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Margaret Lake Diamonds provides update on Letain Awaruite Nickel project
(TheNewswire) VANCOUVER, B.C. - TheNewswire - October 5 th 20...
About this update from Vault Strategic Mining Corp.
[{"type":"text","content":"Margaret Lake Diamonds provides update on Letain Awaruite Nickel project\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n VANCOUVER, B.C. -\n \n \n TheNewswire\n-\n \n \n October 5\n \n \n th\n \n \n 2021 -\n \n \n Margaret Lake Diamonds Inc. (\"MLD\" or\nthe \"Company\") (TSXV:DIA) (FKT:M85) (OTC:DDIAF) is pleased\nto provide an update on its\n \n \n Letain property\nlocated approximately 70km ESE of Dease Lake in northern B.C. within\nthe Cassiar Mountains.\n \n \n \n \n \n \n \n \n Click Image To View Full Size\n \n \n \n \n The Letain mineral claims feature-disseminated\nawaruite, a naturally occurring Ni-Fe alloy that is hosted in\nperidotite and minor dunite. Several peridotite-hosted zones contain\nfine and coarse Ni-Fe alloy grains. Surface sampling of rock chips\naverage approximately 0.25% nickel, exposed along a ridge ranging from\n1,700-2,050 meters. The Letain property covers part of the Cache Creek\nTerrain separated from the volcanic and sedimentary rocks of the\nQuesnellia Terrain by the Thibert fault to the north and the Kutcho\nFault to the west. The King Salmon Fault displaces the transition\nbetween the Cache Creek Terrain and the sediments and volcanics of\nStikinia Terrain. Geochemical analysis of rock chips returned values\nranging from 1700-3800 ppm Ni (Source: historic rock sampling of 144\nrock samples collected in 2011, assay method 1E/8FPX 4 acid digestion\nmethod, analysis by ICP-ES). SGS ran 10 samples for concentrate (I.e.,\nheavy mineral separation) and arrived at the percentage of magnetic\nfraction:\n \n \n \n \n \n \n \n \n Click Image To View Full Size\n \n \n \n \n Figure 1 – LET-1 (with low\nmagnetic content) was a black dyke and not representative of the\noverall lithology\n \n \n \n \n Awaruite mineralization occurs in 2 different habits:\nfine Ni-Fe alloys or larger composite grains. Fine awaruite grains\n(10-100 µm) are disseminated in the serpentine matrix. Ni-Fe alloys\nhave a highly reflective white/silver colour. Larger composite grains\n(100-300 µm) are a mixture of Ni-Fe alloys and lesser Ni-Fe sulphides\nthe area is underlain by a highly differentiated peridotite with\nnumerous porphyritic, sheared and vein-veinlet-breccia textures. In\nthe south portion of the property, the peridotite is characterized by\ndisseminated magnetite and chromite abundant disseminated a...