DIAMOND EXPLORATION NEWS – $25 Million Earmarked for Gahcho Ku

LAC DE GRAS, Northwest Territories The Gahcho Ku project (a.k.a. Kennady Lake) will get a $25-million going-over by DE BEERS CANADA. The investigation will include engineering, geotechnical, resource, and environmental studies. Site work will focus on firming up mine plans as well as waste and water management.

If the project proceeds toward mine development, De Beers expects that permitting and stakeholder consultation will take another two or three years. Another three years is anticipated for mine and plant construction.

Gahcho Ku is jointly owned by De Beers (51%), MOUNTAIN PROVINCE DIAMONDS (44%) and CAMPHOR VENTURES (4.9%). The property hosts eight diamondiferous kimberlites and several sills and dykes. It is located about 300 km northeast of Yellowknife. See www.debeerscanada.com for additional information.