MDN Inc.: First Results of the 2008 Isambara Drilling Program
11:01 EDT Thursday, May 22, 2008
MONTREAL, QUEBEC--(Marketwire - May 22, 2008) - MDN inc. ("MDN") is pleased to announce the results of the first part of the 2008 drilling program at the Isambara project, located 28 km north of the Tulawaka Gold Mine in Tanzania.
The objective of the first phase of the 2008 exploration program was to establish the effective strike length of gold mineralization within the 4+km long N-S Isambara shear with widely spaced drill fences along the structure. The 49 holes totalling 4,909 m of RC drilling in 8 fences showed that the high-grade mineralization is mainly concentrated in 3 sectors with a cumulative strike length of 1.4 km and still open: the East Target, Central Target and Grid A areas.
The results of these 49 RC drill holes are presented in table 1 and their locations are shown in figure 1.
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Fire Assay
----------------------------------------------- -------------------------
Hole Area Structure Fence From To Length Grade
m m m gpt Au
----------------------------------------------- -------------------------
----------------------------------------------- -------------------------
ISRC-180 Central Target Isambara Shear 07-02 17.00 18.00 1.00 2.57
---------------------------------------------------------------------------
ISRC-186 North extension Isambara Shear 08-01 103.00 104.00 1.00 1.06
107.00 108.00 1.00 1.91
---------------------------------------------------------------------------
ISRC-190 North extension Isambara Shear 08-01 69.00 70.00 1.00 1.84
---------------------------------------------------------------------------
ISRC-192 North extension Isambara Shear 08-01 47.00 48.00 1.00 1.04
55.00 56.00 1.00 1.19
---------------------------------------------------------------------------
ISRC-216 Central Target Isambara Shear 08-04 68.00 69.00 1.00 1.10
---------------------------------------------------------------------------
ISRC-218 Central Target Isambara Shear 08-04 8.00 11.00 3.00 1.83
---------------------------------------------------------------------------
ISRC-223 south extension Isambara Shear 08-06 43.00 45.00 2.00 1.03
of East target 59.00 60.00 1.00 1.32
---------------------------------------------------------------------------
ISRC-224 East extension Satellite
of East Target structure ET040N 19.00 21.00 2.00 1.24
26.00 27.00 1.00 1.17
33.00 34.00 1.00 1.05
40.00 42.00 2.00 1.98
52.00 76.00 24.00 2.04
incl. 52.00 56.00 4.00 7.87
incl. 52.00 54.00 2.00 14.57
---------------------------------------------------------------------------
ISRC-226 W of East Satellite
Target structure 08-09 58.00 59.00 1.00 1.66
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Table 1 - New drill results above 1gpt Au
Additional drilling is planned along the Isambara shear in the 3 sectors and in the still open zones as well as in the West Target and across the Muhama structure.
Figure 1 (Isambara - Drill Holes) is available at the following address: media3.marketwire.com
The East Target
The first high-grade mineralized sector along the Isambara shear corresponds to the East Target where the gold mineralization has been traced for 600m and remains open to the north and south. A map showing the previous results in this sector was presented on January 22, 2008.
In the eastern extension of the East Target, drill hole ISRC-224 returned 24m @ 2.04 g/t gold including 2m @ 14.57 g/t gold, showing that the Isambara shear contains satellite structures and thus more than one attractive mineralized horizon. The East Target remains to be tested for more satellite structures by means of additional RC drilling.
The Central Target
The second high-grade mineralized sector, the Central Target, is located along the Isambara shear at 400 m to the north of the East Target. The mineralization was traced for 500 m. A map showing drilling results in the Central Target is presented in figure 2. This Target remains open to the south. A diamond drill hole is planned in the short term in this sector to better define the gold mineralization.
Grid A
The third mineralized sector is Grid A, where the mineralization was traced for 300 m. Figure 2 also shows the drilling results in Grid A.
Other exploration targets
Diamond drill holes and RC fences are planned in the short term in the West Target and to the southeast of the East Target.
The 400m-long area between the East and the Central Targets as well as the Muhama shear, located in swampy areas, cannot be tested during the rainy season. Testing of these targets will be carried out in the dry season.
With the proximity of the Tulawaka Gold Mine, possible development of a deposit would not be impacted by capital costs of mine infrastructures.
The samples were analyzed by fire assay at the SGS laboratories in Tanzania, which are certified under international standards. A rigorous program of analytical grade verification implemented by MDN included 12% control samples. The technical information in this press release was verified and approved by geologist Dominique Fournier, Ph.D., who acted as a qualified person in accordance with NI 43-101.
The Isambara licence is part of the Simba project, a partnership between MDN (70%), which is the operator, Lakota Resources (15%) of Toronto, and Jope Business Associates (15%) of Dar-es-Salaam. Isambara covers a territory of 40 km and is located 28 km north of the Tulawaka Gold Mine.
Figure 2 (Grid and Central Target - Drill Results) is available at the following address: media3.marketwire.com
MDN is a mining exploration company with its head office in Montreal, Quebec (Canada). Its main exploration activities are carried out in Quebec and in Tanzania. In Quebec, MDN holds, in whole or in part, exploration assets in gold and base metals. In Tanzania, MDN holds a majority interest in 28 exploration permits around Tulawaka and in two other permits in the Ikungu sector, in addition to its 30% participation interest in the Tulawaka Gold Mine.
FOR FURTHER INFORMATION PLEASE CONTACT:
MDN
Paul-A. Girard
President & CEO
514-866-6500
or
MDN |
