Mountain Province Says Results of New Exploration at Gahcho Kué are Encouraging

Mountain Province logo

Describing the interception of kimberlite in all six of the exploration holes drilled in new areas around the Gahcho Kué mine as “encouraging”, Mountain Province Diamonds in a recent update on its current exploration programme, said this could lead to changes in the mine’s resource estimate.

The statement added that it aims to have the results of the current drill programme completed by mid-2018 and subsequently prepare a resource estimate for the new areas for eventual incorporation into the Gahcho Kué mine plan.

Mountain Province Diamonds is a 49% participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada’s Northwest Territories, the largest new diamond mine in the world. The project currently consists of a cluster of four diamondiferous kimberlites, three of which are being developed and mined under the initial 12 year mine plan.

Additionally, the Company is undertaking an exploration programme in the Southwest Corridor area which lies between the 5034 and Hearne pipes, and in the course of mining activity has been recognized as containing diamondiferous kimberlite that is not included in the project resource statements.

A geophysical programme, comprising a ground gravity survey centred on the Southwest Corridor area as well as other nearby areas, including between the Tuzo and Tesla pipes, was 70% completed in the fall and the remaining 30% will be completed in February. An airborne magnetics and electromagnetics survey spanning the full lease area around the mine, also detected a possible extension of the Tesla pipe to the southwest. Six of the 17 holes that are to be drilled under the exploration programme have been completed.

A subsequent drill program is anticipated to drill test the ground gravity target in the corridor between Tesla and Tuzo, and also to drill test the corridor between 5034 and Tuzo.

Said David Whittle, the Company’s Interim President and Chief Executive Officer, “It is encouraging to have intercepted kimberlite in all six of the exploration holes drilled to date. This is particularly notable given much of the Southwest Corridor is already scheduled under the mine plan to be mined as waste rock. We’re also pleased with the identification of a potential new target in the Tesla-Tuzo corridor.”

News Source:

Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.