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Medallion's Eden Rare-Earth Project explores for rare-earth elements (REE's) at one of North America's most prospective REE-enriched carbonatite complexes, located just east of Eden Lake in western Manitoba, Canada. Project Highlights
Applications for the Rare-Earth Elements - Keys to a Green 21st Century
Medallion Focuses on Rare-Earth Elements Medallion Resources Ltd focuses on the acquisition and advancement of significant properties containing the rare-earth elements (REE's), which are required for energy conservation, storage, use and efficiency. The REE's are key to many green, 21st-Century energy technologies, which are used in consumer and industrial products. Hybrid cars (in batteries, motors & generators) use several kilograms of REE's. Modern wind generators each use up to 250 kilograms of REE's. New energy-efficient technologies, such as that found in already-operational magnetic heating, refrigeration and air-conditioning equipment, will further drive major markets for the REE's. The Eden REE Project is Medallion's first in a series of REE acquisitions. Medallion plans to position itself, through acquisitions and the application of advanced exploration techniques, at the forefront of the REE exploration industry.
 Eden Lake, Manitoba from the claims Eden Project Location
Option and Land Position Medallion's Eden Rare-Earth Project controls the Eden Lake REE-rich carbonatite complex through an option ("Option") to earn a 65% interest in a joint venture to explore the carbonatite complex. The claims that cover the carbonatite complex ("Claims") are owned by Rare Element Resources Ltd ("RES"). These comprise eight crown mineral claims (1871 hectares) registered in the province of Manitoba. In order to maintain Medallion's Option to earn a 65% interest in the Eden Lake-complex exploration joint venture, Medallion, over a five-year period, must complete the following cash and share payments to RES and complete the following Claim-exploration work-commitment expenditures:
Production from the claims is subject to a 3% Net Smelter Return royalty ("NSR"), which is in favour of the prospector that originally staked the claims. Half of this NSR may be purchased for $1.5 million. Medallion will be the operator of the project during the Option period and, as the majority interest holder, it will be the operator of the joint-venture project, as well. Environmental, Social and Permitting Situations No unusual environmental, social or permitting situations are anticipated for the Eden Rare-Earth Project. Initial exploration work, which creates no significant disturbances, does not require a major permit. Drilling requires a more significant permit; however, applications and approvals for these are not onerous nor time consuming. The large area around Eden Lake, including the Eden Rare-Earth Project, has been designated as a "rank 4" Area of Special Interest ("ASI") by the province of Manitoba. The "rank 4" ASI is the lowest-level administrative designation and it is used in areas of little, or no development to outline commercial-resource potential. It is not a precursor to "protected-area" status (ranks 1 through 3 are used as part of "protected-area" process) and it does not require any unusual actions or permits on the part of mineral explorers. The "rank 4" ASI designation will actually assist with the organization of the normal local-community consultation processes that are required now for all exploration and mining projects in Canada. As the Eden Project exploration proceeds, Medallion intends to establish and maintain contact with provincial agencies and all interested parties to ensure that it complies with all appropriate environmental and social requirements. There are no First Nations, Metis or aboriginal or other communities within or near the Eden REE Project claims. The area lies within the Marcel Colomb First Nation's area of community interest. Medallion Has met with the Marcel Colomb people and has established a good working relationship with them. There are no known endangered species within the Eden Lake ASI and there are no environmental organizations that have any unusual interest in the Eden REE Project claims or the Eden Lake ASI. The Province of Manitoba has demonstrated a serious interest in assisting the exploration and mining community in its actions to comply with the technical, environmental and social standards of the industry. Manitoba has been selected by a poll of the mining industry as the second-best jurisdiction (among 72 worldwide) in which to explore for, and mine mineral resources (Fraser Institute's Annual Survey of Mining Companies 2008/2009). Medallion looks forward to working in mining-friendly Manitoba.
Location of the eight Eden REE Project Claims on the east side of Eden Lake
Discovery of the Occurrence and Character of Rare-Earth Elements at Eden Lake Rare-earth elements have been known at Eden Lake only since 1988, when detailed sampling by the Manitoba Energy and Mines Minerals Division discovered elevated levels of REE's in the core area of the Eden Project. At that time, the discovery was only of moderate interest because REE's were not thought to be of great importance. As with much of Manitoba, gold, nickel and base metals were of far more interest than REE's. Gold continued to draw exploration interests to the Eden Lake area through the end of the century. The area was included as a high-priority target by the Manitoba Geological Survey in its province-wide search for Olympic Dam-type iron-oxide-copper-gold (IOCG) deposits. The alkalic nature of the host intrusive rocks, with elevated levels of REE's, is a key part of the IOCG exploration model. The full characterization of the Eden Lake area as a major REE occurrence came in 2002, when REE-rich carbonatite intrusive rocks were discovered during an intense IOCG-exploration program. At the same time, more detailed high REE assays highlighted the widespread occurrence of REE's in pegmatite, hydrothermal veins and metasomatic replacements. The early work on the REE occurrences, after their initial characterization, was hampered by the only moderate interest in the REE's. The owner of the claims at that time was not able to create enough market interest in the REE's to finance an all-out Eden Lake REE exploration program. The company even changed its name to reflect a new focus on more market-friendly nickel and base-metal projects. The last activity was a 2006 reconnaissance drill program of six shallow holes in one area of the claims. There was no follow-up or any attempt to explore the rest of the eight-square kilometres of intense mineralization. Many favourable REE targets have not been adequately tested. Additional exploration for yttrium and the more-valuable heavy REE's also is warranted.
Drs Tony Mariano (right) and Jim Clark (left), consulting REE mineralogists, on an outcrop of altered syenite in the western portion of the Eden Lake rare-earth property. The altered syenite (fenite) contains significant amounts of rare-earths over broad areas. Eden Lake is in the background. The area of the Eden REE Project is underlain by alkalic igneous rocks ranging in composition from early intermediate, mafic and ultramafic bodies to later potassium-feldspar-rich syenite and pegmatite bodies. The early, more mafic rocks are extensively altered, shattered and invaded by later syenite and pegmatite to produce complex veins, stockworks and blocky breccia. Carbonatite, which hosts REE mineralization, is a rare type of igneous rock made up entirely, or to a great extent, of carbonate minerals. It is a key host of REE's around the world. At Eden, carbonatite dikes and plugs occur in close association with syenite and fenite (potassium) alteration. Various intrusive structures mapped during the 2002 field work indicate that a much larger carbonatite stock could lie below the eight-square kilometres of intense mineralization. The carbonatite is thought to predate the pegmatite and late hydrothermal alteration and deposition. Alkali metasomatic alteration is pervasive. Early sodium alteration is followed by later stages including hematitization, potassium+sodium and potassium+carbonate alteration. Multiple Styles of Rare-Earth-Element Mineralization The chemical and physical properties of the REE's prevent them from occurring in common rocks, which results in REE concentrations in late-stage alkali-igneous rocks. These late stages include other reactive and volatile chemicals that alter and fracture the pre-existing rocks, into which they are injected. These late-stage "mineralizing" events are the processes that create ore deposits. Combinations of repetitive mineralizing processes create the maximum opportunities for concentrating ore minerals. The Eden REE Project property contains a combination of four distinct styles of REE mineralization, which occur within an intensely altered and mineralized seven- to eight-square-kilometre area. They are all part of the intense late-stage REE concentration process that took place at the end of deposition of the alkalic igneous complex. These repetitive mineralization styles, listed in order of deposition, are as follows: Carbonatite -- The carbonatite with fenite alteration, associated with late-stage Pegmatite -- Pegmatite is very coarse-grained and generally is the last rock to Metasomatically altered host rock -- Through a process known as metasomatism,
Drs Tony Mariano, Bill Bird and Jim Clark (left to right) examine a sample of high-grade rare-earth vein from the Eden Lake property, Medallion sample- and core-storage facility at Leaf Rapids, Manitoba, just south of the Eden Lake property. Medallion's REE Exploration Program With the recent REE discoveries and the early stage of work at Eden Lake, the opportunity for the definition of significant mineralization is exceptional. A two-phase program is needed to further this definition. The first-phase-program goal, which will be completed in 2010, is to locate drill targets throughout the 56-square-kilometre, intensely mineralized REE core area. These targets will focus on the following:
Collecting new-growth alder branches for geobotanical prospecting.
The previous exploration work, particularly the 2002 discovery and characterization studies and the 2006 reconnaissance drilling, provide a good basis, including known untested targets, for this first phase of a new generation of work. The following steps and budget outline the program: Gravity Survey
Geobotanical Surveys Phase One Exploration Total $ 362,600 The second-phase program goal is to define and expand the REE mineralization. The major component of the second phase is a significant drill program. The number of holes and resulting budget depend on the data gathered during the first-phase program. It is possible that some of this drilling can be accomplished in 2010. A second-phase drill program budget is anticipated to be up to $2 million. Eden REE Project Funding Medallion will need to raise additional funding to complete the first-phase Eden REE Project. The most expensive line item, the airborne geophysical survey, is already complete and funded. The first round of these fund-raising efforts is complete. Medallion has approximately $250,000 working capital. Funding for the remainder of the work, along with funding for additional Medallion REE property acquisitions, will be raised by private-placement equity sales during the spring of 2010. Funding is available through flow-through-share programs and Medallion expects to make use of this source. |
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The Eden REE Project is located on the east shore of Eden Lake in the Leaf Rapids district of Manitoba (project centred on 56o39'N Latitude, 100o9'W Longitude; search "Eden Lake, Manitoba" for Google Maps location). It is approximately 20 kilometres northwest of Leaf Rapids, Manitoba, and 170 kilometres northwest of Thompson, Manitoba (map to left). Thompson is the major service centre in western Manitoba. Project access is by float plane or helicopter from Thompson or Leaf Rapids. A ten-kilometre winter logging road connects the project claims with Highway 391 to the north. There is also boat access along the west edge of the claims via an Eden Lake dock on Highway 391. Hydroelectric power is available at Leaf Rapids to the south.
