Project Summary: MCGold
Owner
MDN Inc. has an option to acquire 50% from SOQUEM Inc.
Location
Approximately 5 km to the NW of the town of Chibougamau in northwestern Quebec.
Area
The property is composed of 56 contiguous claims totaling 8.78 km2.
Geology and mineralization
The property occurs in the Archean Abitibi greenstone belt, on the north flank of the Chibougamau anticline. The northern part of the property is underlain by mafic lava, mafic to felsic tuff and gabbroic sills of the Gilman Formation, whereas the southern part comprises felsic rocks of the Blondeau Formation and mafic-ultramafic rocks of the Cummings igneous complex. A quartz-feldspar porphyry intrusion measuring 1.5 km long by 0.3 km wide occurs in the central portion of the property.
The MCGold property (also known as MOP II) Au-Cu deposit, with inferred resources of 3 240 000 tonnes at 1.61 g/t Au using a 1 g/t cut-off, is hosted by the quartz-feldspar porphyry and neighbouring surrounding rocks. Most of the mineralization is found within a wide gold-bearing pyritic envelope as disseminations, veins and locally massive sulphide. This envelope trends approximately 255o and measures 200 m wide by at least 800 m long.
Work done in 2008/2009 by SOQUEM Inc. suggests that the mineralization was not adequately sampled and analyzed such that certain previously-uneconomic intervals may in fact be economic. In 2010 some sections will be re-drilled and sampled in order to increase the grade and/or the tonnage of the deposit.
The viability of mineral resources that are not reserves, has not been demonstrated
The technical and scientific information contained in this document has been reviewed by Serge Bureau, President & CEO of MDN inc., who is a qualified person under National Instrument 43-101.