade (g/t Au) |
Interval *(m) |
| NKRC-14 | 369 000 | 9 621 799 | 53.00 | 59.00 | 5.51 | 6.0 |
| Including | 53.00 | 55.00 | 14.50 | 2.0 | ||
| 55.00 | 59.00 | 1.16 | 4.0 | |||
| 63.00 | 64.00 | 9.34 | 1.00 | |||
| NKRC-05 | 369 200 | 9 622 153 | 39.00 | 44.00 | 3.20 | 5.0 |
| NKRC-06 | 369 200 | 9 622 093 | 42.00 | 43.00 | 5.60 | 1.00 |
| * | Note: Intervals are core length; true widths are not yet known. |
NKD-02 (10.87 g/t Au over 4.9 m and 12.3 g/t Au over 4.20 m). The diamond drill hole tested the gold-bearing Kezeria Main structure, where previous grab samples graded from 4.32 g/t to 33.05 g/t Au. From 86.5 m to 92.3 m a strong shear zone (mylonite) with quartz veins was intercepted with assays averaging 2.02 g/t Au over 3.9 meters. At 92.3 m, the hole intersected an 8-m wide quartz vein with tourmaline averaging 12.27 g/t Au over 4.2 m. The hole ended in a quartz feldspath porphyry intrusive, at 112.0 meters, in a gold-bearing zone of quartz-tourmaline veinlets averaging 10.87 g/t Au over 4.9 m. Given the location of the surface grab samples and the gold-bearing drill intersections, the zone is interpreted as dipping north at 70 to 85 degree. Including all the low grade material between the three main ore zone, the overall grade for the section between 86.5 m to 112 m is averaging 4,39 g/t Au over 26.0 meters.
NKRC-01 (1.86 g/t Au over 10.00 m) is a reverse circulation (RC) hole located in the most eastern part of the Keseria Main structure, 75 meters east of NKD-02. This hole intersected a 2-m quartz tourmaline vein at the contact of a sheared argillite shale and a carbonate-altered felsic intrusive. It also cut a gold-bearing zone at the north contact of the felsic intrusive, while NKD-02 intersected mineralization in the felsic intrusive. The gold-bearing interval intersected in Hole NKD-02 was interpreted as being located deeper in Hole NKRC-01. Hole NKRC-01 would therefore need to be extended to reach the eastern extension of this gold-bearing zone.
NKRC-03, 04, and 16 were RC holes lost due to poor rock conditions or dikes in the first 40 meters, and did not succeed to reach the target. They were drilled to test the western extension. All these holes will be re-drilled using diamond drilling equipment in the next program. The NKD-02 intersection is associated with a soil anomaly that extends 2 km westward and remains untested.
Drill Results
| Hole # |
Easting (m) |
Northing (m) |
From (m) |
To (m) |
Grade (g/t Au) |
Interval *(m) |
Remarks |
| NKD-02 | 369 751 | 9 621 340 | 86.00 | 112.00 | 4.39 | 26.0 | |
| including | 86.00 | 89.90 | 2.02 | 3.90 | |||
| 86.00 | 86.50 | 0.640 | 0.50 | Shear Zone (mylonite) | |||
| 86.50 | 87.50 | 0.040 | 1.00 | ||||
| 87.50 | 88.40 | 0.090 | 0.90 | ||||
| 88.40 | 88.90 | 7.760 | 0.50 | ||||
| 88.90 | 89.90 | 3.560 | 1.00 | ||||
| 89.90 | 90.80 | 0.080 | 0.90 | Shear Zone Dilution | |||
| 90.80 | 91.70 | 0.020 | 0.90 | ||||
| 91.70 | 92.30 | 0.020 | 0.60 | ||||
| 92.30 | 96.50 | 12.27 | 4.2 | ||||
| including | 92.30 | 93.00 | 11.200 | 0.70 | Quartz tourmaline vein | ||
| 93.00 | 93.90 | 39.050 | 0.90 | ||||
| 93.90 | 94.50 | 1.150 | 0.60 | ||||
| 94.50 | 95.00 | 0.800 | 0.50 | ||||
| 95.00 | 95.50 | 8.570 | 0.50 | ||||
| 95.50 | 96.00 | 5.060 | 0.50 | ||||
| 96.00 | 96.50 | 1.300 | 0.50 | ||||
| 96.50 | 97.00 | 0.090 | 0.50 | Dilution Zone | |||
| 97.00 | 97.50 | 0.150 | 0.50 | ||||
| 97.50 | 98.00 | 1.160 | 0.50 | ||||
| 98.00 | 98.50 | 0.130 | 0.50 | ||||
| 98.50 | 99.00 | 0.820 | 0.50 | ||||
| 99.00 | 99.50 | 0.020 | 0.50 | ||||
| 99.50 | 100.60 | 0.040 | 1.10 | ||||
| 100.60 | 101.60 | 0.030 | 1.00 | ||||
| 101.60 | 102.60 | 0.030 | 1.00 | ||||
| 102.60 | 103.50 | 0.030 | 0.90 | ||||
| 103.50 | 104.40 | 0.020 | 0.90 | ||||
| 104.40 | 105.30 | 0.030 | 0.90 | ||||
| 105.30 | 106.20 | 0.030 | 0.90 | ||||
| 106.20 | 107.10 | 0.020 | 0.90 | ||||
| 107.10 | 112.00 | 10.87 | 4.9 | ||||
| including | 107.10 | 108.00 | 2.220 | 0.90 | Quartz-feldspath porphyry with quartz-toumaline veinlets | ||
| 108.00 | 109.00 | 6.915 | 1.00 | ||||
| 109.00 | 110.00 | 26.450 | 1.00 | ||||
| 110.00 | 111.00 | 4.810 | 1.00 | ||||
| 111.00 | 112.00 | 13.100 | 1.00 | ||||
| NKRC-01 | 369823 | 9621322 | 55.00 | 65.00 | 1.86 | 10.0 | |
| including | 55.00 | 56.00 | 1.270 | 1.00 | Shale argilite | ||
| 56.00 | 57.00 | 1.410 | 1.00 | ||||
| 57.00 | 58.00 | 1.310 | 1.00 | ||||
| 58.00 | 59.00 | 1.355 | 1.00 | Felsic Intrusive | |||
| 59.00 | 60.00 | 0.600 | 1.00 | ||||
| 60.00 | 61.00 | 4.190 | 1.00 | ||||
| 61.00 | 62.00 | 0.160 | 1.00 | Quartz vein | |||
| 62.00 | 63.00 | 1.620 | 1.00 | ||||
| 63.00 | 64.00 | 0.050 | 1.00 | Felsic Intusive | |||
| 64.00 | 65.00 | 6.680 | 1.00 | ||||
| Note: | Intervals are core length; true widths are not yet known |
The samples were analysed by fire assay at the SGS Laboratory of Mwanza, Tanzania, which is certified according to international standards. A stringent assay quality verification program implemented by MDN included 10% control samples. The technical and scientific information in this press release has been reviewed by Marc Boisvert, engineering geologist and MDN’s Vice President, Exploration, who is a qualified person as defined by National Instrument 43-101.
About MDN
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 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 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.
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To view the map associated with this press release, please visit the following link:www.niobaymetals.com/pdf/cartes/Nikonga_2012_Drill_Results.pdf.
CONTACT INFORMATION
-
MDN Inc.
Serge Bureau. Ing.
President and Chief Executive Officer
514-866-6500. Ext. 221MDN Inc.
Marc Boisvert. Ing.
Vice President. Exploration
514-866-6500. Ext. 227MDN Inc.
Vincent Janelle
Investor Relations
514-866-6500. Ext. 228
vjanelle@niobaymetals.com
www.niobaymetals.com