MDN Inc. Reports Increasing Evidence of a Large Gold-Bearing System at its Nikonga Project
March 31 2014 - 8:33AM
Marketwired
MDN Inc. Reports Increasing Evidence of a Large Gold-Bearing System
at its Nikonga Project
MONTREAL, QUEBEC--(Marketwired - Mar 31, 2014) - MDN Inc.
("MDN") (TSX:MDN) reports that it has completed the interpretation
of field work done on the Nikonga property in 2013. The results
indicate that the 2012 drill discoveries are part of a single
gold-bearing system 2.0 km in diameter. A combination of a
geochemical soil survey and a soil acidity survey has delineated a
circular gold/copper/molybdenum-enriched zone associated with high
soil acidity. This soil anomaly covers all the gold-bearing
intersections obtained in 2012, which returned grades ranging from
1.86 g/t Au to 14.5 g/t Au over lengths of 1 to 10 metres.
The 2012 drill results showed that the mineralization is
associated with quartz-tourmaline veins and zones of sheared
volcanics with quartz veinlets and sulphides, lying between felsic
quartz-feldspar porphyry dykes.
In combination with drillhole geology and the ground magnetic
survey, outcrop mapping indicates the presence of a deformation
corridor over 1 km wide that crosses the property from east to west
over a distance of more than 7 km. This corridor contains foliated,
schistose and sheared rocks. The corridor represents the contact
between the mafic volcanic rocks of the Nyanzian Group and the
Kavirondian Group sediments. The latter are considered the
equivalent of the Timiskaming sediments of the Timmins mining camp
in Ontario, Canada, recognized as a key feature of the large gold
mines.
Drill targets: Several lineaments with gold-enriched soils were
detected in the most acidic zone and at the heart of the anomaly
Au-Cu-Mo. These lineaments range in length from 500 metres to over
1.5 km and are parallel to each other. These are high-quality drill
targets that could lead to the discovery of gold-bearing
quartz-tourmaline veins and shears with sulphides. Moreover, some
of these lineaments coincide with gold-bearing drill intersections
obtained in 2012. All these lineaments are high-quality drill
targets for the discovery of additional gold zones.
2012 intersections associated with these lineaments
The results of holes NKD-05 (9.88 g/t Au / 4.2 m) and NKD-04
(1.73 g/t Au / 12.35 m, including 17.35 g/t Au / 1 m) confirm MDN's
discovery in Hole NKD-02, with 12.3 g/t Au / 4.2 m and 10.9 g/t Au
/ 4.9 m (press release dated March 27, 2012) in the southern
portion of the property. Hole IKD-07 (1.39 g/t Au /2.6m and 2.6 g/t
Au / 3.0m), adjacent to Hole NKRC-14 (14.5 g/t Au over 2.00 m and
9.34 g/t Au over 1.0 m), confirms the structures farther north.
In addition to numerous gold-bearing lineaments and the size of
the 2-km diameter gold/copper/molybdenum soil anomaly, the
following features support a parallel with the Timmins mining camp
in Canada, which hosts a number of world class gold mines. These
similarities with the large deposits in Timmins support the field
evidence of a large system.
|
(1) |
Presence of quartz-tourmaline veins and
gold-bearing pyrite shears between felsic porphyry dykes. The
presence of felsic porphyry is a key feature of the three largest
gold deposits in Timmins. |
|
(2) |
A gold/copper/molybdenum soil enrichment
that forms a circular anomaly 2 km in diameter. Canada's largest
gold mine, the Hollinger mine (more than 19 million ounces of gold)
is enriched in the same elements. |
|
(3) |
A deformation corridor marking the
volcanic/sedimentary contact, which could be a regional
discontinuity. The gold deposits in the Abitibi and Western
Australia are similarly located near a discontinuity. |
|
(4) |
The presence at Nikonga of Timiskaming-type
sediments that occur in the vicinity of major deposits. |
These geological observations indicate a parallel with gold
deposit in Timmins, Canada, especially at the Hollinger-McIntire,
Dome and Pamour mines, which are world-class deposits associated
with porphyry dykes and/or a porphyry intrusive. These mines lie at
the edge of a discontinuity, at the contact between volcanic and
sedimentary rocks.
With a gold project of this quality, the Company is continuing
to seek a partner for 2014 and/or the appropriate financing once
the market turns around.
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.
Marc Boisvert, President and CEO of MDN, is a qualified person
as defined in National Instrument 43-101. He has reviewed the
scientific and technical information in this news release.
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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,
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.
Marc Boisvert, Ing.President & CEOMDN Inc.514 866-6500, Ext.
221mboisvert@mdn-mines.comwww.mdn-mines.com