MDN Discovers Carbonatite With High-Grade Niobium Values at Prairie Lake

MDN (TSX:MDN) has discovered a new carbonatite occurrence hosting high-grade niobium oxide in grab and channel samples at its Prairie Lake property in Ontario.
As quoted in the press release:

The discovery is located in trench TR-01, some 100 meters south-west of the high-grade showings of blasted pits 1 and 2 (see June 25, 2015 press release and figure 1 below). On the new discovery three continuous channel samples on the carbonatite gave 1.21% Nb₂O₅ over 1.1 meter, 0.77% Nb₂O₅ over 1.0 meter and 0.47% Nb₂O₅ over 1.2 meter for a weighted average of 0.81% Nb₂O₅ over 3.3 meters (figure 2). On the same stripped area, three other non-adjacent one-meter channel samples gave 0.73, 0.58 and 0.56% Nb₂O₅. The selected grab sample that led to this discovery assayed 2.11% Nb₂O₅. The attitude and thickness of this carbonatite is unknown and more work is required to determine the source of the occurrence. Preliminary geological observations suggest vaguely defined shallow dipping magmatic bedding in the carbonatite which is sitting under the syenite.
The discovery was made during the summer field work program consisting of prospecting (102 grab samples), mechanical stripping (8 areas), washing, geological mapping and channel sampling (64 samples). This campaign also revealed another potential carbonatite intrusive north of trench TR-04A, just 50 meters north of pits 1 and 2 and 150 meters north-east of TR-01 (figure 1 and 3 below). The stripped area shows a contact between an ijolite and a syenite with a window of carbonatite under the syenite; the carbonatite apparently extending under the swamp to the north. At the contact, the ijolite is grading 0.32% Nb₂O₅ over 2.0 meters while the syenite got three non-adjacent channel samples of 0.44%, 0.25% and 0.18% Nb₂O₅over respectively 0.6, 1.0 and 1.0 meter. Again here, the lithological contact seems to be sub-horizontal.

MDN CEO, Claude Dufresne, said:

We are delighted with these high grade results coming from the trench #1. Our focus will move to better understand the source of the high grade niobium and thus drilling in due time. Current market conditions are very challenging, and we want to ensure to create as much value to our shareholders in those difficult times.

Click here for the full press release.