234 Million Tonne Historical Resource(x) Iron-Titanium Property Optioned by Medallion

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[{"type":"text","content":"\n\n\n\nTSX-V: MDL\n\n\nVANCOUVER, Sept. 2 /CNW/ - Medallion Resources Ltd (TSX.V: MDL) announced\ntoday that it has optioned from privately held Romaine River Titanium Inc.,\nthe right to acquire a 100% legal and beneficial interest ("Option") in the\nEverett iron-titanium property ("Property"). The Property consists of\n59 claims, located three kilometres east of the Rio Tinto-owned Lac Allard\niron-titanium mine in Duplessis County, Quebec. The Everett Property is\npotentially one of the world's largest iron-titanium occurrences with a\nhistorical 234-million-tonne estimated resource(x).\n\n\nPresident William Bird reports, "The Everett Property, represents an\nexceptional opportunity for Medallion shareholders and it's rare that a\nproject of this magnitude is available to any company."\n\n\nAbout the Everett Iron-Titanium Property\n\n\nHistorical drilling and metallurgical work support the Everett Property's\nhistorical resource estimate of 234 million tonnes grading 10.8% titanium\noxide (TiO(2)) and 17.9% iron.(x) The body of iron-titanium mineralization\noutcrops along a known length of 2.3 kilometres and a width that ranges from\n180 metres to 485 metres. It is open along strike and down dip.\n\n\nThe Everett Property minerals are hematite (Fe(2)O(3)) and ilmenite\n(FeTiO(3)), which also are the minerals mined at the QIT Lac Allard mine. The\nQIT mine, owned by Rio Tinto and presently the largest of its type, is a\nleading producer of high-quality titanium and steel products.\n\n\n(x) The historical resource estimate and the Everett Property reports\nsupporting the estimate were prepared before the introduction of National\nInstrument 43-101- Standards of Disclosure for Mineral Projects ("NI 43-101").\nThey may not be relied upon until they are confirmed using methods and\nstandards that comply with those required by NI 43-101. The potential for the\nEverett Property mineralization to replicate the historical resource estimate,\nor for new data to expand its tonnage and grade, is conceptual and is based on\nhistorical reports, which cite approximate lengths, widths, depths, grades,\nmetallurgical test work and projections of the historical resource. Investors\nare cautioned that a qualified person has not yet completed sufficient\nexploration, test work or examination of past work...

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