September 11, 2012 08:15 ET
MDN Inc.: Presence of a Volcanic Belt of More Than 15 km on Ikungu East
MONTRÉAL, QUÉBEC–(Marketwire – Sept. 11, 2012) – MDN Inc. (TSX:MDN) (“MDN”) announces the first results of its prospecting program on the Ikungu East property in Tanzania. MDN proceeded to a first geological survey on its new property located to the east of its Ikungu project. The prospecting results confirm the presence of a volcanic belt, not observed until this day; on the eastern mineralized zone extension of Ikungu of more than 15 km.
March 14, 2012 – MDN acquired mining properties located to the East of its Ikungu property in Tanzania. The new property is 100% owned by MDN and covers a huge territory for gold exploration with an area of 133.33 km².
A first geological survey covering all of the property confirms the presence and the extension towards the east of the host volcanic rocks of the mineralized zone of Ikungu. Mapping confirms an extension of 15 km towards the east of the belt heading for the former colonial mine “Buhemba”, a mine with high gold content that produced 393,000 tonnes of ore with a grade of 12 g/t Au. The discovery of this volcanic belt greatly opens the territory for the exploration of gold and gives MDN regional control of a favorable geological horizon until now unrecognized.
Mr. Marc Boisvert, Vice president Exploration for MDN stated that “It is not every day nor in a lot of places of the world, that a company can announce the discovery of a volcanic belt with gold potential on more than 15 km. This gives a good indication that the exploration level is immature with very little exploration works in comparison to other volcanic belts which are strongly explored. It is with great enthusiasm that we foresee to continue exploration works at Ikungu East.”
Ground geochemistry survey of the ground currently in progress combined with previous works, will allow identification of drilling targets that will test the presence of gold mineralisation alongside this belt of 15 km.
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.
MDN Inc. (TSX:MDN) is a mining exploration and development company with properties in Quebec and Tanzania. In Tanzania, MDN has a 30% participating interest in the Tulawaka gold mine, which produced over 84,000 ounces of gold in 2011, as well as two promising gold projects, Ikungu and Nikonga. In Quebec, MDN owns a 72.5% interest in Crevier Minerals Inc., which owns an NI 43-101 niobium-tantalum resource that is presently at the feasibility study stage.
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
Follow us on Twitter: http://twitter.com/MDN_INC