Business
Medallion to shift Eden Lake exploration focus to Rare-Earth Bearing Carbonatite
Feb. 3, 2011 (TheNewswire.ca) -- Vancouver, BC - Medallion Resources Ltd (TSXV:MDL) (TSX-V: ...
About this update from Gamma Resources Ltd.
[{"type":"text","content":"\nMedallion to shift Eden Lake exploration focus to Rare-Earth Bearing Carbonatite\n\n\n Feb. 3, 2011 (TheNewswire.ca) -- Vancouver, BC - Medallion Resources Ltd (TSXV:MDL) (TSX-V: MDL - \"Medallion\" or the \"Company\") announces that the rare-earth-element (REE) assays for samples collected at the Eden REE Project in Manitoba, during its 2010 detailed sampling program, have been returned and all contain elevated levels of REEs. Based on the results, the Company will turn its focus to the large carbonatite potential, one of the four major styles of REE mineralization that occur on the Eden property.\"With multi-million tonnes at the surface and significant REE values, the Eden fenite zone was our first target for the large-tonnage, low-production-cost project that we believe will shape the rare-earth industry future; however, our detailed channel sampling did not find the necessary level of consistent REE grades,\" explained Dr Bill Bird, Medallion's Chairman and CEO. \"We are refocusing our exploration on the REE-bearing carbonatite that occurs throughout the Eden Lake claims. There is potential for a large-tonnage carbonatite, which, as is the case at Molycorp's Mountain Pass mine, is a common host for REE deposits.\"The 2010 sampling program focused on the large surface areas of mineralized and fenitized (alkali metasomatism) syenite and related rare-earth-bearing rocks, which showed potential of a large-surface-tonnage, low-production-cost REE deposit. The average REE grade along the 174 diamond-sawed rock samples taken from continuous channels in the targeted fenite, and 47 surface cores of rock, also taken from the fenite but collected with a portable concrete drill, currently does not support further exploration of this type of material. The remaining 133 samples, of the total 354 samples collected, were grab samples of special-interest rocks from other areas of the property. These also showed elevated REE levels.Medallion intends to provide details on the 2011 plans for the Eden property as those plans are formulated over the next few months. The company will also provide a property update on its Red Wine 2011 project when all of the completed data is received.About Medallion ResourcesMedallion Resources Ltd (TSX-V: MDL) is exploring for large, low-production-cost, heavy-rare-earth-element (REE) deposits with straightfo...