Lithoquest Discovers Two New Kimberlites on the North Kimberley Diamond Project
NEWS RELEASE
October 21, 2019
TSX-V: LDI
Lithoquest Discovers Two New Kimberlites on the North Kimberley Diamond Project
VANCOUVER, B.C., October 21, 2019 – Lithoquest Diamonds Inc. (TSX-V: LDI) (“Lithoquest”, or the “Company”) today
announced that kimberlite was intersected at drill targets 1805 and 1826 during the recently completed drill program on its
100% owned North Kimberley Diamond Project (“NKDP” or the “Property” or the “Project”) in Western Australia.
2019 Drill Program Highlights
• Two new kimberlites discovered - Potential for significant tonnage.
• Increasing evidence of a new diamond-bearing kimberlite field on the Company’s property.
• Increase in the size of Kimberlite 1804 (discovered in 2018).
“These new discoveries reinforce the diamond potential of the North Kimberley Diamond Project and validate the technical
team’s approach to exploration. Kimberlite 1805 is particularly exciting given the extent of the anomaly and potential for a
significant volume of material ,” says Bruce Counts, President and CEO of Lithoquest. “ We are well positioned to continue
advancing the project and look forward to providing diamond results to the market in the coming weeks.”
Drilling Summary
A total of 928 m of drilling was completed in 11 reverse circulation holes on targets 1805, 1826 and 1827 during the 2019
drill program (Figure 1). Kimberlite was intersected at targets 1805 and 1826. No kimberlite was intersected at target 1827;
however, work was suspended after completing one hole due to time constraints. Target 182 7 remains prospective and
additional work is planned for 2020. Drilling was also conducted on the 1804 kimberlite discovered in 2018.
Figure 1: 2019 Kimberlite discoveries
Results from the program are summarized in the table below:
Table 1: 2019 RC Drill Hole Summary
Drill Hole Target Easting Northing
Azimuth
(degrees)
Inclination
(degrees)
End of Hole
(metres)
Kimberlite
(metres)
From To
RC19-01 1804 300947 8443597 358 -61 189.5 132 185
RC19-02 1805 299252 8443719 184 -60 88 57 58
73 74
RC19-03 1805 299535 8443736 180 -60 28 10 13
RC19-04 1805 299547 8443748 178 -59 49 32 43
RC19-05 1805 299547 8443748 177 -50 40 26 37
RC19-06 1805 298878 8443674 180 -50 88 49 52
RC19-07 1826 296885 8446750 115 -50 94 41 44
RC19-08 1826 296889 8446752 48 -48 94
RC19-09 1826 296762 8446790 6 -49 64
RC19-10 1826 296791 8446703 163 -50 70
RC19-11 1827 306274 8448050 198 -58 124
Target 1805
Target 1805 (Figure 2) is a 1.7 km long linear feature defined by the presence of kimberlite indicator minerals including
diamonds, topographic lows as well as gravity and magnetic anomalies. 1805 was drill tested with 5 holes in three locations
over approximately 700 m.
Figure 2: Kimberlites 1804 and 1805
Kimberlite was intersected in all five holes with the widest intersection encountered in drill hole RC19-04 between 32 m and
43 m. RC19-04 was drilled at an inclination of -60 degrees. Kimberlite intersections from a second hole, RC19 -05, drilled
from the same location indicate that the body is vertical and has a true width of approximately 5 m.
The eastern end of Target 1805 is located approximately 1 km from kimberlite 1804 which is associated with a similar linear
feature. Data suggests that the t wo features may be part of a system that is continuous over 3.1 k ms. Further work will be
required to establish whether the two occurrences are related.
Target 1826
A total of 4 holes were drilled at target 1826 (Figure 3). Kimberlite was intersected over a 3 m interval between 41 m and
44 m in drill hole RC19 -07. RC19-07 was inclined at -50 degrees and targeted coincident gravity and magnetic anomalies
at the head of well constrained indicator dispersion. No kimberlite was intersected in the other three holes.
Figure 3: Kimberlite 1826
Kimberlite 1804
One hole was drilled at kimberlite 1804 (Figure 2) with the goals of:
• Obtaining a better understanding of body geometry and size.
• Testing for additional lithologic units or phases.
• Gaining a better understanding of how the observed geophysical signature relates to the body.
Drill hole RC19-01 intersected 53 m of kimberlite from a depth of 132 m to 185 m. The hole was drilled at an inclination of -
50 degrees towards the north. A reinterpretation of the geophysical signature suggests that the dimensions of the 1804
kimberlite are 40 m by 125 m. Geochemical testing and indicator work will be completed to determine if new kimberlitic units
were intersected.
Kimberlite Analysis and Diamond Testing
Drill cuttings representing one metre intervals were logged and tested with a portable XRF instrument on site to determine
the lithologies intersected. Drill cuttings were collected in sample bags and sealed for transport. Samples will be submitted
to Australian laboratories for geochemical analysis , indicator mineral recovery , and diamond testing . Diamond Recovery
Services based in Perth, Australia will undertake the indicator and diamond processing. Diamond results are exp ected
before the end of the year.
Technical Leadership
The Phase II field program and laboratory work have been overseen by Mr. Dave Skelton P.Geol. and Mr. Tom Reddicliffe
FAusIMM. Mr. Skelton has more than 25 years of diamond exploration experience and was involved in the discovery of
several kimberlite fields including the Buffalo Head Hills cluster. Mr. Reddicliffe has more than 40 years of diamond
exploration experience in Australia and is credited with the discovery of the Merlin Diamond Mine. The field team is further
supported by Ms. Gina Rockett, a senior exploration consultant with more than 25 years of experience who recently served
as Senior Exploration Geologist at Merlin Diamond Mines.
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 diam ond
deposits on its 100% owned North Kimberley Diamond Project located in Western Australia, approximately 65km east of
the community of Kalumburu. The 100% owned land package covers 1,500 sq -km and is accessible by tidewater and a
seasonal road. Lithoques t 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 constitute s “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 , data analysis 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 e vents 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 inform ation, future events or otherwise, except as
required by law.
For further information, please contact:
Lithoquest Diamonds Inc.
+1 (778) 373-1485