May 27, 2015 10:00 ET
Prospecting Work Begin on Prairie Lake
MONTREAL, QUEBEC–(Marketwired – May 27, 2015) – MDN Inc. (TSX:MDN) (the “Company”) is pleased to announce the start of the prospecting work on the Prairie Lake property.
The first phase will start in June and will include detailed mapping and the trenching of sites of interest with systematic sampling. Several of them have already been identified during a recent visit on the property. Will follow a second phase of exploration that will consist of a high definition airborne magnetic survey with radiometry, and then a third phase where the previously established targets will be drilled. The last two phases will require more funds and the Company will proceed with a funding campaign in the coming months.
The works will be supervised by Jacquelin Gauthier, a geological engineer, whose services were retained for all the exploration phases on Prairie Lake. Mr. Gauthier has over 38 years of experience. He has three discoveries under his belt and has extensive knowledge of carbonatites.
The Prairie Lake property is located about 45 kilometers northwest of the city of Marathon, Ontario, Canada. Earlier this year, MDN signed two option agreements to acquire 100% of the Prairie Lake and Prairie Lake South properties.
Samples were collected on the property in 2011 and 2014 and their analysis confirmed the occurrences of alkaline and carbonatite rocks which contain niobium assays as high as 1.63% Nb2O5. The samples consisted of grab samples and samples taken from blasted outcrops. Activation Laboratory (Actlabs), an ISO 17025 accredited laboratory, analyzed the niobium by XRF on fused borate beads.
“We are very enthusiastic to start working on Prairie Lake. The property is a big alkaline complex that needs to be well characterised before continuing with subsequent studies”, indicated Claude Dufresne, President and CEO. “The property already revealed that it contained high grade niobium samples when compared with other projects. We are therefore confident to discover a resource rich in niobium,” added M. Dufresne.
Jacquelin Gauthier, geo. eng., acted as the qualified person as defined in National Instrument 43-101. He reviewed and approved the technical and scientific content of this press release.
About MDN (TSX:MDN)
MDN Inc. is a mining exploration and development company with properties in Quebec and Tanzania. In Quebec, MDN holds a 72.5% interest in Crevier Minerals Inc., which owns a NI 43-101 niobium-tantalum resource and 100% of the Samaqua property.
This press release contains forward-looking statements. 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. 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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