New Kimberlite Targets Identified on Diagras Project, Lac de Gras NWT.
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MARGARET LAKE DIAMONDS INC.
New Kimberlite Targets Identified on Diagras Project, Lac de Gras NWT.
September 1, 2017, Vancouver, British Columbia - Margaret Lake Diamonds Inc. (“the Company”) along
with our joint venture partner Arctic Star Exploration Corp. are pleased to report results from the recently
concluded exploration program on the Diagras property.
The Diagras Property is located in the prolific north-northeastern (NNE) part of the Lac de Gras kimberlite
field, 22 kilometers NNE of the Diavik diamond mine (Rio Tinto 60%, Dominion Diamonds 40%) and 36
kilometers east of the Ekati diamond mine (Dominion Diamonds) along a wide corridor of diamond
deposits that include kimberlite pipes that are mined or planned to be mined, namely, A21, A418, A154S,
A154N, Lynx, Misery, and Jay. All these >1 carat pe r tonne diamond bearing kimberlites lie within a ve ry
tight NNE corridor, thought to represent a structur e and/or feeder dyke that formed these kimberlites.
Jay, the nearest of these pipes is 8.9 km from the Diagras Property boundary. The corridor is currentl y
known to be about 20 kilometers long with groupings of mineable kimberlites every 7-8 kilometers
The Diagras property is comprised of 23 claims tota ling 18,699 hectares and is a Joint Venture between
Margaret Lake Diamonds Inc. (60%) and Arctic Star Exploration Corp. (40%).
Field crews implemented a ground geophysical program at Diagras this spring utilizing ground magnetics
(129 line kilometers), ground gravity (23 line kilometers) and ground electromagnetics (22 line kilometers)
techniques (see News Release Aug. 5, 2017). The sur vey program was comprised of 11 separate
geophysical surveys to further evaluate areas of known kimberlites as well as evaluate unresolved targets
generated from public domain data.
Table One: Kimberlite and kimberlite like targets evaluated in the Spring 2017 program.
Kimberlite or Target Magnetics (Line Km) Gravity (Line Km) EM (Line Km)
Jack Pine 39.02 11.26 9.94
Black Spruce 20.02 11.57
Suzanne 18.55
HL -02 8.66 12.46
HL -55 8.13
Naomi 16.34
Kong (East / West) 18.72
129.44 22.83 22.40
The Diagras property contains 13 kimberlites discov ered in the 1990s by De Beers, some of which were
further evaluated by Majescor Resources Inc. in the early-mid 2000s (see News Release Nov. 14, 2016).
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The Joint Venture partners have obtained public domain data from this work as made available by news
releases and assessment reports filed as part of maintaining title in the Northwest Territories.
Margaret Lake Diamonds’ approach to advancing the project further is to apply detailed, modern ground
geophysical techniques in anticipation of defining additional kimberlite(s) or kimberlite phases that may
not have been evaluated in the past. This approach has been successful elsewhere, such as at the Kennady
Lake project with the additional discoveries of diamondiferous kimberlites at Kelvin and Faraday.
The Company believes that our approach has worked a nd the recently completed ground geophysical
surveys have been successful. At the Jack Pine kimberlite all 3 geophysical methods successfully extended
the anomalous area beyond the currently known kimbe rlite footprint in defining additional possible
kimberlite phases. Jack Pine has previously been de scribed by Majescor as having a north-south axis
extending more than 500 meters and an approximate s urface expression of 4 to 5 hectares. The Joint
Venture has delineated an additional significant kimberlitic geophysical response to the north of the 2005
Majescor area of drilling, believed to represent a possible new discovery which will require verification by
drilling. The new anomaly, named Sequoia, is approx imately 500 meters in a north-south direction and
displays semi-coincident responses in magnetics, gr avity and EM. When combined with Jack Pine, the
Sequoia anomaly doubles the geophysical footprint o f the complex potentially making it the largest
kimberlite complex in the Lac de Gras field.
At the Black Spruce kimberlite, the Joint Venture also notes a significant geophysical response not believed
to have been previously evaluated. The original kim berlite discovery is defined by a magnetic low
signature which corresponds to previously announced diamondiferous drill results by Majescor. In
addition to this, our recent work has a series of g ravity lows which extend up to 200 meters both sout h
and east of the magnetics. To the east, the gravity anomaly coincides with a clear break in a strong
magnetic dyke feature (probably representing a diabase). This phenomena is noted elsewhere in the Lac
De Gras kimberlite field where a non-magnetic kimberlite disrupts the diabase (this occurs at Jack Pine for
example). Drill testing will be required to determine if the gravity targets represent kimberlite.
Other surveys conducted during the spring program also returned kimberlite-like geophysical signatures
in and around known kimberlite bodies for which the Company has no record or evidence of previous
evaluation.
Drill testing and further geophysical evaluations a re planned to be conducted concurrently in the spri ng
of 2018.
About Margaret Lake Diamonds Inc.
Margaret Lake Diamonds Inc. is a diamond exploratio n company focused on the Northwest Territories,
Canada with two exploration properties: the Diagras project as updated in detail above and the Margaret
Lake project, adjacent to Kennady North and in clos e proximity to Gahcho Kue, the newest Canadian
diamond mine owned by De Beers and Mountain Province Diamonds.
Qualified person
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The technical data in this news release have been reviewed by Mark Fields, PGeo, 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.ca
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.