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Gold/Mining/Energy : NWT Diamond Stocks for 1999 -- Ignore unavailable to you. Want to Upgrade?

To: VAUGHN who wrote (56)	4/9/1999 11:32:00 AM
From: VAUGHN	Read Replies (1) \| Respond to of 62

Hello All On the wire this A.M. Mountain Province Mining, Inc. - Monopros/De Beers completes bulk sample kimberlite extraction; exploration drilling has commenced VANCOUVER, April 9 /CNW/ - Mountain Province Mining, Inc., (the ''Company'') is pleased to announce that the bulk sample kimberlite extraction from its four diamond pipes located on the AK claims in the NW Territories of Canada has been completed. Bulk sample drilling started on January 16th and was completed on April 6th. A total of 1666 tonnes of kimberlite has been extracted. Planned delineation drilling of the four pipes was completed in mid-March. Exploration drilling started on March 31st, 1999. BULK SAMPLE PROGRAM ------------------- Monopros Ltd. (Monopros), wholly-owned subsidiary of De Beers Consolidated Mines Ltd., (De Beers) and the project operator, late last year formally committed to a bulk sample program of the four pipes at an estimated cost of approximately C$14 Million. Bulk sample drilling, using two 12 1/4 inch diameter RC drills started on January 16th and was completed on April 6th. A total of 1666 tonnes of kimberlite was extracted from a total of 43 holes drilled into the four pipes to depths of up to 300 m. At the completion of drilling 575 tonnes were extracted from the 5034 pipe, 454 tonnes from the Hearne pipe, 460 tonnes from the Tuzo pipe and 177 tonnes from the Tesla pipe. The objective of sampling approximately 1600 tonnes of kimberlite by mid-April has been achieved and it is estimated that approximately 1000 carats of diamonds from each of the Hearne, Tuzo and 5034 pipes will be recovered. This should be sufficient to model grades and values per tonne for each of these pipes. It is anticipated that the sample from the Tesla will produce approximately 65 carats, which together with previously recovered diamonds from this body, will allow an improved estimate of the potential of this pipe. The kimberlite samples are currently being processed in Canada and the sample concentrates will subsequently be shipped to South Africa for final recovery of the diamonds. Results are expected during the course of this summer. DELINEATION ----------- A delineation core-drilling program commenced early in December and was completed mid-March. A total of 16 holes were drilled. The angled drill holes have provided additional information on the contacts of the four kimberlites at depth. A few of the delineation drill holes have longer kimberlite intersections than were expected, based on the initial estimates of the dimensions of the Hearne and the Tuzo pipes. On the Tuzo pipe, two angled holes intersected significant lengths of kimberlite (185 and 191 m horizontally projected) at depth in the East-West and Northeast to Southwest directions. These intersections indicate that the Tuzo, pipe broadens out at depth in these directions. These two holes terminated at depths of 340 and 357 m. This enlargement of the pipe at depth should increase the resource size of the Tuzo body, possibly significantly. Results from this delineation drilling program will be combined with earlier exploration and delineation drill results and then computer modeled to obtain improved resource tonnage estimates for the four pipes. EXPLORATION ----------- A comprehensive exploration program is planned for the upcoming weeks as part of ongoing efforts to discover additional kimberlite occurrences. During the summer of 1998, 945 till samples were collected on the AK claims and 893 on the CJ claims. Most of the results of this sampling program, (both visual sorting and microprobe analyses) have been received. These results are being evaluated in conjunction with previous sampling results and the numerous geophysical anomalies that have been identified. An additional indicator mineral train approximately 10 km Northeast of Kennady Lake has been confirmed. The most promising targets on the AK claims will be drilled during the weeks ahead. Exploration drilling, initially in and near Kennady Lake and then on other parts of the claims started on March 31st. The Company is very pleased with the progress of Monopros' work, especially considering the large size and the complexity of the bulk sampling program that has just been completed. Also, the Company is very encouraged by the results so far and is looking forward to the exploration program and the results this summer. The AK and CJ claims, located in the Northwest Territories of Canada, are held 90% by Mountain Province Mining Inc., and 10% by Camphor Ventures (VSE:CFV). As reported in the press release on March 7, 1997, Mountain Province Mining Inc. and its partners have entered into a joint venture agreement with Monopros, under which Monopros has the right to earn up to a 60% interest in the AK and CJ properties. On Behalf of the Board of Mountain Province Mining Inc. ''Jan W. Vandersande'' Jan W. Vandersande, Ph.D. President This 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 of the control of the company. -30- For further information: USA Office - (909) 466-1411, Email (USA): MtnProvInvRel@worldnet.att.net; or Canada Office - (604) 687-0122, Email (Canada): ir@mountainprovince.com; or Website: www.mountainprovince.com Regards