Kimberlite intersected in 14 out of 15 Kelvin Drill Holes
Shares Issued and Outstanding: 19,693,609
TSX-V: KDI
TORONTO, Sept. 3, 2013 /CNW/ - Kennady Diamonds Inc. ("Kennady Diamonds", the "Company") (TSX-V: KDI)
is pleased to announce that kimberlite has been intersected in the
final two step-out drill holes on strike to the north-west of the main
Kelvin kimberlite. Fourteen out of the fifteen Kelvin infill and
step-out drill holes intersected kimberlite during the current summer
drill program.
Drill holes KDI-13-044 and KDI-13-045 were drilled approximately 100
meters from Kelvin Lake and more than 300 meters from the main Kelvin
kimberlite. Based on the lengths of the kimberlite intersects, it is
believed that these holes define the north-west limit of the Kelvin
kimberlite emplacement.
Table 1 below details recent drill results.
Table 1
Drill Hole
|
Target
|
Azimuth
|
Inclination from Horizontal
|
Kimberlite Intercepts (m) Approximate
|
End of Hole (m)
|
From
|
To
|
Intercept*
|
KDI-13-044
|
Kelvin
|
032
|
-75
|
180.35
|
198.13
|
22.75
|
229
|
199.69
|
204.66
|
KDI-13-045
|
Kelvin
|
032
|
-45
|
105.68
|
134.75
|
29.07
|
160
|
*Not true widths
Patrick Evans, Kennady Diamonds CEO, commented: "We are very pleased
with the high success rate we've achieved during the current Kelvin
drill program. Fourteen out of fifteen drill holes intersected
kimberlite enabling us to recover more than 3 tonnes of kimberlite from
approximately 3,000 meters of drilling. We are particularly encouraged
that the step-out drilling continued to intersect kimberlite more than
300 meter to the north-west of the main Kelvin kimberlite".
Following the successful conclusion of the Kelvin drill program, drill
testing of three geophysical targets at the south end of Faraday Lake
has commenced. Drilling of these targets is expected to be completed
within ten days. At the conclusion of the drill program, the recovered
kimberlite will be dispatched to the Geoanalytical Laboratories Diamond
Services at the Saskatchewan Research Council for recovery of diamonds
by caustic fusion.
About Kennady Diamonds
Kennady Diamonds Inc. 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.
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.
Kennady Diamonds aims to identify a resource along the Kelvin - Faraday
kimberlite corridor of between 5 and 8 million tonnes, and also to
identify new kimberlites outside of the corridor. This tonnage estimate
is based on the drilling completed to date. The potential quantity is
conceptual in nature as there has been insufficient drilling to define
a mineral resource and it is uncertain if further exploration will
result in the target being delineated as a mineral resource.
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.
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Kennady Diamonds Inc.
Patrick Evans, President and CEO
(416) 640-1111