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NEWS RELEASE October 5, 2015 Shares Issued and Outstanding: 34,875,865 TSX-V: KDI Kennady Diamonds Announces Kelvin North Sample Grade of 2.6 carats per tonne Toronto, Ontario, October 5, 2015 – Kennady Diamonds Inc. (“Kennady Diamonds”, the “Company”) (TSX-V: KDI) is pleased to announce the diamond recovery results from the Kelvin 2015 spring core drilling program. Approximately 2.4 tonnes of kimberlite from the Kelvin North Lobe was processed by caustic fusion at the Geoanalytical Laboratories Diamond Services of the Saskatchewan Research Council (“SRC”) and returned a sample grade of 2.6 carats per tonne for diamonds of commercial size.
Kennady Diamonds CEO Patrick Evans commented: “We are very pleased with these excellent diamond recovery results, which provided further support for Kelvin’s potential to host a high grade diamond resource.”
Table 1 below summarizes the caustic fusion diamond recovery results from the Kelvin North Lobe 2015 spring drill program.
Table 1 – Kelvin North Lobe 2015 Spring Caustic Fusion Diamond Recovery Results | Sample Weight (dry tonnes) | Number of Diamonds According to Sieve Size Fraction (mm) | Total diamonds | Carats (+0.85mm sieve size) |
| +0.106 -0.150 | +0.150 -0.212 | +0.212 -0.300 | +0.300 -0.425 | +0.425 -0.600 | +0.600 -0.850 | +0.850 -1.180 | +1.180 -1.700 | +1.700 -2.360 | +2.360 -3.350 | +3.350 -4.750 |
| 2.416 | 2,348 | 1,632 | 1,034 | 639 | 397 | 209 | 113 | 53 | 24 | 6 | 0 | 6,455 | 6.29 |
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Sample grade of diamonds greater than 0.85mm: 2.60 carats per tonne The four largest diamonds recovered from the Kelvin North Lobe sample are described as:
- 0.23 carat off-white, transparent, broken octahedral with inclusions;
- 0.19 carat off-white, transparent, broken octahedral with minor inclusions;
- 0.18 carat off-white, transparent, broken octahedral with inclusions; and
- 0.17 carat off-white, transparent, octahedral with no inclusions.
A total of 198 individual diamonds from the above sample were described by the SRC. All but three are described as white and off-white. Two diamonds are described as yellow, only one as brown and none as gray.
The latest Kelvin North Lobe caustic fusion sample grade of
2.6 carats per tonne is in line with the following Kelvin North sample grades taken over the past 12 months:
- 2.57 carats per tonne from a 5 tonne sample reported on January 26, 2015;
- 2.74 carats per tonne from a 2.7 tonne sample reported on June 22, 2015.
On December 24, 2014 Kennady Diamonds also reported the sample grade of
2.59 carats per tonne from an 18.88 tonne mini-bulk sample taken from the Kelvin North Lobe and processed by dense-media separation at the SRC.
Mr. Evans noted: “Based on sampling completed to date, we have increased confidence in our Kelvin grade guidance of between 2 and 2.5 carats per tonne. Planning is now underway to recover an approximate 500 tonne bulk sample from the Kelvin North Lobe by large-diameter reverse-circulation drilling during the winter of 2016.”