Mountain Province finds kimberlite at Gahcho Kue 2018-09-17 17:47 ET - News Release
Mr. Stuart Brown reports
MOUNTAIN PROVINCE DIAMONDS REPORTS ADDITIONAL KIMBERLITE IDENTIFIED IN GAHCHO KUE EXPLORATION PROGRAM
Mountain Province Diamonds Inc. has provided an update on the exploration program currently under way in the immediate vicinity of the Gahcho Kue mine. The most recent drilling has now identified additional kimberlite in the corridor between 5034 and Tuzo, with true intercepts up to 72 metres in thickness. The Curie target has also been confirmed to have kimberlite intercepts up to 52 metres with the full extent of all the additional kimberlite still to be determined.
The detailed exploration program has focused on three objectives: drill test for extensions to the Hearne kimberlite between the north and south lobes, drill test the corridor between 5034 and Tuzo, particularly around the North pipe kimberlite, and drill test the Curie ground gravity target located between the Tesla and Tuzo kimberlites. Additional kimberlite breccia between the north and south lobes at Hearne was previously confirmed, extending vertically from a 40-metre depth from the surface to at least as deep as a 220-metre depth (see news release dated July 12, 2018).
Drill testing of the corridor between 5034 and Tuzo has focused on the zone between the 5034 pipe and the North pipe and an area immediately northeast of the North pipe. Drilling has confirmed kimberlitic material between the north lobe of 5034 and the North pipe, as well as in the corridor extending northeast of the North pipe toward Tuzo. This new kimberlitic material extends vertically from a 248-metre to a 350-metre depth. At the Curie target, kimberlite was intersected at a vertical depth of only 18 metres, with the deepest intercept at a 119-metre depth. The Curie kimberlite lies within the proposed open-pit mine plan for the Tuzo kimberlite, and midway between Tuzo and the Tesla kimberlite. A summary of results from the drill programs is provided in the attached table.
SUMMARY OF RESULTS FROM THE DRILL PROGRAMS Intercept (1) (m) Drill hole From To Length Intercept true End of hole (m) thickness (3) (m) 5034-Tuzo corridor MPV-18-460C (2) 360.36 394.86 34.50 26.80 452.0 MPV-18-465C (3) 329.00 338.10 9.10 6.80 355.65 356.00 0.35 ND 401.0 MPV-18-467C 389.60 439.90 50.30 32.90 462.2 MPV-18-469C 329.75 443.82 114.07 72.50 473.0 MPV-18-470C 189.65 189.66 0.01 ND 212.0 MPV-18-473C 371.58 383.55 11.97 5.00 629.0 MPV-18-475C 304.20 389.00 84.80 59.00 419.0 Curie kimberlite target MPV-18-463C 35.98 66.50 30.52 ND (4) 93.70 146.40 52.70 ND 195.9 MPV-18-468C 159.77 163.25 3.48 ND 251.0 MPV-18-471C 25.10 37.60 12.50 ND 37.6 MPV-18-472C 33.90 44.60 10.70 ND 257.0 (1) Intercepts are true drilled thicknesses. (2) The 26.8-metre intercept for MPV-18-460C includes 13 per cent granite and granite breccia. (3) The 6.8-metre intercept for MPV-18-465C includes 39 per cent kimberlite granite breccia with less than 50-per-cent internal granitic dilution. The intercept for MPV-18-462C is kimberlite granite breccia. Granite breccia is defined as having greater than 50 per cent kimberlite present. (4) The geometry of Curie is not sufficiently known to determine true thicknesses. Drill holes MPV-18-459C, MPV-18-461C, MPV-18-464C, MPV-18-466C and MPV-18-474C did not intersect kimberlite. ND equals not determined.
Said Stuart Brown, the company's president and chief executive officer: "Our continued success in this near-mine exploration program is very encouraging. The earlier work on the additional kimberlite, identified on the Southwest corridor kimberlites, is scheduled to be classified in the last quarter of 2018 in time for inclusion for the 2019 mine plan. The ranges for potential addition to the resource (100-per-cent basis) are 1.5 [million] to 2.8 million tonnes and 2.2 [million] to 4.2 million carats. Work on developing the model and resource estimates for Hearne and the 5034 North lobe/North pipe extension additional kimberlites is scheduled to be completed in Q1 2019 and will in time potentially be incorporated into a modified mine plan, when completed. These significant kimberlite discoveries are well within the present mine plan area, and there is little doubt that, if economic, will contribute tonnage to extend the mine life at Gahcho Kue."
The current exploration drill program is nearing completion, with detailed logging and sampling of the core now under way. Updates will be provided as this additional work is completed. All exploration surveys and drilling and sampling programs are conducted by De Beers Canada, the company's joint venture partner at Gahcho Kue.
Mountain Province Diamonds is a 49-per-cent participant with De Beers Canada in the Gahcho Kue diamond mine located in Canada's Northwest Territories. Gahcho Kue is the world's largest new diamond mine, consisting of a cluster of four diamondiferous kimberlites, three of which are being developed and mined under the initial 12-year mine plan.
Qualified person
The disclosure in this news release of scientific and technical information regarding Mountain Province's mineral properties has been reviewed and approved by Tom E. McCandless, PhD, PGeo, technical adviser to Mountain Province, a qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects).
We seek Safe Harbor.
© 2018 Canjex Publishing Ltd. All rights reserved.