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Medallion Resources Announces Red Wine Project Reconnaissance Samples Assayed
Medallion Resources Announces Red Wine Project Reconnaissance Samples Assayed
About this update from Gamma Resources Ltd.
[{"type":"text","content":"\nMedallion Resources Announces Red Wine Project Reconnaissance Samples Assayed\n\n\n Oct. 6, 2010 (TheNewswire.ca) -- Vancouver, BC - Medallion Resources (TSXV:MDL) Ltd (TSX-V : MDL - \"Medallion\" or the \"Company\") announces that rare-earth-element (REE) assays have been returned for the samples collected during the Company's reconnaissance sampling program at its Red Wine heavy REE project in Labrador. The sampling is part of the 2010 exploration program, which Medallion is conducting as part of its requirements for acquiring a 100% interest in the six mineral licenses that comprise the Red Wine Property (the \"Property\").The field crew collected 35 grab samples during a one-week reconnaissance trip to the property. Nineteen of these samples contain the mineral eudialyte in estimates ranging from minor amounts to as much as 20%. Eudialyte, known to contain the heavy REE's, commonly occurs at Red Wine and has been historically reported as a significant constituent in three distinct Red Wine rock types (Curtis, L W, and K L Currie, 1981, Geology and petrology of the Red Wine alkaline complex, Central Labrador: Geological Survey of Canada, Bulletin 294, 61 pages). Medallion's field crew collected eudialyte-bearing samples from each of these three rock types.\"We have confirmed that Medallion's Red Wine Property holds significant promise as a REE prospect,\" reports Dr. Bill Bird, President of Medallion. \"Significant quantities of eudialyte and a higher-grade REE mineralization were discovered. We also observed that these Red Wine rocks contain two or more distinct styles of REE mineralization. Mineralogical studies to sort out these different styles of REE occurrences are underway at Dr. Tony Mariano's lab. Because mineralogical observations do not match assay results for certain samples and elements, the samples have been resubmitted for assay, as a precautionary measure, to ensure that we have correct analyses and to determine if any additional analytical procedures are required.\"\"Our initial results are encouraging; but, we have yet to locate the areas containing the very high eudialyte content that was reported historically by the Geological Survey of Canada,\" added Dr. Bird. \"Consequently, we are launching immediately an additional sampling program focused on locating the higher-grade eudialyte areas and providing m...