Shares Issued and Outstanding: 18,700,469
TSX-V: KDI
TORONTO, Aug. 12, 2013 /CNW/ - Kennady Diamonds Inc. ("Kennady Diamonds", the "Company") (TSX-V: KDI)
is pleased to announce that over 100 meters of kimberlite has been
intersected in two further infill drill holes at the north lobe of the
Kelvin kimberlite. The infill drill program is designed to define the
size and shape of the Kelvin kimberlite from which high-grade samples
have been recovered. Table 1 below details the most recent drill
results.
Table 1
|
Drill Hole
|
Target
|
Azimuth
|
Inclination
from
Horizontal
|
Kimberlite Intercepts (m)
|
End of
Hole (m)
|
|
From
|
To
|
Intercept*
|
|
KDI-13-035
|
Kelvin
|
120
|
-60
|
44.96
|
148.74
|
102.70
|
181
|
|
KDI-13-036
|
Kelvin
|
120
|
-90
|
46.00
|
153.63
|
107.63
|
178
|
*Not true widths
Patrick Evans, Kennady Diamonds CEO, commented: "We are very encouraged
by the excellent widths we continue to intersect at the north lobe of
the Kelvin kimberlite. The delineation and infill drilling is
contributing to our understanding of the kimberlite geology and is
expected to enable us to develop 3D models of the kimberlite.
Delineation drilling to determine the limits of the kimberlite
emplacement the northwest of the main Kelvin body is continuing."
The current summer drill program is expected to result in the recovery
of approximately 2,000 kilograms of kimberlite, which is nearly double
the 1,103 kilograms recovered during last winter's 5,000 meter drill
program. At the conclusion of the drill program later in August, the
kimberlite will be dispatched to the Geoanalytical Laboratories Diamond
Services at the Saskatchewan Research Council for recovery of diamonds
by caustic fusion.
Mr. Evans concluded: "Diamond recovery results are expected to be
released early in the fourth quarter. The additional data will
facilitate progress towards the first resource statement for the
Kennady North project and also add significantly to the diamond data
base".
****
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. A 5,000 meter drill program
conducted during the winter of 2013 returned an exceptional sample
grade of 8.44 carats per tonne. The largest three diamonds recovered
were 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 diamonds of this size and quality from a
1.1 tonne sample is very encouraging.
****
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.
