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MONTREAL, QUEBEC--(Marketwire - May 4,
2010) -
IKD-36 intersects 13.22 g/t Au over 4.1m (true width) IKD-32 intersects 8.02 g/t Au over 2.4 m (true width) IKD-34 intersects 6.63g/t Au over 2.0 m (true width)
MDN Inc. ("MDN") (TSX:MDN) is
pleased to announce that all the assay results for the Ikungu project
are now available. The results for the second part of the drilling
program, which resumed on January 28, 2010 and was completed on March
17, show multiple mineralized intersections grading over 5 g/t and as
high as 54.3 g/t Au. The mineralized zones lie along the known
gold-bearing horizon that extends more than 2.5 km, and will be tested
for vertical continuity by the next drilling program, now in the
planning stage.
"Our experience at the Tulawaka gold mine and our knowledge of
Archean greenstone belts lead us to believe that we are looking at a
very large mineralized system. This 2.5 km gold-bearing structure
contains multiple zones with sample grading over 10 g/t Au",
stated Marc Boisvert, P.Eng. Vice President Exploration for MDN
The entire MDN program (IKD-17 to IKD-37) was carried out from October
2009 to March 2010 and consisted of 21 diamond drill holes for a total
of 4,369 m of drilling. Between the month of October and December 2009,
MDN drilled 10 diamond drill holes (IKD-17 to IKD-26) totalling 2,024
metres that indicated the potential of the continuity of the
gold-bearing mineralization over at least 2.5 km (news release dated
March 5, 2010). The program was suspended in December and resumed in
late January 2010 to identify high-grade zones along this horizon.
Subsequently, eleven holes (IKD-27 to IKD-37) were drilled from the
time that activities resumed until March 18. The mineralized horizon
was thus tested over a distance of 2.5 km by holes drilled about 70 m
apart, with only two of these drilled deeper than 100 metres.
Holes IKD-34, 36 and 37 confirm the presence of a higher-grade
mineralized zone in the east sector between sections 3190 E and 3790 E.
The same applies to holes IKD-32 and IKD -35 in the central sector, for
a second zone between sections 2435 E and 2770 E. Hole IKD-33 returned
an intersection of 2.66 g/t Au over 5.36 m at the western end,
indicating that the mineralized horizon traced over 2.5 km remains open
to the west.
Assay results for IKD-31 to IKD-37 (IKD-17 to IKD-30 were released
March 5, 2010):
-------------------------------------------------------- Hole Section From To Length True Au # (m) (m) (m) (m) width (g/t) -------------------------------------------------------- IKD-31 3190E 137.00 141.00 4.00 3.06 2.49 -------------------------------------------------------- -------------------------------------------------------- IKD-32 2560E 83.00 86.75 3.75 2.41 8.02 -------------------------------------------------------- -------------------------------------------------------- IKD-33 1810E 108.00 113.00 5.00 3.83 2.50 -------------------------------------------------------- 141.60 145.00 3.40 2.60 2.26 -------------------------------------------------------- 154.00 161.00 7.00 5.36 2.66 -------------------------------------------------------- -------------------------------------------------------- IKD-34 2890E 97.20 99.80 2.60 1.99 6.63 -------------------------------------------------------- Including: 98.10 98.85 0.75 20.15 -------------------------------------------------------- -------------------------------------------------------- IKD-35 2650E 61.84 64.26 2.42 1.85 2.76 -------------------------------------------------------- 72.50 81.00 8.50 6.51 2.79 -------------------------------------------------------- -------------------------------------------------------- IKD-36 3610E 51.60 56.94 5.34 4.09 13.22 -------------------------------------------------------- Including: 53.5 54.0 0.5 21.00 --------------------------------------- 55.5 56.0 0.5 9.82 --------------------------------------- 56.0 56.5 0.5 40.45 --------------------------------------- 56.5 56.9 0.4 54.30 -------------------------------------------------------- -------------------------------------------------------- IKD-37 3730E 276.50 281.70 5.20 3.98 5.39 -------------------------------------------------------- Including: 278.1 278.8 0.70 15.20 --------------------------------------- 280.7 281.7 1.00 11.3 --------------------------------------------------------
Intersections indicating the presence of
high-grade zones:
--------------------------------------------------------- IKD08 2010E 34.50 37.50 2.60 1.99 10.95 --------------------------------------------------------- --------------------------------------------------------- IKD04 2435E 226.04 230.88 4.84 2.42 6.74 --------------------------------------------------------- IKD-32 2560E 83.00 86.75 3.75 2.41 8.02 --------------------------------------------------------- IKD-18 2770E 242.00 245.00 3.00 2.30 5.79 --------------------------------------------------------- --------------------------------------------------------- IKD-34 2910E 97.20 99.80 2.60 1.99 6.63 --------------------------------------------------------- IKD-28 3400E 142.17 144.77 3.00 2.30 10.95 --------------------------------------------------------- IKD-36 3610E 51.60 56.94 5.34 4.09 13.22 --------------------------------------------------------- IKD-37 3730E 276.50 281.70 5.20 3.98 5.39 --------------------------------------------------------- SIK1 3760E 140.84 144.68 3.84 1.91 24.54 --------------------------------------------------------- SIK8 3760E 206.90 212.81 5.91 2.94 11.50 ---------------------------------------------------------
The assay results received to date confirm
that the mineralization is continuous over more than 2.5 km, with a
minimum thickness of 2 metres and sample grades above 1.2 g/t Au. This
gold-bearing horizon hosts higher-grade zones 2 to 4 metres thick
ranging from 5 g/t Au to 11.5 g/t Au, including sections of up to 54.3
g/t over 0.4 m. The gold-bearing intersections for holes IKD-08,
IKD-28, IKD-36, IKD-37, SIK1 and SIK 8 are good examples of these
higher-grade zones. A concentration of such zones has been identified
in the central and eastern sectors, with a higher occurrence of zones
with average sample grade over 10 g/t Au toward the east.
Compilation table for all the holes that intersected the mineralized
horizon:
East Sector
-------------------------------------------------------- Hole Section From To Length True Au # (m) (m) (m) (m) width (g/t) -------------------------------------------------------- -------------------------------------------------------- SIK1 3760E 140.84 144.68 3.84 1.91 24.54 -------------------------------------------------------- SIK8 3730E 189.9 193.8 3.9 1.94 2.1 -------------------------------------------------------- SIK8 3730E 206.9 212.81 5.91 2.94 11.5 -------------------------------------------------------- IKD02 3745E 95.21 98.1 2.89 2.2 3.63 -------------------------------------------------------- IKD-37 3730E 276.5 281.7 5.2 3.98 5.39 -------------------------------------------------------- IKD-36 3610E 51.6 56.94 5.34 4.09 13.22 -------------------------------------------------------- IKD03 3550E 66.5 69.15 2.65 2.02 2.08 -------------------------------------------------------- IKD-28 3400E 59 62 3 2.3 2.52 -------------------------------------------------------- IKD-28 3400E 142.17 144.77 3 2.3 10.95 -------------------------------------------------------- IKD06 3320E 65.81 68.81 3 2.3 3.77 -------------------------------------------------------- IKD-30 3250E 77 80 3 2.3 2.37 -------------------------------------------------------- IKD-31 3190E 241 243 2 1.53 1.24 -------------------------------------------------------- IKD-26 3190E 64.6 70.6 6 4.6 3.67 -------------------------------------------------------- IKD-31 3190E 137 141 4 3.06 2.49 -------------------------------------------------------- IKD-26 3190E 173.6 175.6 2 1.53 3.18 -------------------------------------------------------- -------------------------------------------------------- IKD-29 2980E 87.2 90.07 2.87 2.2 3.35 -------------------------------------------------------- IKD-29 2980E 174.1 176.7 2.6 1.99 2.79 -------------------------------------------------------- IKD-34 2890E 97.2 99.8 2.6 1.99 6.63 -------------------------------------------------------- IKD-34 2890E 138.1 141.7 3.6 2.76 2.85 -------------------------------------------------------- IKD13 2850E 44.08 46.88 2.8 2.14 3.8 --------------------------------------------------------
Central Sector
-------------------------------------------------------- Hole Section From To Length True Au # (m) (m) (m) (m) width (g/t) -------------------------------------------------------- IKD-27 2830E 75.4 78.4 3 2.3 2.53 -------------------------------------------------------- IKD-27 2830E 91.3 94.3 3 2.3 1.05 -------------------------------------------------------- IKD-18 2770E 100.5 103.5 3 2.3 2.04 -------------------------------------------------------- IKD-18 2770E 138.5 141.5 3 2.3 1.31 -------------------------------------------------------- IKD-18 2770E 242 245 3 2.3 5.79 -------------------------------------------------------- IKD-35 2650E 61.84 64.26 2.42 1.85 2.76 -------------------------------------------------------- IKD-35 2650E 72.5 81 8.5 6.51 2.79 -------------------------------------------------------- IKD16 2545E 44.8 48.06 3.26 2.5 2.12 -------------------------------------------------------- IKD16 2545E 65.5 67.25 1.75 1.34 4.11 -------------------------------------------------------- IKD-32 2545E 83 86.75 3.75 2.41 8.02 -------------------------------------------------------- IKD-32 2545E 103.5 108.5 5 3.21 2.47 -------------------------------------------------------- IKD-25 2470E 97 100 3 2.3 1.51 -------------------------------------------------------- IKD-25 2470E 109 112 3 2.3 1.71 -------------------------------------------------------- IKD-25 2470E 115 119 4 3.06 1.6 -------------------------------------------------------- IKD04 2380E 206.72 211.19 4.47 2.24 2.27 -------------------------------------------------------- IKD04 2380E 226.04 230.88 4.84 2.42 6.74 --------------------------------------------------------
West Sector
-------------------------------------------------------- Hole Section From To Length True Au # (m) (m) (m) (m) width (g/t) -------------------------------------------------------- IKD08 1960E 34.5 37.5 2.6 1.99 10.95 -------------------------------------------------------- IKD08 1960E 133.55 136.15 2.6 1.99 1.07 -------------------------------------------------------- SIK5 1930E 115 119 4 1.98 1.1 -------------------------------------------------------- IKD-24 1870E 160 163 3 2.3 2.58 -------------------------------------------------------- IKD07 1795E 177 180 3 2.3 2.72 -------------------------------------------------------- IKD07 1795E 196.24 199.63 3.39 2.6 1.48 -------------------------------------------------------- IKD-33 1750E 108 113 5 3.83 2.5 -------------------------------------------------------- IKD-33 1750E 141.6 145 3.4 2.6 2.26 -------------------------------------------------------- IKD-33 1750E 154 161 7 5.36 2.66 --------------------------------------------------------
The
samples were analysed by fire assay at the SGS Laboratory of Mwanza,
Tanzania, which is a certified facility 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 has been reviewed by Marc
Boisvert, P.Eng. MDN's Vice President, Exploration, who acts as a
qualified person in accordance with National Instrument 43-101.
About MDN
MDN Inc.(TSX:MDN) is a mining exploration and development company with
adequate financial resources to develop its exploration 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% participating interest in the Tulawaka Gold Mine, MDN is the
operator and owner of a majority interest in mineral licenses totalling
715 sq km around the Tulawaka gold mine in Tanzania. The company also
owns a 67.5% interest in Crevier Minerals Inc. which owns a property
with a 25.8 M tonne 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 Crevier Minerals Inc. 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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