Margaret Lake Diamonds Announces Site Visit at Letain Nickel-Cobalt Project, British Columbia
Margaret Lake Diamonds Announces Site Visit at Letain
Nickel-Cobalt Project, British Columbia
VANCOUVER, BC / June 29, 2021 / Margaret Lake Diamonds Inc. ("MLD" or the "Company")
(TSXV:DIA) (FKT:M85) is pleased to announce a team of geologists have departed Dease Lake, British
Columbia by helicopter to the Letain Nickel-Cobalt project. The deposit is located 80km east from the
south end of Dease Lake. A report has recently been filed in compliance with National Instrument 43-
101, the completed report is available under the Company’s profile on SEDAR at www.sedar.com.
Figure 1 – Site visit to focus on 1km x 1.3km area of known nickel cobalt mineralization.
Letain Nickel
The Letain Ni claims cover ultramafic rocks that consist of variably deformed and serpentinized peridotite
and minor dunite, associated intrusive mafic dykes, and fault-bound volcanic and sedimentary rocks
which are part of the ophiolitic Cache Creek Group allochthonous terrain. Several peridotite-hosted zones
contain fine and coarse Ni-Fe alloy grains (awaruite), which are exposed as bedrock ridges in the east-
central portion of the claim group at 1,700-2,050 m elevation. Disseminated fine to coarser grain awaruite
was found in serpentinized ultramafic rocks. In the north portion of the property the peridotite is massive,
black in colour with fewer vein-fracture textures, however the change in texture of the peridotite appears
to have little or no effect on the Ni-Cr-Co content which appears to be relatively consistent (2,000-3,000
ppm Ni, 1,000-3,000 ppm Cr and 100-150 ppm Co) throughout the ultramafic complex exposed on
Tenure #1058958. Samples from the central ridge of the property delineated a 1,100 metre long
discontinuous zone of coarse-grained (>100µm) awaruite. Rock chip samples (25 in total) in 2018
covered a 1 km x 1.3 km area located in the east-central part of the claims, where First Point Minerals
discovered fine and coarse-grained awaruite (native Ni-Fe) mineralization in 2010-2011. Awaruite
mineralization occurs in 2 different habits, fine Ni-Fe alloys or larger composite grains. Fine awaruite
grains (10-100 µm) are disseminated in the serpentine matrix. NiFe alloys have a highly reflective
white/silver color. Larger composite grains (100-300 µm) are a mixture of Ni-Fe alloys and lesser Ni-Fe
sulphides. Awaruite (native Ni-Fe) occurrences are the main focus of economic mineralization on the
Letain nickel property.
Qualified Person
The Qualified Person for this news release is Jo Shearer, an independent economic geologist with
extensive experience in mineral exploration throughout North America. A Qualified Person under the
provisions of National Instrument 43-101.
Contact Information
Neil Foran
Chief Executive Officer
(604) 681 -7735
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of
the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This press release contains forward -looking information or forward-looking statements (collectively
"forward-looking information") within the meaning of applicable securities laws. Forward -looking
information is typically identified by words such as: "believe", "expect", "anticipate", "intend",
"estimate", "potent ially" and similar expressions, or are those, which, by their nature, refer to future
events. The Company cautions investors that any forward -looking information provided by the
Company is not a guarantee of future results or performance, and that actual r esults may differ
materially from those in forward -looking information as a result of various factors. The reader is
referred to the Company's public filings for a more complete discussion of such risk factors and their
potential effects, which may be acce ssed through the Company's profile on SEDAR
at www.sedar.com .