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MDN Inc./Update on Metallurgical Work at the Crevier Project: Positive Hydrometallurgy Results
Published : February 09, 2012
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MONTREAL, QUEBEC--(Marketwire - Feb. 9, 2012) -

Editors' Note: There is a graphic associated with this press release.

MDN Inc. ("MDN") (News - Market indicators) is pleased to provide an update on the progress of metallurgical testing for its Crevier niobium-tantalum property. The Crevier property is located north of Girardville in the Quebec's Saguenay-Lac-Saint-Jean region, and is 72.5% owned by MDN Inc. and 27.5% by IAMGOLD. The metallurgy work is being done as part of a feasibility study now underway.

Mineral processing of the Crevier ore is done in two separate stages: flotation to produce a concentrate containing niobium and tantalum, and leaching (hydrometallurgy) to recover the niobium and tantalum oxides contained in the concentrate.

Leaching Process

The HF leaching program has been underway since November 2011. The goal of the program is to recover the niobium and tantalum oxides contained in a concentrate produced by pilot plant flotation testing done in 2011. The work is being carried out by SGS Lakefield.

To date, test results appear to confirm the assumptions used in the preparation of the Crevier project Preliminary Economic Assessment and show that there could be an improvement in the parameters used. The optimization factors currently underway are: 

  • Confirmation of the percentage of niobium and tantalum extracted on dissolution of the concentrate
  • Potential for the elimination of the pre-leaching stage of the process, which would reduce the capital costs associated with refinery construction, as well as operating costs
  • A reduction in the consumption of the hydrofluoric acid used for leaching, which could result in a significant reduction in refinery operating costs, as hydrofluoric acid is a major component of production costs
  • Results obtained to date indicate the possibility of producing zirconium oxide, an economic by-product not accounted for in earlier studies.

This program, which is required to complete the feasibility study, will continue in the coming months, with selective recovery testes for niobium and tantalum oxides.

Flotation Process

Pilot plant testing performed in 2011 did not generate the expected results. This entire portion of the processing of the Crevier project ore had to be reviewed due to variability in the recovery rate for different test days and higher reagent consumption. 

In light of the excellent results generated by the leaching program, the Company has decided to carry out a second pilot plant test to improve the ore treatment process. Preparations are now underway, and the test will be done in May and June, depending on the availability of the SGS Lakefield laboratory. Once the date is confirmed, the timetable for the entire feasibility study will be revised accordingly. 

"Despite this delay in the preparation of the feasibility study, we reiterate our confidence in the potential of the Crevier project and our interest in its development. This optimization of the ore treatment process will give us the confidence we need to make a construction decision for this new mining project," said Serge Bureau, President and Chief Executive Officer of MDN.

About MDN

MDN Inc. (News - Market indicators) is a mining exploration and development company exploring and developing projects in Quebec and Tanzania. The company is also active in the search for new business opportunities that can increase shareholder value. As well as holding a 30% participating interest in the Tulawaka gold mine, MDN has also discovered gold in Tanzania at the Ikungu property, where four high-grade gold zones have been identified. MDN Inc. also owns a 72.5% interest in Crevier Minerals Inc., which owns an NI 43-101 niobium-tantalum resource in the Lac-Saint-Jean area of Quebec. MDN has an option to increase its interest in Crevier Minerals Inc. to 87.5%. Additional information is available on MDN's website at www.mdn-mines.com.

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, 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.

To view the graphic associated with this press release, please visit the following link: http://media3.marketwire.com/docs/mdn_eng_0209.pdf



Serge Bureau, Ing.
President and Chief Executive Officer
MDN Inc.
514 866-6500, Ext. 221
or
Vincent Janelle
Investor Relations
MDN Inc.
514 866-6500, Ext. 228
vjanelle@mdn-mines.com
or
Marc Boisvert, Ing.
Vice President, Exploration
MDN Inc.
514 866-6500, Ext. 227

MDN Inc

PRODUCTEUR
CODE : MDN.TO
ISIN : CA55276L1040
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MDN. est une société de production minière d'or et de cuivre basée au Canada.

MDN. détient divers projets d'exploration au Canada.

Son principal projet en production est TULAKAWA MINE en Tanzanie et ses principaux projets en exploration sont LAC SHORTT, DES MÉLOIZES, CLAIRY, LE TAC, LESPERANCE, MATAGAMI, MCGOLD et CREVIER au Canada et IKUNGU en Tanzanie.

MDN. est cotée au Canada. Sa capitalisation boursière aujourd'hui est 5,2 millions CA$ (4,0 millions US$, 3,5 millions €).

La valeur de son action a atteint son plus haut niveau récent le 11 octobre 1996 à 2,15 CA$, et son plus bas niveau récent le 24 décembre 2015 à 0,01 CA$.

MDN. possède 114 660 000 actions en circulation.

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Financements de MDN Inc
21/12/2007Received $2 Million on Exercise of Warrants
Nominations de MDN Inc
23/02/2010Appoints Serge Bureau as CEO
12/09/2008Marc Boisvert Becomes MDN Inc.-Vice President-Exploration
Rapports Financiers de MDN Inc
09/08/2013Reports Its Financial Results for the First Quarter of 2013
10/05/2013Reports its Financial Results for the First Quarter of 2013
27/03/2013Reports Its Financial Results for the Fiscal Year Ended Dece...
12/11/2012Reports Its Financial Results for the Third Quarter of 2012
12/11/2012Reports Its Financial Results for the Third Quarter of 2012
12/11/2012Reports Its Financial Results for the Third Quarter of 2012
13/08/2012Reports Its Financial Results for the Second Quarter of 2012
23/07/2012.-Tulawaka 2012 Second Quarter Results
11/05/2012Reports its Financial Results for the First Quarter of 2012
19/04/2012.: Tulawaka First Quarter Results
23/03/2012Reports its 2011 Financial Results
26/05/2011Reports Its Financial Results for the First Quarter of 2011
24/03/2011Reports its 2010 Financial Results
01/04/2010Posts 2009 Financial Results
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17/01/2008(Tulakawa Mine) Tulawaka Mine Achieves Record Gold Production and Strong Fi...
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11/01/2016IIROC Trade Resumption - MDN
11/01/2016MDN Inc.: XINYE Intends to Proceed With JV in Tanzania
11/01/2016IIROC Trading Halt - MDN
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15/12/2014MDN Inc.: Update on the Exploration Program on Samaqua
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21/10/2009 Provides an Update on Anita
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02/06/2009Confirms an Investment in a Niobium and Tantalum Deposit
25/05/2009Corporate Update of MCI's Acquisition Project
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04/09/2008Warrant Exchange Offer Extended
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