Mountain Province Provides Exploration Updates at Gahcho Kué and Kennady North

TSX: MPVD

TORONTO and NEW YORK, June 18, 2020 /CNW/ - Mountain Province Diamonds Inc. ("Mountain Province", the "Company") (TSX: MPVD) today announces an update of its exploration programs for the Gahcho Kué Joint Venture, and for the Company's 100%-held Kennady North Project. The winter programs were planned to run from mid-February through May but were terminated in early April after declaration of the COVID-19 pandemic in March. Personnel for both programs reported no incidence of the virus during the winter operations, or during the 14-day self-quarantine period following completion of the programs. A summary of activities that were completed before termination of the winter programs is provided below.   

Gahcho Kué Joint Venture

The Gahcho Kué Joint Venture ('GKJV') covers 5,216 hectares of diamond prospective mineral leases, which includes the Gahcho Kué Mine. Mountain Province is a 49% partner in the GKJV with the De Beers Canada Inc. ('De Beers'), who are the operators of the mine and exploration activities on the GKJV leases. 

The winter drill program planned for 2,100 meters of exploration core drilling over an eight-week period, but the program was greatly reduced due to the COVID-19 pandemic. The program was designed around a joint review of historical data for the JV lease area. Indicator mineral, structural, magnetic, EM and gravity data were reviewed in August 2019 at a joint De Beers/Mountain Province workshop. Thirteen target areas were identified, with some targets subjected to follow-up ground gravity and OhmMapper resistivity surveys. A total of 116 line-km of ground gravity and 128 line-km of OhmMapper data were collected between October 2019 and February 2020. In a second workshop held in February 2020, eight of the 13 target areas were prioritized for drilling. A map showing the eight priority area locations relative to the Gahcho Kué Mine is provided below.

Only two targets (#8 and #12), located roughly four kilometers northeast of the mine, were drill-tested before the program was terminated. Two drillholes were completed on each of the targets for a program total of 549 meters, and no kimberlite was intersected. 

Vice President of Exploration for Mountain Province Tom McCandless comments, "We are fortunate to have De Beers as operator of exploration for the Joint Venture, and to have a proactive relationship with them as noted by our recently-held workshops. The discovery of the Wilson kimberlite in 2018 demonstrates the discovery potential of the Gahcho Kué Joint Venture, and although the abbreviated winter program did not discover kimberlite, positive results will inevitably come from our collaboration. We are prepared to restart our onsite exploration once the risks associated with the pandemic are abated."