Mountain Province Diamonds’ Inferred Resource Now 18.5 Million Carats

Mountain Province Diamonds Inc. (TSX:MPV,NYSEMKT:MDM) provided the results of an updated mineral resource estimate for its Northwest Territories-based Gahcho Kué diamond project. The diamond content of its indicated resource has increased 12 percent, to 56.6 million carats, while that of its inferred resource has increased by 80 percent, to 18.5 million carats.

Patrick Evans, CEO of Mountain Province, commented:

The updated Tuzo Deep resource estimate indicates an approximate 12% percent increase in the Gahcho Kué indicated resource from 30.2 million tonnes to 33.8 million tonnes and an approximate 90% increase in inferred resource from 6 million tonnes to 11.3 million tonnes. The diamond content of the indicated resource increased by approximately 12% from 50.5 million carats to 56.6 million carats and the diamond content of the inferred resource increased by approximately 80% from 10.3 million carats to 18.5 million carats. The reasons for these increases are the upgrading of the 300 to 360 meter zone in Tuzo from inferred resource to indicated resource and also the inclusion of the newly defined Tuzo inferred resource from a depth of 360 meters to 564 meters below surface, which was delineated during the 2011/12 Tuzo Deep drill program.

Click here to read the full Mountain Province Diamonds Inc. (TSX:MPV,NYSEMKT:MDM) press release.