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Gold/Mining/Energy : MPVIF Mountain Province Mining -- Ignore unavailable to you. Want to Upgrade?

To: Natedog who wrote (2508)	3/19/2003 8:34:45 PM
From: Tommy Moore	Read Replies (1) \| Respond to of 2577

News/ Comments anyone Mountain Province energized by Faraday results Mountain Province Diamonds Inc MPV Shares issued 50,272,170 Mar 19 close $1.93 Wed 19 Mar 2003 News Release Mr. Jan Vandersande reports MOUNTAIN PROVINCE DIAMONDS INC. PROVIDES AN EXPLORATION UPDATE ON DRILLING NEAR THE FARADAY KIMBERLITE BODY Mountain Province Diamonds has been informed by its joint venture partner, De Beers Canada Exploration Inc. (De Beers Canada), a wholly owned subsidiary of De Beers Consolidated Mines Limited (De Beers), that exploration drilling of two holes south of the Faraday kimberlite body has been completed. Both holes intersected kimberlite with horizonatal projections of 5.6 metres and 21.5 metres, respectively. These kimberlite intersections are encouragingly thick. The Faraday kimberlite body is located in the joint venture's AK leased claims situated in the Northwest Territories of Canada. It is approximately 12 kilometres northeast of Kennady Lake, which contains the Hearne, Tuzo and 5034 diamondiferous kimberlite pipes. The Faraday kimberlite body was discovered in the spring of 1999. It is located approximately 12 kilometres northeast of Kennady Lake, and three kilometres north-northeast of the Kelvin kimberlite body. Three drill holes into the Faraday body in 1999 intersected kimberlite with intersections of nine metres, 15.5 metres and 23.1 metres horizontally projected, respectively. The largest distance between intersections was approximately 60 metres. Another hole drilled in 1999 intersected 1.54 metres of kimberlite approximately 160 metres northeast of the Faraday body, and a hole in 2001 intersected three intervals of kimberlite (with the thickest intersection being 1.74 metres) approximately 600 metres to the southwest of the Faraday body. It is suspected that the kimberlite intersections to the north and south of the Faraday body are probably connected to the Faraday body with a kimberlite-bearing dike structure that pinches and swells. Microdiamond results of kimberlite samples collected from the 1999 holes drilled into the Faraday body indicated that the microdiamond counts for the Faraday body are very similar to those for the 5034 and Hearne pipes. A ground gravity survey and detailed ground magnetic survey conducted in the current winter program covered the Faraday body and went approximately 600 metres to the south along the suspected structure connecting the Faraday body and the 2001 hole that intersected some kimberlite. The main purpose of the survey was to identify wider areas along the observed dike structure. Several such areas were identified, and two of the better target areas were drilled. The first target, a magnetic anomaly, was approximately 100 metres southwest of the Faraday body, and 5.6 metres of kimberlite horizontally projected was intersected. The kimberlite contained some country rock. The second target, a gravity anomaly, was approximately 520 metres southwest of the Faraday body and approximately 80 metres north of the 2001 drill hole. Kimberlite was encountered just below the lake bottom, and 21.5 metres of kimberlite horizontally projected was intersected. The recovered kimberlite will be sent for petrographic analysis and microdiamond recovery. Once those results are available, additional work as appropriate will be planned. The company is very pleased with the results and encouraged by the thicknesses of the kimberlite intersections, which clearly indicate that thicker sections occur along the dike structure. Separately, the company is still expecting to receive the modelled revenue per tonne values for the 5034 and Hearne pipes from De Beers before the end of the month. WARNING: The company relies upon litigation protection for "forward-looking" statements. (c) Copyright 2003 Canjex Publishing Ltd. stockwatch.com Click here for company snapshot: new.stockwatch.com Click here for recent SEDAR documents: new.stockwatch.com