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Medallion Files Eden Lake NI43 101 Technical Report, Exchange Approves Agreement
Medallion Files Eden Lake NI43 101 Technical Report, Exchange Approves Agreement
About this update from Gamma Resources Ltd.
[{"type":"text","content":"\nMedallion Files Eden Lake NI43 101 Technical Report, Exchange Approves Agreement\n\n\n Aug. 5, 2010 (TheNewswire.ca) -- Vancouver, BC - Medallion Resources Ltd. (TSXV:MDL) (the \"Company\" - TSX.V: MDL) announces that the TSX Venture Exchange (the \"Exchange\") has approved the Company's Eden REE Project acquisition agreement with Rare Element Resources Ltd (TSXV:RES) (the \"Agreement\"). The Exchange has also accepted for filing the Eden REE Project NI43-101-compliant Technical Report (the \"Report\"), which is posted on SEDAR and the Company's website.The Agreement provides Medallion with the option to acquire up to an undivided 65% interest in the Eden Lake rare-earth property, located in Manitoba, Canada, as detailed in the Company's December 1, 2009 news release.The Report, entitled The Eden Lake Rare Metal (REE, Y, U, Th, Phosphate) Carbonatite Complex, Manitoba, is authored by A H Mumin, PhD, PGeo, PEng. Dr Hamid Mumin, who serves Medallion as an arm's-length consultant, is a recognized expert on the Eden rare-earth-element (REE) occurrences and is a Qualified Person as the term is defined by NI43-101. Since his discovery of the Eden Lake REE-hosting carbonatite in 2002, he has written and published several geological studies on the Eden Lake area. Dr Mumin teaches economic geology, mineralogy and geochemistry at Brandon University in Manitoba, where he is a Professor and Director of the Laboratory for Applied Research in Resource Geology.Dr Bill Bird, president of Medallion, states, \"The potential of the Eden REE Project is an exceptional opportunity for Medallion. We are doubly fortunate to have Hamid Mumin as our Eden Project leader. Dr Mumin's report is an extremely thorough examination of all previous significant data, much of which he, himself, collected. It also is a well-thought-out plan for further exploration of the REE potential. The potential for this exceptional REE occurrence is clearly emphasized in Dr Mumin's references to similarities with other REE deposits, descriptions of the multiple styles of REE-mineralization found within the property, assay values and the overall size of the mineralized area. We share Dr Mumin's enthusiasm for the Eden REE Project.\"In the Report, Dr Mumin states the following:From section 10, Deposit Types -The target deposit type at Eden Lake is a rare metal enriched carbonat...