Lithoquest Diamonds Commences Airborne Magnetic Survey on the North Kimberley Diamond Project
VANCOUVER, Nov. 14, 2018 - Lithoquest Diamonds Inc. (TSX-V: LDI) ("Lithoquest", or the"Company") today announced that it will conduct a high-definition airborne magneticsurvey over a key target area on its 100% owned North Kimberley Diamond Projectlocated in Western Australia. "Detailedmagnetic data was an important component in the discovery of the 1804kimberlite earlier this year," said Bruce Counts, CEO of Lithoquest. "Thecurrent high-resolution survey is designed to identify targets similar to 1804 inan area of the property where high-interest kimberlite indicator minerals havebeen recovered".
Approximately7,000 line-kilometres of magnetic data will be collected using a helicopter-basedsystem. The survey area measures approximately 300 square kilometres and will includethe 1804 kimberlite. Data will be collected along 50 metre spaced survey linesoriented in a N-S direction, with a maximum sensor height of 30 metres andcontrol lines spaced at 500 metres. The survey is designed to acquire lowlevel, high-resolution data over a large area and could eliminate the need forcostly follow-up ground surveys.
Thegeophysical crew has mobilized to the site and will commence surveyingimmediately upon arrival.The survey is anticipated to be complete bymid-December. Data from the survey will be used to identify and define drilltargets for the 2019 field season.
Qualified Person
Thetechnical contents of this news release have been reviewed and approved by BruceCounts, P. Geo., President, CEO and a Director of Lithoquest Diamonds Inc. andQualified Person under National Instrument 43-101.
About Lithoquest Diamonds Inc.
Lithoquestis a Canadian diamond exploration company focused on the discovery anddevelopment of economic diamond deposits on its 100%-owned North Kimberley DiamondProject located in Western Australia, approximately 65km east of the communityof Kalumburu.
Neitherthe TSX Venture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) has reviewed or acceptsresponsibility for the adequacy or accuracy of this release.
FORWARDLOOKING INFORMATION
Thisnews release includes certain information that may constitute "forward-lookinginformation" under applicable Canadian securities legislation. Forward-lookinginformation includes, but is not limited to, the Company's strategic plans,future operations, future work programs and objectives. Forward-lookinginformation is necessarily based upon a number of estimates and assumptionsthat, while considered reasonable, are subject to known and unknown risks,uncertainties, and other factors which may cause the actual results and futureevents to differ materially from those expressed or implied by such forward-lookinginformation. There can be no assurance that such information will prove to beaccurate, as actual results and future events could differ materially fromthose anticipated in such information. Accordingly, readers should not placeundue reliance on forward-looking information. All forward-looking informationcontained in this press release is given as of the date hereof and is basedupon the opinions and estimates of management and information available tomanagement as at the date hereof. The Company disclaims any intention orobligation to update or revise any forward-looking information, whether as aresult of new information, future events or otherwise, except as required bylaw.
Forfurther information, please contact:
LithoquestDiamonds Inc.
+1 (778)373-1485
info@lithoquest.com
SOURCE: Lithoquest Diamonds Inc.
