Analysis of Kennady North "Commercial" Size Diamonds
Shares Issued and Outstanding: 19,693,609
TSX-V: KDI
TORONTO, Sept. 18, 2013 /CNW/ - Kennady Diamonds Inc. ("Kennady Diamonds", the "Company") (TSX-V: KDI)
is pleased to announce that approximately 3,454 kilograms of kimberlite
has been dispatched to the Geoanalytical Laboratories Diamond Services
at the Saskatchewan Research Council for recovery of diamonds by
caustic fusion. The kimberlite was recovered from the 3,848 meter
summer drill program at the 100-percent controlled Kennady North
diamond project located in Canada's Northwest Territories. The first
results are expected early in the fourth quarter and final results are
expected before the end of November, 2013.
Following the successful completion of the 2013 summer drill program,
preparations for the 2014 winter exploration program have commenced.
This program is expected to include up to 10,000 meters of delineation
and exploration drilling, including extraction of a mini-bulk sample of
approximately 25 tonnes from the Kelvin kimberlite. The drilling will
be preceded by further geophysics over the Kelvin and Faraday
kimberlites, as well as new exploration targets outside of the Kelvin -
Faraday kimberlite corridor. Further details of the 2014 winter program
will be announced shortly.
Kennady Diamonds is also pleased to providing further analysis of the
results from the successful 2013 winter drill program. The 5,000 meter
drill program resulted in the recovery of 1.1 tonnes of kimberlite
which was also processed at the Geoanalytical Laboratories Diamond
Services at the Saskatchewan Research Council. As announced on August
6, 2013, the 1.1 tonnes sample returned a total 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.
Table 1 below provides details of the number and weight of the plus
0.85mm "commercial" size diamonds recovered from the Kelvin kimberlite.
Diamonds larger than 0.85mm can be sorted into categories with
different price points and are referred to, under Canadian Institute of
Mining ("CIM") guidelines, as "commercial".
Table 1 - Kelvin "Commercial" Size Diamonds
|
Sieve Size Fraction (mm)
|
+0.850
-1.180
|
+1.180
-1.700
|
+1.700
-2.360
|
+2.360
-3.350
|
+3.350
-4.750
|
+4.750
|
Total
|
Sample Grade (carats/tonne)
|
Number of Diamonds
|
64
|
31
|
9
|
3
|
2
|
1
|
110
|
|
Weight (ct)
|
0.7383
|
0.9922
|
0.7283
|
0.5598
|
1.6504
|
2.4818
|
7.1508
|
7.24
|
*Total sample weight 987.24kg
*Total sample grade 8.13 carats/tonne
Table 2 below provides details of the number and weight of the plus
0.85mm "commercial" size diamonds recovered from the Faraday
kimberlite.
Table 2 - Faraday "Commercial" Size Diamonds
|
Sieve Size Fraction (mm)
|
+0.850
-1.180
|
+1.180
-1.700
|
+1.700
-2.360
|
+2.360
-3.350
|
+3.350
-4.750
|
+4.750
|
Total
|
Sample grade (carats/tonne)
|
Number of Diamonds
|
13
|
8
|
4
|
1
|
0
|
0
|
26
|
|
Weight (ct)
|
0.1514
|
0.2483
|
0.5206
|
0.2219
|
0
|
0
|
1.1422
|
9.93
|
*Total sample weight 115.86kg
*Total sample grade 11.23 carats/tonne
Table 3 below provides details of the characteristics of the three
largest diamonds recovered from the 2013 winter drill program.
Table 3 - Diamond Characteristics
Weight (carats)
|
Length (mm)
|
Width (mm)
|
Height (mm)
|
Description
|
2.48
|
7.00
|
6.50
|
4.80
|
Off-white, transparent, octahedral,
inclusions
|
0.90
|
6.80
|
4.50
|
3.30
|
Off-white, transparent, irregular, broken,
inclusions
|
0.75
|
5.60
|
4.30
|
3.70
|
Off-white, transparent, octahedral,
inclusions
|
The 110 Kelvin diamonds larger than 0.85mm were recovered from 16
different drill holes across the approximate 1 kilometer strike of the
Kelvin kimberlite. The 26 Faraday diamonds larger than 0.85mm were
recovered from 5 different drill holes in separate locations at the
Faraday kimberlite. The three largest diamonds described above were
also recovered from three different drill holes at the Kelvin
kimberlite. Based on this, it is apparent that both the Kelvin and
Faraday kimberlites host "commercial" size diamonds across the length,
breadth and depth of the kimberlites rather than being concentrated in
particular areas of the kimberlites.
Photographs of the above octahedral diamonds are available at the
following link http://kennadydiamonds.com/project_overview/photos/.
****
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.
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