Lithoquest Diamonds Commences Drill Program on the North Kimberley Diamond Project
NEWS RELEASE
October 3, 2019
TSX-V: LDI
Lithoquest Diamonds Commences Drill Program on the North Kimberley Diamond Project
VANCOUVER, B.C., October 3, 2019 – Lithoquest Diamonds Inc. (TSX-V: LDI) (“Lithoquest”, or the
“Company”) today announced that a truck-mounted reverse circulation drill rig has arrived and begun
drilling on its 100% owned North Kimberley Diamond Project (“NKDP”) located in Western Australia.
The Company anticipates drill testing Targets 1805, 1826 and 1827 during the 2019 program. Additional
targets may also be tested, time permitting. Samples of the drill cuttings will be collected and logged on
site under a strict QA/AC protocol. An XRF (X-ray fluorescence) instrument will be used to confirm the
presence of kimberlite. If intersected, samples of the kimberlite will be submitted to an Australian
laboratory for indicator mineral analysis and diamond testing.
“We are excited to begin our second drill program”, stated Bruce Counts, President and CEO of
Lithoquest Diamonds. “Results to date, including the discovery of the 1804 kimberlite in 2018, indicate
that a field of diamond-bearing kimberlites may be present on the NKDP. The 2019 drill program is an
opportunity to make new discoveries and significantly advance the project”.
The 1804 kimberlite was discovered in 2018 by Lithoquest during its first drill program. It is approximately
600 million years younger than other known kimberlites in the region and is therefore believed to
represent a newly discovered, distinct cluster. Additionally, the 1804 kimberlite is multi-phase and exhibits
volcanoclastic textures. These geological characteristics suggest the potential for large bodies to exist
within the field.
The Company has identified more than 20 priority target areas on the North Kimberley Diamond Project.
Results from field work conducted earlier this year continue to be received and are being used to define
drill targets as well as identify new areas of interest on the 1,500 square-kilometre project.
Qualified Person
The technical contents of this news release have been reviewed and approved by Bruce Counts, P. Geo.,
President, CEO and a Director of Lithoquest Diamonds Inc. and Qualified Person under National
Instrument 43-101.
About Lithoquest Diamonds Inc.
Lithoquest is a Canadian diamond exploration company focused on the discovery and development of
economic diamond deposits on its 100% owned North Kimberley Diamond Project located in Western
Australia, approximately 65 km east of the community of Kalumburu. The 100% owned land package
covers 1,500 km2 and is accessible by tidewater and a seasonal road. Lithoquest is led by experienced
management with a history of success in diamond exploration and development. During its first year in
operation, the Company rapidly advanced the NKDP in Western Australia through the discovery of
diamonds and kimberlite.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or
accuracy of this release.
FORWARD LOOKING INFORMATION
This news release includes certain information that may constitute “forward-looking information” under
applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, the
Company’s strategic plans, future operations, future work programs and objectives. Forward-looking
information is necessarily based upon a number of estimates and assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause
the actual results and future events to differ materially from those expressed or implied by such forward-
looking information. There can be no assurance that such information will prove to be accurate, as actual
results and future events could differ materially from those anticipated in such information. Accordingly,
readers should not place undue reliance on forward-looking information. All forward-looking information
contained in this press release is given as of the date hereof and is based upon the opinions and
estimates of management and information available to management as at the date hereof. The Company
disclaims any intention or obligation to update or revise any forward-looking information, whether as a
result of new information, future events or otherwise, except as required by law.
For further information, please contact:
Lithoquest Diamonds Inc.
+1 (778) 373-1485