MDN Announces an Exploration Program on the Samaqua Property
June 18, 2014 (Source: Marketwired) — MDN Inc. (TSX:MDN) (the “Company”) is pleased to inform its shareholders and the financial community that it is about to start an exploration program on its wholly-owned Samaqua property. The property is located north of Girardville in the Saguenay-Lac-Saint-Jean region of Québec, Canada, close to the Crevier project.
Work will consist of a helicopter-borne geophysical survey and an induced polarization ground survey on a circular anomaly. MDN plans to carry out about 1,500 metres of drilling on the target once the geophysical surveys are complete. The goal of the exploration program is to confirm the presence of a carbonatite or an alkaline system with the potential to host niobium/tantalum mineralization.
The Samaqua property covers a magnetic geophysical response similar to the one associated with Niobec Inc.’s niobium mine. The magnetic signature lies 23 km southeast of the Crevier deposit and 130 km northwest of the Niobec mine. The magnetic response is circular in shape with a strong magnetic aureole surrounding a weak magnetic core, which is identical to the magnetic response of the Niobec mine. In the case of Niobec, the core corresponds to a niobium carbonatite with a rare-earth-rich centre.
The circular anomaly lies at the southeastern edge of a lineament visible on the regional geophysical survey maps of Quebec’s Ministère de l’énergie et des ressources naturelles (see map). The northwest end of the lineament coincides with the porphyry syenite dike that hosts the Crevier niobium /tantalum deposit, and the southeastern extension of the lineament could be the southeastern extension of the dike, which would connect the two systems.
The results of interpretation suggest that the magnetic signature to the southeast of the Crevier deposit could correspond to other carbonatite-type mineralization with a niobium or rare-earth centre. Furthermore, these would be related to the Crevier deposit by the lineament that could be the southeastern extension of the Crevier dike. The Samaqua intrusive is part of the Saguenay-Waswanipi structural corridor that includes the Saint-Honoré carbonatites (Niobec) and Crevier alkaline complex in the Grenville region and the Lac Shortt and Montviel carbonatite in the Abitibi region.
Map: Magnetic geophysical response of the Sasguenay-Waswanipi structural corridor (http://media3.marketwire.com/docs/952675e.pdf)
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Marc Boisvert, an engineering geologist and the qualified person as defined in National Instrument 43-101, has reviewed 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 an NI 43-101 niobium-tantalum resource that is presently undergoing a feasibility study.
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, including but not limited to, 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.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>