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High-Grade Awaruite Obtained During Site Visit to Letain Along 1 km X 1.3 km Known Nickel-Cobalt Mineralization Zone
VANCOUVER, BC / ACCESSWIRE / July 14, 2021 / Margaret Lake Diamonds Inc. ("MLD" or the "Comp...
About this update from Vault Strategic Mining Corp.
[{"type":"text","content":"High-Grade Awaruite Obtained During Site Visit to Letain Along 1 km X 1.3 km Known Nickel-Cobalt Mineralization ZoneVANCOUVER, BC / ACCESSWIRE / July 14, 2021 / Margaret Lake Diamonds Inc. (\"MLD\" or the \"Company\") (TSXV:DIA) (FKT:M85) is pleased to announce samples taken revealed a high concentration of coarse grain awaruite and management is having 10 x 5 kilogram rock chip samples tested by SGS Canada using \"Davis Tube\" (magnetic separation to obtain % magnetics) and assay on the concentrate product and tailings for Fe, Ni, S, Cr, Co as well as Rapid Mineralogical Scan on one composite sample. A report has recently been filed in compliance with National Instrument 43-101; the completed report is available under the Company's profile on SEDAR at www.sedar.com.Figure 1 - Site visit to focus on 1km x 1.3km area of known Nickel-Cobalt mineralizationThe Letain Property has similar geology and awaruite mineralization (fine and coarse grain texture) that is comparable to First Point Minerals Decar Property located in central BC. Decar contains an indicated resource of 1.99 billion tonnes at 0.122% magnetically recovered nickel, and inferred resource of 0.59 billion tonnes at 0.114% magnetically recovered nickel (updated mineral resource estimate by GeoSim Services Inc. September 9, 2020, FPX website). The high magnetic susceptibility and high density (specific gravity 8.2) makes awaruite amenable to magnetic and gravity separation. Margaret Lake Diamonds made a recent site visit to Letain by Qualified Person Jo Shearer (M.Sc., P.Geo.). Samples were taken in the area where previous sampling revealed a high concentration of coarse grained awaruite, [and management is having 10 x 5 kilogram rock chip samples tested by SGS Canada using \"Davis Tube\" (magnetic separation to obtain % magnetics) and assay on the concentrate product and tailings for Fe, Ni, S, Cr, Co as well as Rapid Mineralogical Scan on one composite sample]. This test will provide suitable information to assess preliminary metallurgy and contingent on results of SGS Davis Tube tests, further metallurgy may be planned for a larger sample, as well as preparing application for MX permits in order to drill test the awaruite bearing mineralization.The Letain Property is located within the Cassiar Mountains approximately 70 kilometers ESE of Dease Lake in northern BC. Th...