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MONTREAL, QUEBEC--(Marketwire - March 5,
2010) - MDN inc. ("MDN") (TSX:MDN) announces that the Ikungu
drill program was restarted with two drill rigs on January 28, 2010.
The objective of this program is to systematically drill the main
gold-bearing reef along a 2.5 km strike length.
In January 2009, the MDN geological team obtained encouraging grab
sample results from artisan mining sites in the west sector such as
56.80 g/t gold and 70.10 g/t gold. The average gold content of 11 grab
samples from the east sector was 12.04 g/t. Drilling by previous owners
in the early 2000s yielded good drill intersections in the east sector,
including IKD-06 (11.50 g/t Au over 1.0 m), SIK8 (11.50 g/t Au over 5.9
m) and SIK1 (24.50 g/t Au over 3.9 m).
From October to December 3, 2009, MDN completed 10 diamond drill holes
(IKD-17 to IKD-26) totalling 2,024 meters out of the total planned
program of 4,500 meters. The program was suspended for the holiday
season, and resumed on January 28, 2010. Since this time, five holes (IKD-27
to IKD-31) have been completed. The entire program is expected to be
finished by the end of March with drill hole IKD-37. Assays results
have been received for holes IKD-17 to IKD-30.
Ten holes were drilled along the main reef and another five holes
(IKD-19 to IKD-23) tested other areas on the property. The ten holes
along the reef were drilled to verify continuity, and to-date results
confirm that the mineralization is hosted by metasedimentary rock for
at least 2.5 km along strike. The metasedimentary rock hosts continuous
gold-bearing sulphides with high-grade mineral lenses associated with
highly silicified zones along the main reef. Assays results received so
far indicate the possible existence of two high-grade mineralized
lenses. Holes IKD-18, IKD-25 and previous owner drill hole IKD-04
outline a central high-grade lens from 2435 E to 2770 E. Holes IKD-26,
IKD-28 and previous owner holes IKD-06 and SIK1 outlined an eastern
high-grade lens from 3190 E to 3790 E along the main reef.
---------------------------------------------------------------------------- Central Mineral Lens 2435 E to 2770 E East Mineral Lens 3190 E to 3790 E ---------------------------------------------------------------------------- IKD-04 6.70 g/t Au over 4.8 m IKD-26 5.59 g/t Au over 2.0 m IKD-25 3.04 g/t Au over 2.0 m IKD-28 16.41 g/t Au over 2.0 m IKD-18 8.82 g/t Au over 2.0 m SIK8 11.50 g/t Au over 5.9 m SIK1 24.50 g/t Au over 3.9 m ----------------------------------------------------------------------------
The second part of the drill program that
began in January is focusing on delineating the high-grade lenses along
the favourable horizon.
Results from the Ikungu main reef are as follows with grey cells
indicating previous owner drill results. Note that holes IKD- 19 to
IKD-23 were drilled on other targets and did not yield significant gold
values.
The Ikungu gold-bearing structure in Tanzania brings an excellent
discovery potential to MDN. We are encouraged by the ongoing drill
program on this promising gold-bearing reef. We expect to continue with
a follow-up phase during 2010, once the current program will end",
said Serge Bureau, President and CEO of MDN.
West Area
---------------------------------------------------------------------------- Hole ID Section (m) From (m) To (m) Length (m) Au g/t ---------------------------------------------------------------------------- IKD-33 1810 E In progress ---------------------------------------------------------------------------- IKD-07 1855 E 178.0 180.0 2.0 3.88 ---------------------------------------------------------------------------- IKD-24 1930 E 160.0 162.0 2.0 3.67 ---------------------------------------------------------------------------- IKD-08 2010 E 142.8 143.8 0.5 55.50 ---------------------------------------------------------------------------- IKD-17 2380 E 87.0 88.0 1.0 3.09 ----------------------------------------------------------------------------
Central Area
---------------------------------------------------------------------------- IKD-04 2435 E 226.0 230.9 4.8 6.70 ---------------------------------------------------------------------------- IKD-25 2500 E 110.0 111.0 1.0 4.81 ------------------------------------------------------ 117.0 119.0 2.0 3.04 ---------------------------------------------------------------------------- IKD-32 2560 E Assays are pending ---------------------------------------------------------------------------- IKD-35 2650 E Planned ---------------------------------------------------------------------------- IKD-18 2770 E 100.5 106.2 5.7 1.39 ------------------------------------------------------ 139.5 141.5 2.0 1.79 ------------------------------------------------------ 242.0 244.0 2.0 8.62 ---------------------------------------------------------------------------- IKD-27 2830 E 75.4 78.4 3.0 2.53 ----------------------------------------------------------------------------
East Area
---------------------------------------------------------------------------- IKD-34 2910 E Planned ---------------------------------------------------------------------------- IKD-29 2980 E 86.2 91.6 5.4 1.99 ---------------------------------------------------------------------------- IKD-05 3110 E 99.7 104.6 4.9 0.67 ---------------------------------------------------------------------------- IKD-26 3190 E 68.6 70.6 2.0 5.59 ------------------------------------------------------ 173.6 175.6 2.0 3.18 ---------------------------------------------------------------------------- IKD-31 Assays are pending ---------------------------------------------------------------------------- IKD-30 3250 E 77.0 88.0 3.0 2.37 ---------------------------------------------------------------------------- IKD-06 3320 E 66.8 67.8 1.0 11.50 ---------------------------------------------------------------------------- IKD-28 3400 E 35.5 37.5 2.0 16.41 ---------------------------------------------------------------------------- IKD-03 3550 E 66.5 68.1 1.6 2.90 ---------------------------------------------------------------------------- IKD-36 3610 E Planned ---------------------------------------------------------------------------- IKD-37 3730 E Planned ---------------------------------------------------------------------------- SIK8 3760 E 206.9 212.8 5.9 11.50 ---------------------------------------------------------------------------- SIK1 3760 E 140.8 144.7 3.9 24.50 ----------------------------------------------------------------------------
The
samples were analysed by fire assay at the SGS Laboratory of Mwanza,
Tanzania, which is certified according to international standards. A
rigorous quality analysis verification program implemented by MDN
included 20% control samples. The technical and scientific information
contained in this press release have been reviewed by Marc Boisvert,
P.Eng. and Vice President, Exploration, who acts as a qualified person
in accordance with National Instrument 43-101.
True widths of mineralized intersections are still unknown.
MDN at PDAC
MDN Management will display at PDAC's Coreshack with its niobium and
tantalum core and maps on Tuesday March 9 and Wednesday March 10 at
booth #5005 B. The team will also be available for meetings at booth
2614B during the same two days.
About MDN
MDN Inc.(TSX:MDN) is a mining exploration and development company with
adequate financial resources to develop its promising projects in
Quebec and in Tanzania. MDN also remains active in the search for new
business opportunities that can raise shareholder value. In addition to
its 30% participation in the Tulawaka Gold Mine, MDN is the operator
and owner of a majority interest in mineral licenses totalling 621 sq.
kms. around the Tulawaka gold mine in Tanzania. The company also owns a
67.5% interest in Mineraux Crevier, which owns a property with an NI
43-101 niobium and tantalum resource located in the Lac St-Jean area of
Quebec. MDN has an option to increase its equity participation in
Mineraux Crevier up to 87.5%. Additional information is available on
MDN's website at www.mdn-mines.com.
Forward looking statements
All statements in this release, other than statements of historical
fact, that address events or developments that the Company expects to
occur, are forward looking statements. Although the Company believes
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
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 such
forward-looking statements included in this press release should not be
unduly relied upon. These statements speak only as of the date of this
press release.
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