Margaret Lake Diamonds Announces Commencement of Exploration at Diagras Property,
Margaret Lake Diamonds Announces Commencement of Exploration at Diagras Property,
Northwest Territories, Canada
VANCOUVER, BC / ACCESSWIRE / May 30, 2018 / Margaret Lake Diamonds Inc. (TSX-V: DIA;
FSE: M85) (''Margaret Lake'' or the ''Company'') is pleased to report that exploration has commenced on
its Diagras Property (''Diagras'' or the ''Property'') located in the Northwest Territories, Canada.
The exploration program will consist of Gravity, Magnetic and Electromagnetic (EM) ground surveys
focused around historically identified kimberlites as well as other airborne geophysical anomalies with
kimberlite like signatures. This ground work will provide detailed data for further analysis and
interpretation to identify additional kimberlite potential and targets.
Diagras is a contributing Joint Venture (the ''Joint Venture'') between Margaret Lake, which acts as
project operator and holds a 60% interest, and Arctic Star Exploration Corp. (ADD) which holds a 40%
interest. Diagras is located in the prolific Lac de Gras diamond field, Northwest Territories, Canada and
just 35 km from the world-class Diavik diamond mine. The Property lies directly on trend with the Diavik
deposits currently being mined by a joint venture between Rio Tinto and Dominion Diamond Diavik. The
Diagras land package consists of 18,699 contiguous hectares of mineral claims containing 12 previously
identified kimberlites.
Diagras Land Package within Lac de Gras Diamond Field
Detailed, modern ground geophysical techniques are being employed to define possible additional
kimberlite(s) or kimberlite phases missed by previous explorer De Beers Canada, who did not utilize all
these techniques. This exploration approach has been successful elsewhere and recent examples include
the discoveries of additional diamondiferous kimberlite at the Kelvin and Faraday kimberlite complex
(Kennady North project). A second example that further validates the exploration premise is the Tli-Kwi-
Cho DO 27, DO18 kimberlite complex also located in the Lac de Gras diamond field. It comprises
multiple eruptive/intrusive events of kimberlite, each of a different style and with different geophysical
expressions (Mag only, Mag and EM, Gravity, EM and Gravity).
2017 Exploration Program
The Joint Venture was also successful using this strategy during the spring 2017 exploration program.
This work revealed gravity and EM anomalies proximal to known magnetic kimberlites that constitute
compelling drill targets. At the Jack Pine kimberlite, which is one of the largest kimberlite complexes in
the Lac de Gras diamond field (over 1.5km in its longest dimension), the geophysical methods (ground
gravity, EM and magnetics) highlighted obvious magnetic kimberlite phases drilled by previous explorer
De Beers Canada while also successfully defining a new kimberlite-like geophysical expression. This area
remains to be drill tested. Previous drilling elsewhere in the Jack Pine kimberlite complex has
demonstrated it is diamond bearing.
Targets of great interest were also generated in 2017 at the Black Spruce kimberlite. A series of gravity
lows occur adjacent to the south of the known magnetic phase of the kimberlite. One of these gravity
anomalies clearly breaks and disturbs a diabase dyke, a characteristic similar to known Lac de Gras
kimberlites.
Qualified Person
The technical data in this news release has been reviewed and approved by Mark Fields, P.Geo., a
Qualified Person under the provisions of National Instrument 43-101.
About Margaret Lake Diamonds Inc.
Margaret Lake Diamonds Inc. (TSX-V: DIA) is a diamond exploration company focused on the
Northwest Territories, Canada with two exploration properties. The Margaret Lake project is adjacent to
Mountain Province Diamonds Kennady North project and in close proximity to Gahcho Kué, the newest
Canadian diamond mine owned by De Beers and Mountain Province Diamonds. The Company also has a
60/40 joint venture with Arctic Star Exploration Corp. (ADD) to explore the Diagras property, which is
comprised of 23 claims totaling 18,699 hectares located in the prolific Lac de Gras diamond field.
ON BEHALF OF THE BOARD OF DIRECTORS
''Paul Brockington''
President and Chief Executive Officer
For further information, please contact:
Margaret Lake Diamonds Inc.
Paul Brockington
President and CEO
Phone: 1.604.630.2810
Web: www.margaretdiamonds.com
Forward-Looking Statements
This news release contains forward-looking information that involves various risks and uncertainties
regarding future events. Such forward-looking information can include without limitation statements
based on current expectations involving a number of risks and uncertainties and are not guarantees of
future performance of the Company. Actual results and future events could differ materially from
anticipated in such information. These and all subsequent written and oral forward-looking information
are based on estimates and opinions of management on the dates they are made and expressed qualified
in their entirety by this notice.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Margaret Lake Diamonds Inc.