Lithoquest Diamonds provides update on it's North Kimberley Diamond Project
Lithoquest Diamonds Inc. (TSX-V: LDI) (“Lithoquest”, or the “Company”) today announced that it has commenced the 2019 field program on its 100% owned North Kimberley Diamond Project in Western Australia.
“The Company is well positioned to discover diamond bearing kimberlites on the North Kimberley Diamond Project in 2019″, stated Bruce Counts, President and CEO of Lithoquest Diamonds Inc. “A highly qualified technical team has now been deployed to evaluate over 20 priority targets in advance of a drill program scheduled for later this season. Data obtained from the 2018 program, highlighted by the 1804 kimberlite discovery and positive diamond results from bedrock and stream samples, have been critical in defining the areas of focus for this year’s program.”
The 2019 field program will be conducted in two phases. The first phase will concentrate on assessing prospective areas identified by the Company with the objective of selecting and prioritizing targets for drill testing (see news release dated April 30th, 2019). The priority areas are illustrated by the image of Target 1827 below and by images on the Company’s website: www.lithoquest.com/project/. Exploration activities during this period will include geological mapping, prospecting, ground geophysical surveying and sampling for kimberlite indicator minerals.
Figure 1: Target Area 1827
The second phase of the field program will focus on testing the most prospective kimberlite targets using a reverse circulation drill. Phase two is expected to commence in late August. The budget for the 2019 program will vary depending on the amount of drilling conducted but is expected to total approximately $2.0 million.
The 2019 field program is being directed by Mr. Dave Skelton P.Geol. and Mr. Tom Reddicliffe FAusIMM. Mr. Skelton has more than 25 years of diamond exploration experience and was involved in the discovery of several kimberlite fields including the Buffalo Head Hills cluster. Mr. Reddicliffe has more than 40 years of diamond exploration experience in Australia and is credited with the discovery of the Merlin Diamond Mine.
The technical contents of this news release have been reviewed and approved by Bruce Counts, P. Geo., President, CEO and a Director of Lithoquest Diamonds Inc. and Qualified Person under National Instrument 43-101.
About Lithoquest Diamonds Inc.
Lithoquest is a Canadian diamond exploration company focused on the discovery and development of economic diamond deposits on its 100% owned North Kimberley Diamond Project located in Western Australia, approximately 65km east of the community of Kalumburu.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
This news release includes certain information that may constitute “forward-looking information” under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, the Company’s strategic plans, future operations, future work programs and objectives. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
For further information, please contact:
Lithoquest Diamonds Inc.
+1 (778) 373-1485