Mountain Province Diamonds Reports On Gahcho Kué Exploration Program

by pmnationtalk on July 12, 20187 Views

Toronto and New York, July 12, 2018 – Mountain Province Diamonds Inc. (“Mountain Province”, the “Company”) (TSX and NASDAQ: MPVD) today provides an update on the exploration program currently under way in the immediate vicinity of the Gahcho Kué mine. As outlined in the Company’s news release of April 10, 2018, the current program is focused on three objectives; drill test potential extensions to the Hearne pipe, particularly between the north and south lobes, drill test the corridor between 5034 and Tuzo, particularly around the North Pipe kimberlite which is open in all directions for expansion, and drill test a ground gravity anomaly, referred to as the Curie target, between Tesla and Tuzo identified in the immediately preceding exploration program.

Drilling completed at Hearne under the present program has confirmed that the north and south lobes of the body are connected by a kimberlite breccia. The kimberlite breccia is present at 40 metres depth vertically from the surface and extends vertically to at least as deep as 220 metres from surface. A summary of the results from the drill program is provided below:

Intercept1 (m) Intercept True End of
Drill Hole Azimuth Inclination From To Length Thickness2
Hole (m)
(m)
MPV-18-458C 273 -51 231.34 284.65 53.31 40.90 320
MPV-18-459C 228 -54 380
MPV-18-461C 293 -53 284
MPV-18-462C 250 -50 54.00 102.78 48.78 27.30 134
MPV-18-464C 297 -53 413
MPV-18-466C 280 -50 416

1The intercept for MPV-18-458C is composed 96% of kimberlite granite breccia with 4% internal granitic dilution. The intercept for MPV-18-462C is composed 98% of kimberlite granite breccia with 2% internal granitic dilution. Kimberlite granite breccia is defined as having greater than 50% kimberlite present. 2Defined as the horizontal distance between drillhole contacts based on Hearne as a linear shape striking at an average azimuth of 353o and with vertical contacts.

Drill testing of the corridor between 5034 and Tuzo is currently ongoing. The initial focus has been the zone between the 5034 pipe and the North pipe, and the zone extending immediately northeast of the North pipe. Drilling has so far 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 towards Tuzo.

Drilling at the Curie target has identified a kimberlite body that is likely a blowout of the Dunn kimberlite sheet, located in an area of the northwest wall of the planned Tuzo pit towards the Tesla pipe. The vertical extent of the body remains untested under the current program.

The current drill program is nearing completion, and summarized results regarding both the 5034-Tuzo corridor and the Curie target will be issued once field logging and analysis has been completed.

Said Stuart Brown, the Company’s President and Chief Executive Officer, “We are encouraged by the success of this near-mine exploration program. The continued discovery of further kimberlite emplacement beyond the existing resource base is a positive development towards our goal of extending the defined mine life at Gahcho Kué.”

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Mountain Province Diamonds is a 49% participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada’s Northwest Territories. Gahcho Kué 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, Ph.D., P.Geo., technical advisor to Mountain Province and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mountain Province Diamonds Inc.
Stuart Brown, President and CEO
161 Bay Street, Suite 1410
Toronto, Ontario  M5J 2S1
Phone: (416) 361-3562
E-mail: info@mountainprovince.com

NT4

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