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Margaret Lake Diamonds Reports Filing of Nickel-Cobalt Technical Reports for Old Nick and Letain Projects, British Columbia
VANCOUVER, BC / ACCESSWIRE / June 3, 2021 / Margaret Lake Diamonds Inc. ("MLD" or the "Compa...
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[{"type":"text","content":"Margaret Lake Diamonds Reports Filing of Nickel-Cobalt Technical Reports for Old Nick and Letain Projects, British ColumbiaVANCOUVER, BC / ACCESSWIRE / June 3, 2021 / Margaret Lake Diamonds Inc. (\"MLD\" or the \"Company\") (TSXV:DIA) (FKT:M85) (OTC PINK:DDIAF) is pleased to announce the TSXV has reviewed the technical reports of the Old Nick, Nickel-Cobalt (Old Nick) project in Southern British Columbia and the Letain, Nickel-Cobalt (Letain) project in North-Western British Columbia and has found them both to be NI 43-101 compliant. The approval on the acquisition of the properties has not yet been obtained. The completed report is available under the Company's profile on SEDAR at www.sedar.com.The Old Nick-Nickel Cobalt project The property is a quartzite-hosted stratabound nickel-cobalt deposit (with minor chromite). The mineralization is hosted by Paleozoic Anarchist Group fuchsite-bearing quartzites with disseminated pentlandite/pyrrhotite. The deposit has been defined by 51 drill holes totalling 4,417 meters and 19 trenches totalling 1,533 meters. Laterally, the zones extend for at least 500 meters along strike. Bench scale column leach testing in 1995-1996 and 2004-2005 indicated the potential for economic recovery of nickel and cobalt by acid heap leaching and Solvent Extraction/Electrowinning processes. There is significant potential to expand the deposit both along strike and down the dip of the known mineralization as well as within the same prospective stratigraphy elsewhere on the property. Makepeace (2007) defined an historic Inferred Mineral Resource estimate of 17.24 million tonnes at a grade of 0.1914 %Ni and 0.0095 %Co, with a nickel cut off grade of 0.14 %Ni. This estimate is not current and not to be relied upon.In 1971, a MSc. thesis on the Old Nick deposit outlined 2 generations of pentlandite occurring interstitially within the pyrrhotite. Elevated nickel values are associated with mariposite bands. The dunite and quartzite had similar Ni/Cr values suggesting a common source of metal mineralization. Chromium occurs in mariposite. From 1995-1998 Applied Mine Technologies Ltd. (AMT) completed 6 diamond drill holes into the deposit. Part of the resultant core was used for their bench scale and column leach testing of the Old Nick mineralization. The metallurgical tests indicated that acid heap leaching and se...