Final court approval received for Kennady North Spin-outKennady North drill program set to commenceGahcho Kué diamond prices increase marginallyShares Issued and Outstanding: 80,715,558TSX: MPVNYSE MKT: MDMTORONTO AND NEW YORK, May 28, 2012 /CNW/ - Mountain Province Diamonds Inc. ("Mountain Province", the "Company") (TSX: MPV, NYSE MKT: MDM) today announced that the Gahcho Kué Joint Venture partners, De Beers [...]
Shares Issued and Outstanding: 80,715,558 TSX: MPV NYSE- AMEX: MDM
TORONTO and NEW YORK, April 26, 2012 /CNW/ - Mountain Province Diamonds Inc. ('Mountain Province', the 'Company')
(NYSE-AMEX: MDM) is pleased to announce that its shareholders have voted 99.5% in favour of the proposed spin-out of Kennady Diamonds Inc. ('Kennady Diamonds') at a special meeting of shareholders held [...]
Shares Issued and Outstanding: 80,715,558 TSX: MPV NYSE- AMEX: MDM
TORONTO AND NEW YORK, April 12, 2012 /CNW/ - Mountain Province Diamonds Inc. ('Mountain Province', the 'Company')
today announced the final results of the Tuzo Deep drill program, which is designed to define a resource below the current Resource (from surface to 350 meters) of the Tuzo kimberlite pipe. The Tuzo Deep drill program targeted the depth [...]
Mountain Province Diamonds today announced that it has received an interim order of the Supreme Court of Ontario with respect to its previously announced plan of arrangement, pursuant to which the Company will transfer the Kennady North property to Kennady Diamonds. On March 13, 2012, Mountain Province announced the Arrangement. Upon completion of the transfer of the Kennady North property and working capital in the [...]
Mountain Province is pleased to announce further details on the proposed spin-out of the Company's 100 percent-controlled Kennady North diamond project into a newly-incorporated company Kennady Diamonds. The proposed spin-out will occur through a plan of arrangement and will be subject to regulatory and court approval, as well as shareholder approval at a special meeting currently planned for April 25, 2012. The Company [...]
Standard & Poor's Canadian Index Operations announces the following index changes as a result of the Quarterly S&P/TSX Composite Index Review. These changes will be effective at the open on Monday, March 19, 2012:
Mountain Province Diamonds is pleased to provide the following update on progress at the Gahcho Kué diamond project, a joint venture with De Beers Canada in Canada's Northwest Territories. Permitting of the Gahcho Kué project is progressing satisfactorily. Following receipt on January 20, 2012, of information requests under the Environmental Impact Review, the Gahcho Kué project operator, De Beers, has advised that they [...]
Mountain Province Diamonds is pleased to announce that final analysis of the Fugro airborne gravity gradiometry (AGG) survey flown over the Kennady North diamond project late last year has resulted in the identification of 106 geophysical targets. Mountain Province is also pleased to announce that the Company will be commencing a 560 line-kilometre total magnetic field (MAG) ground survey this week over the geophysical [...]
Mountain Province is pleased to announce that its Board of Directors has approved a proposal to spin-out the Company's 100 percent-controlled Kennady North diamond project into a newly incorporated company, Kennady Diamonds. Patrick Evans, President and CEO, commented: "The proposed spin-out of Kennady North is intended to deliver greater value to Mountain Province shareholders by unlocking the value of this highly [...]
-- Gahcho Kué Environmental Review progressing well -- Falcon airborne gravity gradiometry survey completed -- Tuzo drilling on track for completion in Q1, 2012
Shares Issued and Outstanding: 80,345,558 TSX: MPV NYSE- AMEX: MDM
TORONTO AND NEW YORK, Dec. 12, 2011 /CNW/ - Mountain Province Diamonds Inc. ('Mountain Province', the 'Company')
today announced that the first formal session of the [...]
Shares Issued and Outstanding: 80,345,558 TSX: MPV NYSE- AMEX: MDM
TORONTO AND NEW YORK, Oct. 24, 2011 /CNW/ - Mountain Province Diamonds Inc. ('Mountain Province', the 'Company')
today announced the successful completion of the airborne gravity survey over both the 49 percent controlled Gahcho Kué Joint Venture Project and the 100 percent controlled Kennady North Diamond Project.
The 3,991 line-kilometre survey was conducted by Fugro Airborne Surveys Corp. A total of 1,198 line-kilometres were flown over the Gahcho Kué Project and 2,793 line-kilometres were flown over the Kennady North Project.
Patrick Evans, President and CEO of Mountain Province, commented: 'The Fugro airborne gravity survey is the first property-wide airborne gravity survey to be conducted at Kennady Lake since the start of exploration, approximately 17 years ago. We are hopeful that additional kimberlites will be identified at both the Gahcho Kué Project and the Kennady North Diamond Project. Preliminary results from the airborne gravity survey are expected before the end of November, 2011'.
Mountain Province also announced that the Gahcho Kué JV with De Beers Canada Inc. ('De Beers') has decided to expand the previously announced five-hole Tuzo Deep drill program to six holes. Expanding the Tuzo Deep drill program to six holes improves the probability that an inferred mineral resource will be established below 350 metres, which is the current limit of the Tuzo mineral resource. As a result of the expansion of the Tuzo Deep drill program, the six-hole program is now expected to be completed by February 2012.
The first of the six planned Tuzo Deep drill holes has been completed, having intersected over 200 metres of kimberlite. This hole was drilled at an angle from land to the south of the Tuzo kimberlite. The hole is currently being surveyed to establish the precise kimberlite pierce points. The second rig is now on site to the north of the Tuzo kimberlite. Drilling of the second and third Tuzo Deep holes is expected to commence shortly.
Mountain Province is a 49% participant with De Beers Canada in the Gahcho Kué JV located at Kennady Lake in Canada's Northwest Territories. The Gahcho Kué Project consists of a cluster of four diamondiferous kimberlites, three of which have a probable mineral reserve of 31.3 million tonnes grading 1.57 carats per tonne for total diamond content of 49 million carats.
Gahcho Kué is the world's largest and highest grade diamond development project. A December 1, 2010 feasibility study filed by Mountain Province (available on SEDAR) indicates that the Gahcho Kué project has an IRR of 33.9% (after taxes and royalties, unleveraged).
Mountain Province also controls 100% of the Kennady North Diamond Project adjacent to the De Beers JV property. Kennady North hosts three known diamondiferous kimberlites and a number of unexplained kimberlite mineral indicators.
Mountain Province Diamonds is included in the S&P/TSX Global Mining Index.
Qualified Person This news release has been prepared under the supervision of Carl G. Verley, P.Geo., who serves as the qualified person under National Instrument 43-101.
Forward-Looking Statements This news release may contain forward-looking statements, within the meaning of the 'safe-harbor' provision of the Private Securities Litigation Reform Act of 1995, regarding the Company's business or financial condition. Actual results could differ materially from those described in this news release as a result of numerous factors, some of which are outside the control of the Company.
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