Margret Lake Increases land position, Diagras project, adds 8 kimberlites
Margret Lake Increases land position, Diagras project, adds 8 kimberlites
Vancouver, British Columbia / Oct 11 th 2018 / Margaret Lake Diamonds Inc. (TSX.V: DIA /
FSE: M85) (“Margaret Lake” or the “Company”) reports that it has staked 8 new mineral claims
adjoining the pre-existing Diagras property in the Northwest Territories, a joint venture between
Margaret Lake (60%) and Arctic Star Exploration (40 %). The new claims cover 3,896 Hectares
and now the Diagras property (“Property”) totals 22,595 hectares, within 29 mineral claims.
The new claims cover eight previously discovered ki mberlites, bringing the property total to 20
known kimberlites.
Diagras is located in the prolific Lac de Gras diamond field just 35 kilometers 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 Company exploration strategy has been to conduct ground gravity, Magnetic and EM surveys
over and around the known kimberlites in search of previously undiscovered kimberlite or non-
magnetic kimberlite phases.
The ground geophysical work carried out to date has generated drill targets near the HL02,
Suzanne, Jack Pine, and Black Spruce kimberlites.
The Company plans to conduct further geophysical su rveys in Spring 2019 followed by a drill
program. Table 1 below lists the known kimberlites, with a description of what work has been
completed to date, on the Property.
Table 1 Known Kimberlites, Completed Work, Drill Targets
Kimberlite Comments Mag Gravity EM Drill Target Identified
Lyndsey No data available X
TAZ HL-04 Mag low in lake X
Dodi Possible EM
conductor
X
HL-02 EM and Mag VK X X Yes
Kong W Mag low HK X
Kong E Mag Low X
Naomi No data available X
Nadine No data available X
Suzanne No data available X X X Yes, target linear EM and
gravity
Black Spruce Mag Low X X Yes, gravity target to south
of known kimberlite
Jack Pine
Mag Low X X X Yes, gravity target to the
north of known kimberlite
named Sequoia
Krista Mag Low X
Anne Mag Low
Penelope
DG007
Mag low airborne
EM airborne
X
George Airborne Mag Yes, Airborne mag low
Drew Airborne Mag and EM Yes, Airborne mag low and
conductor
Tabatha Possible airborne EM Yes, Possible airborne
conductor
Finlay Airborne Mag Yes, Airborne mag low
Emily No data available
Don No data available
HL-01 Airborne Mag Yes, Airborne mag low
Petra Airborne EM Yes, Airborne conductor
Hanna No data available
Table Notes:- HK = Hyperabyssal Kimberlite
VK = Volcanoclastic kimberlite
EM = Electromagnetic
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 diamo nd exploration company focused on the
Northwest Territories, Canada with two exploration properties. The Company has the Diagras
property a 60/40 joint venture with Arctic Star Exploration Corp. (TSX.V: ADD), which is comprised
of 29 claims totaling 22,595 hectares located in th e prolific Lac de Gras diamond field. This
property comprises 20 known kimberlites. The 2 nd project, called Margaret Lake, is adjacent to
Mountain Province Diamonds Kennady North project an d in close proximity to Gahcho Kué, the
newest Canadian diamond mine owned by De Beers and Mountain Province Diamonds.
ON BEHALF OF THE BOARD OF DIRECTORS
“Paul Brockington”
Paul Brockington, President and Chief Executive Officer
For further information, please contact:
Margaret Lake Diamonds Inc.
Paul Brockington President and CEO
Phone: 604-630-2810
Website: www.margaretdiamonds.com
Forward-Looking Statements
This news release contains forward-looking informat ion 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 estim ates 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 Ser vices Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.