Jun 19 2014
MDN Inc. (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)
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.