NORTHWEST TERRITORIES – Operator Mountain Province Diamonds of Toronto has posted an updated resource estimate for the Gahcho Kué diamond project that it shares with De Beers Canada. The 5034, Hearne and Tuzo pipes contain a total of 33.8 million tonnes at a grade of 167 cpht or 56.6 million ct. That is a 12% jump over the 2009 number of 50.5 million ct.
The inferred resource is now estimated to contain 18.5 million ct, an 80% increase from the 10.3 million ct of four years ago. Expressed differently, that is 11.3 million tonnes grading 164 cpht.
Patrick Evans, Mountain Province president and CEO said, "All the Gahcho Kué kimberlites remain open to depth and Mountain Province is in active discussions with De Beers to evaluate a follow-up Tuzo Deep drill program to test the further depth extension of the Tuzo kimberlite between 564 meters and 750 meters."
The full NI 43-101 report for Tuzo Deep will be published on SEDAR and on the company's website, MountainProvince.com, as soon as it becomes available.
The Gahcho Kue joint venture recently signed a socio-economic agreement with the government of the Northwest Territories. It formalizes employment, training, business opportunities commitments and other related benefits for NWT residents. It also establishes measures to monitor possible socio-economic impacts related to the proposed mine and establishes the mechanism to work with communities close to the mine site to ensure an adaptive management approach to socio-economic performance of the mine.