QUEBEC – Higher niobium and tantalum grades and upgrading 50% of the original resource to the measured from indicated, MDN Inc. of Montreal has released a new 43-101 report for the Crevier property in the Lac St Jean region. Measured and indicated resources now stand at 25.4 million tonnes grading 0.2% Nb2O5 and 234.0 ppm Ta2O5. There are also 15.4 million tonnes grading 0.2 Nb2O5 and 252.0 ppm Ta2O5 in the inferred category.
The property comprises a nepheline syenite dyke with a pegmatitic texture that has ha strike length of more than 3.0 km. It was originally discovered by Soquem in 1975. The preliminary economic study proposed an open pit mine and 4,000-t/d concentrator. Initial capital costs would be in the neighbourhood of $270 million.
The Crevier property is owned by Crevier Minerals, a private company owned by MDN (67.5%) and IamGold Corp (32.5%). A feasibility study to be completed in Q1 2011 is underway.
For more information or to read the preliminary economic assessment, visit www.MDN-Mines.com.