Medallion Resources Ltd. – Romaine River Iron-Titanium Mapping & Sampling Underwayadmin
Medallion Resources Ltd announces that a crew of geologists and samplers is in the field at the Romaine River Iron-Titanium Project, 40 kilometres north of the town of Havre St Pierre, Quebec. Latest reports from the project site confirm that geological mapping is well underway and 40 of 89 planned new sample sites have been mapped and sampled. Initial work is slated to provide due-diligence technical information; however, in order to take advantage of the remaining field season, the program includes a more detailed geological and mineralogical investigation.
The fall 2008 program goals are to construct a detailed geological map, to confirm the extent of the known iron-titanium mineralization, and to systematically collect samples for assay and metallurgical tests. The results, along with an analysis of historical drilling and sampling, will be compiled as an NI43-101-compliant technical report, which is required to complete regulatory approval of Medallion’s acquisition of the Romaine River property (see 2 September 2008 news release). The technical report also will provide recommended drill targets and a work program for an NI43-101 resource estimate.
Over the past three weeks, the crew has re-established a property-access route and campsite originally used by drillers in 1968. The route provides access to the iron-titanium mineralized area 375 metres to the north of the campsite. The campsite, on the north shore of Lac Puyjalon, is supplied by helicopter from Havre St Pierre.
A northeast-trending 1968 survey baseline, which runs the full 2.3-kilometre length of the known iron-titanium mineralization, also has been re-established for use by geologists and samplers and for the drill program planned for 2009. Traverses perpendicular to the baseline provide control for mapping and sampling. Surface samples are taken using portable concrete drills that produce a 25- to 35-centimetre core length of the sampled material. This method of surface sampling, which is not to be confused with diamond-drilling methods, assures a relatively uniform sample and it minimizes the collection of weathered surface material. Weathered material is not suitable for metallurgical tests. Completion of the sampling is planned for early November with results expected by the end of the year. Additional financing will be necessary to complete the fall and winter work programs.