DIAMOND STUDY: Gahcho Ku estimate grows to 60M carats

NORTHWEST TERRITORIES — De Beers Canada (51%) and Mountain Province Diamonds (49%) have updated the 43-101 resource study for their Gahco Kué project, estimating that it contains 50.5 million ct in indicated resources and another 10.3 million ct in inferred material. The report was prepared by AMEC Americas.

Three pipes were tested, and the 5034 found to contain the most carats, 25.1 million in both resource categories. The Tuzo pipe contains an estimated 21.0 million ct, and the Hearne pipe 14.8 million ct.

The new resource estimate marks a project milestone, commented Mountain Province president and CEO Patrick Evans. "In the report, AMEC confirms that the scientific and technical data on the Gahcho Kué project is now of sufficient quality and level of detail to support a feasibility study, which is currently under consideration by the joint venture partners."

The Gahcho Kué property was staked by Mountain Province in the early 1990s. Project details and news are available at www.MountainProvince.com.