43-101 Ressources update on Crevier property
43-101 Preliminary Economic Assessment of the Crevier Niobium Project
NI 43-101 Technical Report Niobium and Tantalum resource estimation of the Crevier deposit
Project Summary: Crevier
MDN Inc. 72.5 %, IAMGOLD 27.5 %
Located in Crevier Township 50 kilometers north of Girardville, in the Lac Saint-Jean region, Québec.
The property covers 83 contiguous concessions covering a total of 4,645 hectares
Soquem discovered the deposit in 1975 and after completing a number of exploration phases, transferred the property to Cambior in 1986 when SOQUEM’s assets were privatized. IAMGOLD acquired the property in 2006 and Les Minéraux Crevier Inc. became sole owner in April 2008
Geology and Mineralization
The property comprises a nepheline syenite dyke exhibiting pegmatitic texture that stretches more than three kilometers. It hosts a niobium and tantalum mineralization estimated at 25.8 million metric tons of mineralization.
43-101 Compliant mineral resource
|Updated Mineral Resource (43-101) - June 2010|
|Total Measured +Indicated||25,369||0,196||234|
|Mineral resource within the geological deposit, 0.1% Nb2O5 cutoff grade|
|Niobium: High grades cut to 0.5% Nb2O5|
|Tantalum: High grades cut to 550 ppm Ta2O5|
Preliminary Economic Study
A preliminary economic assessment conducted in 2009 by an independent engineering firm confirmed the economic viability of the project. At a production rate of 4,000 metric tons per day, the project could generate an average annual income of $125 million. Based on an approximate investment of $316 million, gross annual profits are estimated at $57 million, for a net present value before taxes of $272 million at 5%.
The viability of mineral resources that are not reserves, has not been demonstrated.
MDN continues to develop the project by investing in a feasibility study, which is plan be completed in the first half of 2013.
The technical and scientific information contained in this document has been reviewed by Serge Bureau, who is a qualified person under National Instrument 43-101.