Mountain Province Diamonds Reports Year End 2017 Statement

- March 27th, 2018

Mountain Province Diamonds Inc. announced the company’s year end 2017 statement of estimated mineral reserves and mineral resources.

Mountain Province Diamonds Inc. (TSX:MPVD) announced the company’s year end 2017 statement of estimated mineral reserves and mineral resources.

As quoted in the press release:

Total estimated probable mineral reserves for the Gahcho Kué diamond mine at December 31, 2017 are summarized in the following table.

Mineral Reserve Estimate (December 31, 2017)
Pipe Classification Tonnes (Mt) Carats (Mct) Grade (cpt)
5034 Probable 9.7 18.4 1.91
Hearne Probable 5.5 10.9 1.99
Tuzo Probable 15.7 19.1 1.22
In-Situ Total Probable 30.9 48.4 1.57
Stockpile Probable 0.6 1.0 1.61
Total Probable 31.5 49.4 1.57

Mineral reserves are reported at a bottom cut-off of 1.0 mm

  1. Mineral reserves have been depleted to account for mining and processing activity prior to Dec 31 2017.
  2. Q4 2017 depletion is based on forecasted values and may differ slightly from actual depletion.
  3. Mineral reserves are based upon the updated resource model (2017) and therefore reflect any changes to the estimation of tonnes, grade and contained carats within that resource. Details on resource changes are summarized in Section 14.
  4. Prices used to determine optimal pit shells have been escalated by factors varying by pit, which are indicative of the respective pits timing and duration.

Total estimated mineral resources for the Gahcho Kué diamond mine at December 31, 2017, exclusive of estimated mineral reserves, are summarized in the following table.

Mineral Resource Estimate (December 31, 2017)
Resource Classification Tonnes (Mt) Carats (Mct) Grade (cpt)
5034 Indicated 0.9 1.5 1.61
Inferred 0.8 1.3 1.63
Hearne Indicated 0.2 0.3 1.68
Inferred 1.2 2.1 1.75
Tuzo Indicated 0.8 0.9 1.14
Inferred 10.8 14.6 1.35
Summary (In-Situ) Indicated 1.8 2.6 1.42
Inferred 12.8 18.0 1.40
Stockpiles Indicated 0.0 0.0 0
Inferred 0.0 0.0 1.15(3)

Notes to The Mineral Resource Statement:   

  1. Mineral resources are reported at a bottom cut-off of 1.0 mm. Incidental diamonds are not incorporated in grade calculations.
  2. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
  3. Volume, tonnes and carats are rounded to the nearest million. 12,300t of inferred resources stockpiled @ 115cpht (14,250cts total).
  4. Tuzo volume and tonnes exclude 0.6 Mt of a granite raft and CRX_BX.
  5. Resources are exclusive of indicated tonnages converted to probable reserves.
  6. Resources have been depleted of any material that was processed prior to and including Dec 31 2017. Q4 2017depletion is based on forecasted values and may differ slightly from actual values.

 

Click here to read the full Mountain Province Diamonds Inc. (TSX:MPVD) press release.

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