Grade 8.44 carats per tonne
2.48 carat, 0.90 carat and 0.75 carat diamonds recovered
Shares Issued and Outstanding: 18,700,469
TSX-V: KDI
TORONTO, Aug. 6, 2013 /CNW/ - Kennady Diamonds Inc. ("Kennady Diamonds",
the "Company") (TSX-V: KDI) is very pleased to announce exceptional
diamond recovery results from samples of drill core from the Kelvin and
Faraday kimberlites located at the Kennady North diamond project in
Canada's Northwest Territories. The core was recovered during a
successful 5,000 meter drill program undertaken last winter.
Patrick Evans, Kennady Diamonds CEO, commented: "The sample grade of
8.44 carats per tonne is exceptional and confirms that the
Kelvin-Faraday kimberlite cluster has a coarse diamond size
distribution as well as the potential to host a high grade diamond
resource."
The largest three diamonds recovered are a 2.48 carat off-white
transparent octahedral, a 0.90 carat off-white transparent irregular,
and a 0.75 carat off-white transparent octahedral. The recovery of
three diamonds of this size and quality from a 1.1 tonne sample is very
encouraging.
Besides the high frequency of large diamonds, approximately 64 percent
of the recovered diamonds are classified as white and transparent.
Almost all the white diamonds have either no inclusions or only minor
inclusions. In addition, approximately 3 percent of the diamonds are
classified as yellow and transparent with either no or only minor
inclusions. The bulk of the balance of the diamonds are classified as
off-white. Only seven microdiamonds (out of 8,708) are described as
either brown or grey. Together with grade, these characteristics are
key value drivers.
The recovery of diamonds from the kimberlite intersects was undertaken
by caustic fusion methods performed at the Geoanalystical Laboratories
Diamond Services of the Saskatchewan Research Council, which is
accredited to the ISO/IEC 17025 standard by the Standards Council of
Canada as a testing laboratory for diamond analysis using caustic
fusion. The combined caustic fusion diamond results for samples taken
from the Kelvin and Faraday kimberlites are summarized below in Table
1.
Table 1
Total
Weight
(Kg)
|
Number of Diamonds According to Sieve Size Fraction (mm)
|
Total
Diamonds
|
+0.075
-0.106
|
+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
|
+4.750
|
1,103
|
3,139
|
2,285
|
1,283
|
823
|
552
|
289
|
199
|
78
|
40
|
13
|
4
|
2
|
1
|
8,708
|
Diamond recoveries for each of the kimberlites are provided in Table 2
below.
Table 2
Kimberlite
|
Sample Weight
(Kg)
|
Macro
Diamonds
Recovered
(>500 microns)
|
Micro
Diamonds
Recovered
(<500 microns)
|
Macro
Diamonds
Weight
(carats)
|
Sample Grade
(carats/tonne)
|
Kelvin
|
987.24
|
393
|
6,687
|
8.024511
|
8.13
|
Faraday
|
115.86
|
67
|
1,561
|
1.292030
|
11.23
|
Total
|
1,103.10
|
460
|
8,248
|
9.316541*
|
8.44
|
*Total weight of the sample is 10.06 carats
This 1.1 tonne sample is the largest sample processed to date. During
the winter drill program kimberlite was intersected in 24 out of 26
infill drill holes, with intersects of up to 100 meters. Interpretation
of the drill results suggests that the Kelvin and Faraday kimberlites
should be treated separately. Both kimberlites appear to have a strike
of over 1 kilometer trending southwest to northeast. It is now apparent
that the Hobbes kimberlite, which was identified during previous
drilling, is in fact part of the larger Kelvin kimberlite.
The current 2,500 meter summer drill program is progressing
satisfactorily. All five of the Kelvin infill drill holes completed to
date have intersected kimberlite. Further results will be released
shortly. The remaining three infill drill holes are expected to be
completed by mid-August following which approximately ten geophysical
targets outside of the Kelvin - Faraday kimberlite cluster will be
drill tested.
Mr. Evans concluded: "The infill drilling at Kelvin and Faraday is
designed to advance our plans to declare a maiden resource at Kennady
North. Based on these very encouraging results, the Company is now also
examining the options to fast-track a bulk sample of the Kelvin and
Faraday kimberlites.
About Kennady Diamonds
Kennady Diamonds controls 100 percent of the Kennady North project which
comprises thirteen leases and claims located immediately to the north
and west of the four leases controlled by the Gahcho Kué Joint Venture
between De Beers Canada (51%) and Mountain Province (49%) located in
Canada's Northwest Territories.
Kennady Diamonds aims to identify a minimum 5 million tonne resource
along the Kelvin - Faraday kimberlite corridor and also to identify new
kimberlites outside of the corridor.
****
Qualified Person
This news release has been prepared under the supervision of Carl G.
Verley, P.Geo., who serves as the qualified person under National
Instrument 43-101.
FORWARD LOOKING INFORMATION
This news release includes certain information that may constitute
"forward-looking information" under applicable Canadian securities
legislation. Forward-looking information includes, but is not limited
to, the Company's strategic plans, future operations, future work
programs and objectives. Forward-looking information is necessarily
based upon a number of estimates and assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties, and
other factors which may cause the actual results and future events to
differ materially from those expressed or implied by such
forward-looking information. There can be no assurance that such
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
information. Accordingly, readers should not place undue reliance on
forward-looking information. All forward-looking information contained
in this press release is given as of the date hereof and is based upon
the opinions and estimates of management and information available to
management as at the date hereof. The Company disclaims any intention
or obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise,
except as required by law.
SOURCE: Kennady Diamonds Inc.