Jul 21, 2017

In the First Quarter of Full Production, Gahcho Kué Averages Recovery Rate of 2.10 CPT

Mountain Province Diamonds Inc. reporting production for the second quarter ended June 30, 2017, said that on a 100%  basis,  the Gahcho Kué Diamond Mine (GK Mine ) touched an average grade of approximately 2.10 carats per tonne. A total of about 767,000 tonnes of ore was treated at the process plant; and approximately 1,614,000 carats were recovered.

 In its announcement, the Company noted that this second quarter – for which it was reporting – represented the first full quarter of commercial production for the GK Mine, since commercial production was declared on March 1, 2017.

Mountain Province also reported that mining of overburden, waste rock and ore in the 5034 open pit, for the second quarter 2017, stood at  approximately 8.4 million tonnes, with roughly 396,000 tonnes of ore (100 percent basis) stockpiled at the end of the period.

 “In this first full calendar quarter of operations since the declaration of commercial production, the GK Mine diamond processing plant averaged 8,618 tonnes of kimberlite processed per day, and 8,977 tonnes per day over the most recent two months of May and June, notably in excess of its nameplate capacity of 8,226 tonnes per day,” the Company announced.

David Whittle, the Company’s Interim President and Chief Executive Officer, commented: “Given the strong plant performance and our favourable grade experience to date, we remain confident we will meet or exceed our full-year 2017 production guidance.”

The Company also announced that Patrick Evans has now resigned as a Director of Mountain Province, following his departure in early June as Chief Executive Officer.  

Jonathan Comerford, Chair of the Board of Directors of the Company, said “Patrick’s assistance through our CEO transition has been greatly appreciated, and after his 11 years of service on the Board we wish him the best in his future endeavours.”