Published: April 5, 2019 |
[Click image to enlarge]
Margaret Lake Diamonds has received approval for a land use permit (LUP) valid until April 2024 at its Kiyuk Lake Gold Property. Additionally, the company has completed a detailed ground geophysical survey. Interpretation of the data is underway and results will be reported shortly. The survey will be used to identify structures in bedrock that correlate with known zones of gold mineralization revealed in past drilling and also help finalize the planned 5,000 meter diamond drill program, which will focus on expanding high-grade Rusty zone along strike and to depth as well as testing other high priority drill targets.
About the Kiyuk Lake Gold Property
The Kiyuk Lake land package consists of 70 contiguous mineral claims encompassing over 59,000 hectares and offers year-round accessibility to a 35-person base camp. Significant past exploration, beginning with Newmont Mining in 2008 and most recently Cache Exploration in 2017, has resulted in over 13,000 meters of core drilling and delineation of four mineralized zones and five additional high priority target areas that have yet to be drill tested. Mineralization has been traced across a 13-kilometer strike length and remain open in all directions. The main focus of exploration to date has been on the high-grade Rusty zone.
About Margaret Lake Diamonds
Margaret Lake Diamonds Inc. is a Canadian junior mining company focused on mineral exploration in Canada’s most prolific mining districts. The company is earning an 80 percent interest in the high-grade Kiyuk Lake Gold Property located in southern Nunavut and also holds interests in two diamond exploration properties in the Northwest Territories- the Margaret Lake project located adjacent to Mountain Province Diamond’s Kennady North project and close proximity to Gahcho Kué, the newest Canadian diamond mine owned by De Beers and Mountain Province Diamonds. The company also has a 60/40 joint venture with Arctic Star Exploration Corp. to explore the Diagras property, which is comprised of 23 claims totaling 18,699 hectares located in the prolific Lac de Gras diamond field.
To stop by Margaret Lake Diamonds’ website, CLICK HERE
Be in-the-know when you’re on-the-go!
FREE eNews delivery service to your email twice-weekly. With a focus on lead-driven news, our news service will help you develop new business contacts on an on-going basis.
CLICK HERE to register your email address.
Copyright © 2019 Mining Connection LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
For licensing permission, .(JavaScript must be enabled to view this email address)
