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Margaret Lake Diamonds Announces Exploration for Margaret Lake and Diagras Properties, Northwest Territories
VANCOUVER, BRITISH COLUMBIA / ACCESSWIRE / March 12, 2018 / Margaret Lake Diamonds Inc. (TSX...
About this update from Vault Strategic Mining Corp.
[{"type":"text","content":"Margaret Lake Diamonds Announces Exploration for Margaret Lake and Diagras Properties, Northwest Territories\nVANCOUVER, BRITISH COLUMBIA / ACCESSWIRE / March 12, 2018 / Margaret Lake Diamonds Inc. (TSX-V: DIA) (FSE: M85) (\"Margaret Lake\" or the \"Company\") is pleased to provide an exploration update on its Margaret Lake and Diagras properties located in the Northwest Territories.\nMargaret Lake Property\nThe Company is pleased to report it has generated three high priority drill ready targets at its Margaret Lake Property (the \"Property\") from the ground geophysical program undertaken in 2017. Additionally, there is one other target from previous groundwork on the Property and two others targets from 2017 geophysics under consideration for possible drill testing. Preparations are now underway planning a drill program. The Company has already obtained regulatory approval to proceed with a drill program on the Property.\nFigure 1. Margaret Lake Diamond Property Map and Drill Targets\n \nIn the Spring of 2017, the Company completed a series of ground gravity and OhmMapper™ (ground electromagnetics) surveys over nine targets previously generated from a HeliFalcon™ airborne gravity gradiometer survey. Physical bathymetric surveys complemented the ground gravity surveys to allow for consideration of water column in data processing.\nThree of the anomalies display a gravity low, bedrock conductor, or a combination of both, while a fourth anomaly has been identified from historic groundwork, which also displays coincident gravity and electromagnetic responses. These anomalies exhibit characteristics interpreted as having the potential to represent diamondiferous kimberlite bodies.\nThe Margaret Lake Property comprises 23 mineral claims totaling 23,199 hectares contiguous to the north and west of Kennady Diamonds Inc.'s Kelvin and Faraday projects. Kennady was successful in using similar ground gravity and OhmMapper™ surveys to reveal extensions to these kimberlites not displayed in magnetic surveys.\nThe Company holds a 100% interest in Margaret Lake and the Property is not subject to any underlying royalties. It is located 300 kilometers east-northeast of Yellowknife in the district of Mackenzie, Northwest Territories and just nine kilometers north of Canada's newest diamond mine, Gahcho Kué, a De Beers/...