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Mineral Resource & Reserves

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GAHCHO KUÉ MINE

The baseline estimation and classification of the mineral resources was completed by AMEC (now AMEC Foster Wheeler), summarized in the “Gahcho Kué Kimberlite Project NI 43-101 Technical Report” (AMEC 2009). As a result of an additional Tuzo deep drilling program undertaken in 2012, additions / modifications to the AMEC mineral resource for the Tuzo Deep mineral resources more than 300 metres below surface (mbs) elevation were summarized in the “Update of the Mineral Resource Estimate for the Tuzo Kimberlite, Gahcho Kué Project, Northwest Territories, Canada NI 43-101 Technical Report” by Mineral Services in 2013. The baseline resource by AMEC and the Tuzo Deep Resource by Mineral Services were compiled by JDS Energy & Mining Inc. for the 2014 Gahcho Kué Technical Report and Feasibility Study. Additional drilling has allowed classification of the 5034 Southwest Corridor and the 5034 Northeast Extension. All of these NI 43-101 reports can be found under the company name on www.sedar.com, with the most recent ones also provided in the website links below.

The estimation and classification of the mineral resources has since been updated by JDS to reflect operations as of 2019 (2020 Gahcho Kué Mine NI 43-101 Technical Report, NWT, Canada). These resources are exclusive of material processed prior to this report. Resources which were mined and stockpiled at the time of this report are summed separately from the remaining in-situ resources.

The Gahcho Kué Mine resources are summarized the tables below. JDS has reviewed the resources and compared them to those stated in the 2017 NI43-101 Technical Report and believes that depletion, modifying factors applied, and additional classified material used to generate the updated resource estimate are reasonable and provide an accurate and complete basis for state of the resource (December 31, 2019). Stated Resources are exclusive of Mineral Reserves.

table 1

  • Mineral Resources are reported at a bottom cut-off of 1.0 mm. Incidental diamonds are not incorporated in grade calculations.
  • Mineral Resources are not mineral reserves and do not have demonstrated economic viability.
  • Tonnes and carats are rounded to the nearest 100,000.
  • Resources are exclusive of indicated tonnages converted to probable reserves.
  • Resources have been depleted of any material that was processed prior to and including Dec 31 2019.

  • Mineral Reserves are reported at a bottom cut-off of 1.0 mm.
  • Mineral Reserves have been depleted to account for mining and processing activity prior to Dec 31 2019.
  • Mineral Reserves are based upon an updated resource model and reflect any changes to the estimation of Tonnes, Grade and Contained Carats within that resource.
  • Prices used to determine optimal pit shells have been escalated by factors varying by pit, which are indicative of the respective pits timing and duration.

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KENNADY NORTH PROJECT

At Kennady North, indicated and inferred resource estimates have been determined for the Kelvin and Faraday kimberlites, respectively. Geological model domains for the Kelvin, Faraday 2 and Faraday 1-3 kimberlites were adopted as the resource domains for the estimation of the Mineral Resources. The volumes of these domains were combined with estimates of bulk density to derive tonnage estimates. Bulk sampling programs using large diameter RC drilling were conducted to obtain grade and value information. Microdiamond data from drill core were used to forecast grades for the different kimberlite lithologies. Details of the modeling are available in NI 43-101 Compliant Technical Reports (filed in 2016 and 2017 under Kennady Diamonds Inc.) and the NI 43-101 Compliant Technical Report filed April 11, 2019 under Mountain Province Diamonds. All reports are available below and at www.sedar.com.  A summary of the estimated resources is provided in the table below (as of April, 2019).

table 2

  • Mineral Resources are reported at a bottom cut-off of 1.0 mm. Incidental diamonds are not incorporated in grade calculations.
  • Mineral Resources are not mineral reserves and do not have demonstrated economic viability.

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Natural diamonds from Canada’s North, creating value and respecting the invaluable.

60.60 Carat Vivid Yellow Rough Diamond