Mountain Province Diamonds Updates Gahcho Kue Project
Mountain Province Diamonds Inc. (MPV.TO) announced that drilling of the new exploration targets at the Gahcho Kue project in the Northwest Territories, a joint venture with De Beers Canada, commenced this week.
Following completion of a ground gravity survey, the operator of the project has recommended ten targets for the first phase of the exploration drill program.
Drilling of the targets is expected to be completed by the end of April 2013. Based on the success of the first phase drill program, consideration will be given to testing additional targets that have been identified.
The company also announced that Mineral Services Canada has been retained to prepare an updated independent NI 43-101 resource statement for the Tuzo kimberlite, which will incorporate the results of the recently completed deep drilling program. The resource update is expected to be completed before the end of the current quarter.
MPV shares gained two cents to $4.68.