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The Diagras project is located at prolific diamond production district of
The results are given below in Table 1 along with the previous results for comparison.
Sequoia by Year | +0.106 mm | +0.150 mm | +0.212 mm | +0.3 mm | +0.425 mm | +0.6 mm | +0.85 mm | +1.18 mm | Weight | Stones/ 100 kg |
2022 | 608 | 255 | 78 | 35 | 17 | 7 | 2 | 1 | 1650.5 Kg | 61 |
2021 | 282 | 117 | 39 | 23 | 10 | 6 | 1 | 1 | 505.3 Kg | 95 |
Total | 890 | 372 | 117 | 58 | 27 | 13 | 3 | 2 | 2155.8 Kg | 69 |
Notes for Table 1:The Sequoia caustic fusion results were processed through SRC laboratories of
The results are from the 6 holes completed into Sequoia in spring 2022, 5 of which encountered kimberlite. The holes are part of a delineation drilling program designed to define the size, shape, geology, and tonnage of the Sequoia Kimberlite complex. In this program, three holes are drilled from one collar, with the collars being spread approximately 200m apart, with scope to infill up to 100m centers. At each collar a vertical hole is drilled to the assumed center of the kimberlite, this will continue to 250m depth or when it exits the kimberlite. The rig is then tilted and spun, to drill an inclined hole to the east and then a hole to the west. These holes are designed to capture the edge of the kimberlite. Further drilling planned for 2023 is required to complete this first past delineation program. The geophysical signature of the complex is at least 800m long and the holes reported here are from the southern 200m.
Remarkable is the consistent descriptions of the stones being overwhelmingly clear and white from the SRC lab and this continues with the 2022 results. Photographs of the >0.3mm stones have been provided and can be viewed on JV partner Artic Star’s website atwww.arcticstar.ca.
If this trend continues into the larger commercial stones, it bodes well for a higher-than-average prices for the Sequoia diamonds. Average prices of commercial diamonds in the Lac De Gras field are highly variable (From
The geological observations from each hole report three main rock types, a Coherent Kimberlite, a Volcaniclastic kimberlite, and a transitional kimberlite between these two types, a review of the diamond tenure of each rock type and their distribution is underway and will be reported when completed.
Planning and budgeting are underway for the 2023 program at
Figure 1
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Figure 1: Size Frequency Graph: Stone size in carats versus Stones per tonne. Green line, Sequoia 2021 results, Red line Sequoia total combined results. Red curve to the left, is for guidance a 1ct/t grade curve with average gradient. Note that it appears the lower gradient Sequoia curves will converge on this line at large stone sizes.
About
MLD is a Canadian based mineral exploration company. As part of its joint venture with Arctic Star Exploration, MLD holds an 18.5 per cent interest in the Diagras diamond project
Qualified Person
The Qualified Person for this news release is
On behalf of the Board
"Yari Nieken"
President, Chief Executive Officer, Chairman
Tel: 604.328.0425 | Email: ynieken@gmail.com
Neither the
Disclaimer for Forward-Looking Information
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, statements regarding the use of proceeds, TSXV final approval, and the exploration potential of the Diagras project based on historical drill results and forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
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