MDN Announces the Start of the Exploration Program on Samaqua
August 19, 2014 (Source: Marketwired) — MDN Inc. (TSX:MDN) (the “Company”) is pleased to confirm the start of the previously announced exploration program on its wholly-owned Samaqua property. The property is located north of Girardville in the Saguenay-Lac-Saint-Jean region of Quebec, Canada, next to the niobium and tantalum Crevier project owned 72.5% by MDN inc and 27.5% by Niobec inc, a subsidiary of Iamgold inc.
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 and often the case with mineral deposits associated with carbonatites. In the case of Niobec, the core corresponds to a niobium carbonatite with a rare-earth-rich centre.
Get our daily investorintel update
The objective of the program is to determine the presence of a mineralized carbonatite. The results will be announced as soon as available and will extend over a period of 4 to 5 months.
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>