Industria
MOUNTAIN PROVINCE DIAMONDS ANNOUNCES UPDATED LIFE OF MINE PLAN AND UPDATED MINERAL RESOURCE AND RESERVE ESTIMATE
In accordance with National Instrument 43-101 – ("NI 43-101"), a supporting technical report effective April 22, 2024 will be filed within 45 days of this news release (the "2024 Technical Report"). The 2024 Technical Report will supersede the technical report entitled "NI 43-101 Technical Report Gahcho Kué Mine Northwest Territories Canada" having an effective date of December 31, 2021 and a report date of March 28, 2022 (the "2022 Technical Report").
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Updated geotechnical pit slope recommendations since the 2022 Technical Report allowed the various pits to be redesigned with steeper walls allowing additional kimberlite to be captured within the pits and an updated LOM plan. The updated LOM plan extends production through 2031 and reflects an increase of 2.7 Mt at 2.0 c/t (5.5 Mcts), relative to the prior LOM plan.
There have been three block model updates for the Gahcho Kué Mine since the 2022 Technical Report, each of which have increased the overall volume of the ore bodies. The interpretation of the external kimberlite contacts was updated based on mining data including blast holes logs and face mapping contact pickups. This information allowed projection/interpretation of changes to 3-4 benches below the current mining benches, providing a more probable view of kimberlite volumes to be mined in the short term. In addition, several drillholes from the Resource Extension Program were included in the update to Hearne and the surrounding country rock models.
The mineral reserves for the Gahcho Kué Mine were updated with the new mine plan and updated mineral resource estimate and have an effective date of April 22 , 2024.
(6) CIM definitions were followed for Mineral Reserves.
(7) Tonnages are rounded to the nearest 100,000 t, diamond grades are rounded to one decimal place to properly reflect the Reserve estimate accuracy.
(8) Tonnage and grade measurements are in metric units; contained diamonds are reported as millions of carats.
(9) MPD's attributable portion of mineral reserves is 49%.
The Mineral Resource and Mineral Reserve estimates for the Gahcho Kué Mine and the other scientific and technical information contained in this news release was prepared by Tysen Hantelmann and Mike Makarenko , each a Qualified Persons (" "), as defined in NI 43-101 and independent of the Company. Data verification processes undertaken in the previous Technical Reports have been reviewed. The QPs are of the opinion that the data verification is adequate for use in the 2024 Technical Report.
The 2024 Technical Report will be filed under the Company's profile on SEDAR+ at www.sedarplus.ca within 45 days of this news release. Readers are encouraged to read the 2024 Technical Report in its entirety, including all qualifications, assumptions, exclusions and risks that relate to the Mineral Resource, Mineral Reserves and LOM. The 2024 Technical Report is intended to be read as a whole, and sections should be read or relied upon out of context.
is a 49% participant with De Beers Canada Inc. in the Gahcho Kué diamond mine located in Canada's Northwest Territories. The Gahcho Kué Joint Venture property consists of several kimberlites that are actively being mined, developed, and explored for future development. The Company also controls approximately 112,000 hectares of mineral claims and leases surrounding the Gahcho Kué Mine that include an Indicated mineral resource for the Kelvin kimberlite and Inferred mineral resources for the Faraday kimberlites.
FOR FURTHER INFORMATION, PLEASE CONTACT: Mark Wall , President, and CEO, 151 Yonge Street, Suite 1100, Toronto, Ontario M5C 2W7, Phone: (416) 361-3562, E-mail: info@mountainprovince.com
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