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Margaret Lake releases sample results from Letain
2021-11-02 14:00 ET - News Release
Mr. Neil Foran reports
MARGARET LAKE DIAMONDS PROVIDES UPDATE ON LETAIN AWARUITE NICKEL PROJECT
Margaret Lake Diamonds Inc. has now received the analysis and mineralogy results of the rock chip samples from the Letain property located within the Cassiar Mountains approximately 70 kilometres ESE (east-southeast) of Dease Lake in Northern British Columbia. The Letain Ni-(Co-Cr) property covers part of the Cache Creek complex, which is an obducted ophiolitic sequence. Early exploration work demonstrates that ultramafics host natural occurring Ni-Fe alloys, and that fine to medium awaruite grains are disseminated in the serpentinized host rock. The peridotite also contains late stage fracture filling nephrite (associated with apple green coloured, sheared texture picrolite and lizardite) hosted in antigorite-magnetite bearing serpentinite. In 2011, First Point Minerals conducted rock chip sampling that confirmed the presence of awaruite disseminated within the ultramafic (peridotite, dunite, mafic dike) complex.
Fieldwork carried out by Margaret Lake in 2021 included 10 outcrop rock chip samples (one-metre chip channel interval and four-kilogram size) taken from a 100-by-350-metre area located in the northeast (lower elevation) portion of the Letain nickel property. Rock samples were shipped to SGS Canada (Burnaby, B.C., ID 18701-01). A total of nine out of 10 rock samples (Let-2-10) averaged 17.2 per cent total magnetic separated minerals. Rock chip sample Let-1, a one-metre-wide dike (distinct lithology from the other nine samples), returned 0.74 per cent total magnetic minerals and was not included in the composite sample. QEMSCAN (quantitative evaluation of materials by scanning electron microscope) analysis of the composite sample identified minor awaruite, Ni sulphides, Cr-minerals, magnesite/brucite, Cu sulphides, Fe sulphides, titanite, andradite and apatite in a gangue of serpentine, olivine, magnetite, amphibole, clinopyroxene, mica, quartz, carbonate, chlorite. QEMSCAN reports 0.02 per cent awaruite in the composite sample as fine grain size (four to 12 micrometres) and does not list any coarse grain awaruite (greater than 100 micrometres equal to one-10th of a mm). The presence of awaruite is of significance because it is a rare mineral and the highly magnetic coarse grain awaruite separates readily in Davis Tube testing. SGS Canada is writing a final report on the preliminary results of testing, and Margaret Lake will use the data for evaluating exploration for coarse grain awaruite, further sampling is planned. A cumulative retained grain size distribution chart as shown herein.
The area of awaruite and other nickel-bearing minerals (with elevated Co and Cr) are within a 800-by-1,500-metre area hosted in serpentine-olivine-magnetite. Further geochemical sampling, magnetometer surveying, QEMSCAN and preliminary metallurgy are planned for a larger area of the property, in order to drill test the most prospective awaruite-bearing mineralization.
Geochemical analysis of 10 rock samples by SGS are reported as shown in the attached table.
Sample No. Ni % Co % Cr % Mg % Fe % S % Let-1 0.02 0.006 0.04 6.69 11.37 0.016 Let-2 0.21 0.011 0.24 24.49 4.3 0.036 Let-3 0.21 0.01 0.28 24.68 5.6 0.017 Let-4 0.23 0.01 0.29 24.74 5.46 0.02 Let-5 0.21 0.013 0.3 18.66 13.32 0.007 Let-6 0.21 0.011 0.26 25.57 6.32 0.007 Let-7 0.22 0.011 0.27 22.69 6.3 0.009 Let-8 0.22 0.01 0.25 24.27 5.94 0.006 Let-9 0.22 0.01 0.26 21.06 8.37 0.006 Let-10 0.22 0.009 0.26 24.07 4.82 0.009 Average of 0.22 0.01 0.27 23.36 6.71 0.01 rock samples Let-2 to 10