Mountain Province Diamonds Inc. today announced record production results for the second quarter ended June 30, 2018 (Q2 2018) from the Gahcho Kué Diamond Mine (GK Mine). The Company also reported production results for the first half of 2018 (H1 2018).  

During Q2 2018, GK Mine’s plant treated a total 899,000 tonnes of ore, an increase of 17% compared to the same period of last year. In the first half of 2018, the plant treated 1,684,479 tonnes.

“A record 1,930,500 carats were recovered at an average grade of approximately 2.15 carats per tonne in Q2 2018,” Mountain Province reported. “Year to date, 3,571,500 carats have been recovered at an average grade of 2.12 carats per tonne.”

The Company noted that Q2 2018 recovered grade of 2.15 carats per tonne, was 2% higher than the same quarter last year, “reflecting a strong grade performance in the second quarter”.

However, ore tonnes mined in Q2 2018 at 341,000 tonnes, were “significantly less” than those mined in the same period last year. “This was primarily due to a high waste cycle in the quarter as a result of the start up of the Hearne Pit,” the Company explained. Year to date, a total of 1,082,000 tonnes of ore have been mined.

The Company stated that as a result of “ongoing improvements and optimisation work since commercial production began in early 2017”, the plant “continues to perform well and exceed expectations”. 

Moreover, the Company said, the recovered grade also “continues to outperform expectations” and is a “key driver” in achieving production targets at the GK Mine. And, with over 10 million tonnes of material being mined during the relevant quarter, mining operations are also “performing well”.

“Q2 2018 was a planned high waste cycle period brought on by the start up of the Hearne pit, as a result, ore tonnes mined were significantly less than was achieved during the same period last year,” Mountain Province explained. “It is not expected that this will impact full year ore mined targets.”

The Company was confident that as at June 30 2018, operations at the GK Mine were well positioned to achieve the upper end of its full year 2018 production guidance of 6.3 - 6.6 million carats recovered.

Stuart Brown, the Company's President and Chief Executive Officer, commented: "The second quarter performance continues to follow the trend of ongoing excellent performance set by the GK Mine team, in a safe and sustainable manner. We expect this trend to continue as we enter the second half of the year. The continued good performance is pleasing as the mine matures into its steady state production methodology of continuous improvement."