Medallion Resources Ltd fka MDL

[sumisu]

Romaine Iron-Titanium Assays Support Higher-Grade Mineralization

Thursday January 15, 9:30 am ET

TSX-V: MDL

VANCOUVER, Jan. 15 /CNW/ - Medallion Resources Ltd ("Medallion" or the "Company" - TSX.V: MDL) announces that the assays for surface-core samples, collected during the Romaine Iron-Titanium Project fall field program, support the potential for higher-grade iron-titanium mineralization than recorded for the historical resource. Of the 74 samples assayed, 67 were taken from the main body of presently defined mineralization. These 67 averaged 30.39% iron oxide (Fe(2)O(3)) and 13.66% titanium oxide (TiO(2)). The data represent percentage increases over the historical grade of 14.76% for iron oxide and 26.46% for titanium oxide.

President William Bird reports, "The new data from our recent Romaine Iron-Titanium Project mapping and sampling program are very encouraging. These results continue to add evidence for potentially higher grades and tonnages than expressed in the historical work. First, our fall field work outlined additional outcrop area that could lead to higher tonnages. Now, we have assayed a significant population of representative samples, collected systematically over the entire continuous 2.5-kilometre outcrop of the main body of mineralization, that support potentially higher grades."

The surface-core samples were collected along 20 evenly spaced traverses, which were perpendicular to the 2.5-kilometre strike length of the mineralization, using a technique designed to produce suitable material for chemical and mineralogical analyses and for metallurgical testing. A concrete drill extracted, from each sample site, two closely spaced 30- to 35-centimetre cores. Each of these cores is four centimetres in diameter and weighs 1.8 to 2.0 kilograms. This method is more reliable than channel sampling and it provides a sample of the surface mineralization that is free of most weathering effects and of the potential high- or low-grading problems that are often associated with the usual surface-sampling techniques.

Seventy-four surface core samples, collected during the program, were analyzed at SGS Lakefield Research Limited using the industry-standard assay method of whole-rock lithium borate fusion with X-Ray-Fluorescence finish. The results for the 67 samples collected from the main mineralization area are as follows:

[samples in following link]

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