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Margaret Lake Diamonds Reports Spring Exploration Program Results for Margaret Lake and Diagras Properties, Northwest Territories, Canada
VANCOUVER, BC / ACCESSWIRE / July 30, 2018 / Margaret Lake Diamonds Inc. (TSX.V: DIA / FSE: M...
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[{"type":"text","content":"Margaret Lake Diamonds Reports Spring Exploration Program Results for Margaret Lake and Diagras Properties, Northwest Territories, CanadaVANCOUVER, BC / ACCESSWIRE / July 30, 2018 / Margaret Lake Diamonds Inc. (TSX.V: DIA / FSE: M85) (\"Margaret Lake\" or the \"Company\") reports the outcome of its 2018 spring exploration programs at its 60% owned Diagras property (\"Diagras\") and 100% owned Margaret Lake Property (the \"Property\") in the Northwest Territories.Both projects were funded in part by significant grants from the Government of the Northwest Territories (GNWT) Mining Incentive Program (MIP). The Company would like to thank the GNWT for their support and recognition of the potential for these quality exploration programs.Diagras ProjectExploration at Diagras consisted of Gravity, Magnetic and Electromagnetic (EM) ground surveys focused around historically identified kimberlites as well as other airborne geophysical anomalies with kimberlite like signatures.This groundwork is designed to develop targets for a spring 2019 drill program. Diagras is a contributing Joint Venture (the \"Joint Venture\") between Margaret Lake, which acts as project operator and holds a 60% interest, and Arctic Star Exploration Corp. (TSX.V: ADD) which holds a 40% interest. Diagras is located in the prolific Lac de Gras diamond field just 35 kilometers from the world-class Diavik diamond mine. The Property lies directly on trend with the Diavik deposits currently being mined by a joint venture between Rio Tinto and Dominion Diamond Diavik. The Diagras land package consists of 18,699 contiguous hectares of mineral claims containing 12 previously identified kimberlites. Field work was completed by Aurora Geosciences Ltd. (AGL) and Initial Exploration Services Inc. (IES) between May 27 and June 6, 2018. The surveys targeted kimberlite intrusions and were designed to investigate areas proximal to known kimberlites as well as explore new target areas. Warm temperatures during the time of the surveys caused a rapid snow melt and flooding of the ice covered lakes. The conditions forced a premature end to the program leaving some of the planned target areas untested. This work is planned to be completed in 2019. A total of 133 gravity stations, 152 line kilometers of magnetics and 11.2 line kilometers of OhmMapper survey were completed. Drill Targets...