Margaret Lake Diamonds provides update on Letain Awaruite Nickel project
Margaret Lake Diamonds provides update on Letain Awaruite Nickel project
VANCOUVER, B.C. / November 2, 2021 / Margaret Lake Diamonds Inc. ("MLD" or the
"Company") (TSXV:DIA) (FKT:M85) (OTC PINK:DDIAF) is pleased to announce it has now
received the analysis and mineralogy results of the rock chip samples from the Letain Property
located within the Cassiar Mountains approximately 70 kilometers ESE of Dease Lake in
northern BC. The Letain Ni-(Co-Cr) property covers part of the Cache Creek Complex, which is
an obducted ophiolitic sequence. Early exploration work demonstrates that ultramafics host
natural occurring Ni-Fe alloys, and that fine to medium awaruite grains are disseminated in the
serpentinized host rock. The peridotite also contains late stage fracture filling nephrite
(associated with apple green coloured, sheared texture picrolite and lizardite) hosted in
antigorite-magnetite bearing serpentinite. In 2011, First Point Minerals conducted rock chip
sampling that confirmed the presence of awaruite disseminated within the ultramafic (peridotite,
dunite, mafic dyke) complex.
Fieldwork carried out by Margaret Lake in 2021 included 10 outcrop rock chip samples (1 meter
chip channel interval and 4 kilogram size) taken from a 100 X 350 meter area located in the
northeast (lower elevation) portion of the Letain nickel property. Rock samples were shipped to
SGS Canada (Burnaby, BC, ID 18701-01). A total of 9 out of 10 rock samples (Let-2-10),
averaged 17.2% total magnetic separated minerals. Rock chip sample Let-1, a 1-meter wide dyke
(distinct lithology from the other 9 samples), returned 0.74% total magnetic minerals and was not
included in the composite sample. QEMSCAN (quantitative evaluation of materials by scanning
electron microscope) analysis of the composite sample identified minor awaruite, Ni sulphides,
Cr-minerals, magnesite/brucite, Cu sulphides, Fe sulphides, titanite, andradite and apatite in a
gangue of serpentine, olivine, magnetite, amphibole, clinopyroxene, mica, quartz, carbonate,
chlorite. QEMSCAN reports 0.02% awaruite in the composite sample as fine grain size (4-12
micrometers) and does not list any coarse grain awaruite (>100 micrometer equal to 1/10 of a
mm). The presence of awaruite is of significance because it is a rare mineral and the highly
magnetic coarse grain awaruite separates readily in Davis Tube testing. SGS Canada is writing a
final report on the preliminary results of testing, and Margaret Lake will use the data for
evaluating exploration for coarse grain awaruite, further sampling is planned. A Cumulative
Retained Grain Size distribution chart as follows:
Figure 1 – Note the red line provides a good idea of the fine grain nature of the awaruite
The area of awaruite and other nickel-bearing minerals (with elevated Co and Cr) are within a
800 X 1,500 meter area hosted in serpentine-olivine-magnetite. Further geochemical sampling,
magnetometer surveying, QEMSCAN and preliminary metallurgy is planned for a larger area of
the property, in order to drill test the most prospective awaruite bearing mineralization.
Geochemical analysis of 10 rock samples by SGS are reported as follows:
Sample#
Ni
%
Co
%
Cr
%
Mg
%
Fe
% S %
Let-1 0.02 0.006 0.04 6.69 11.37 0.016
Let-2 0.21 0.011 0.24 24.49 4.3 0.036
Let-3 0.21 0.01 0.28 24.68 5.6 0.017
Let-4 0.23 0.01 0.29 24.74 5.46 0.02
Let-5 0.21 0.013 0.3 18.66 13.32 0.007
Let-6 0.21 0.011 0.26 25.57 6.32 0.007
Let-7 0.22 0.011 0.27 22.69 6.3 0.009
Let-8 0.22 0.01 0.25 24.27 5.94 0.006
Let-9 0.22 0.01 0.26 21.06 8.37 0.006
Let-10 0.22 0.009 0.26 24.07 4.82 0.009
Average of 0.22 0.01 0.27 23.36 6.71 0.01
rock samples
Let-2 to 10
Qualified Person
Andris Kikauka (P.Geo) is a non-independent Qualified Person within the meaning of 43-101,
and has prepared, reviewed and approved technical information in this press release.
Contact Information
Neil Foran
Chief Executive Officer
(604) 681-7735
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 id entified by words such as: "believe", "expect",
"anticipate", "intend", "estimate", "potentially" 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 results 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 m ore complete
discussion of such risk factors and their potential effects, which may be accessed through the
Company's profile on SEDAR at www.sedar.com.