Margaret Lake Diamonds Inc. has commenced a ground geophysical program on the Margaret Lake Property
Margaret Lake Diamonds Inc. has commenced a ground geophysical
program on the Margaret Lake Property
May 17, 2017- Vancouver, British Columbia — Margaret Lake Diamonds Inc. (“MLD”, the “Company”)
(TSXV: DIA), is undertaking ground geophysical surv eys related to the 12 priority targets previously
defined by airborne gravity gradiometry (“AGG”) on the Margaret Lake property. The current work
comprises ground gravity and electromagnetic survey s in conjunction with bathymetry to upgrade
target definition and ranking.
The Margaret Lake Diamond Property (the “Property” or the “Claims”) is comprised of 23 mineral claims
totaling 23,199 hectares contiguous to the north an d west of Kennady Diamonds Inc.’s Kelvin and
Faraday projects. MLD has a 100% interest in the P roperty. The Property is located 300 kilometres
(“km”) east-northeast of Yellowknife in the Distric t of Mackenzie, Northwest Territories. The Claims lie
just 78 km north of the East Arm of Great Slave Lak e, and are in proximity to the De Beers / Mountain
Province Diamonds Gahcho Kué joint venture, which i s Canada’s newest diamond mine to establish
commercial production .
Originally, the 12 high priority targets were selec ted from over 60 distinct gravity anomalies generat ed
by the AGG survey. Targets were given priority bas ed on anomaly strength, shape, and structural
setting. Anomalies with favourable coincident magn etic and electromagnetic (“EM”) responses were
assigned a higher priority, as were those in the vi cinity of till derived indicator minerals from prio r
exploration surveys.
The HeliFALCON® gravity gradiometer system combined with airborne magnetics was flown on 75 metre
line spacing at an average 45 metres above terrain. A digital terrain model together with detailed
bathymetry, using WorldView2 high-resolution satell ite imagery, was then applied to the gravity data.
Bathymetry is required to distinguish the effect of water depth on the gradient signal, which can
generate false kimberlite-like anomalies.
The bathymetry corrected gravity data was then examined in grid image and profile form. Twenty three
higher priority targets were modelled using VOXI e arth , a cloud-based inversion service provided by
Geosoft (i.e. ‘pure property inversions’), where a voxel (cell) representation of the earth is invoked, the
goal being to find a 3D function that characterizes the physical property distribution. This modellin g
process proved to be a useful filter.
The current work program is endeavouring to cover the majority of the defined targets giving priority in
order of initial ranking. This additional geophysic al data will be utilised to enhance target definiti on for
the next phase of exploration which will be a proposed drill program.
About Margaret Lake Diamonds Inc.
Margaret Lake Diamonds Inc. is a diamond exploration company focussed on the Northwest Territories
with two exploration properties. The Diagras project is as detailed in a May 8, 2017 news release by the
company. The other project is Margaret Lake (adjace nt to Kennady north and in close proximity to
Gacho Kué, the newest Canadian diamond mine owned b y De Beers and Mountain Province Diamonds)
and is as detailed elsewhere in this news release.
Qualified Person
The technical data in this news release has been re viewed by Mark Fields P. Geo., a Qualified Person
under the provisions of National Instrument 43-101.
For further information, please contact:
Margaret Lake Diamonds Inc.
Paul Brockington, President and CEO
Phone: 604-630-2810
Website: www.margaretlake
Forward-looking Information
This news release contains forward-looking informat ion that involves various risks and uncertainties
regarding future events. Such forward-looking infor mation 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 a nd 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 o n the dates they are made and expressed
qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking
information should circumstances or management’s estimates or opinions change.
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.