- 161 meters of kimberlite intersected in
vertical hole at Kelvin north lobe
- High quality 0.94 carat diamond recovered
during core logging at site
- 9,100 meters of drilling completed to
date
- 19 tonnes of kimberlite recovered from
Kelvin
Shares Issued and Outstanding:
22,857,675
TSX-V: KDI
TORONTO, Sept. 2, 2014 /CNW/ - Kennady Diamonds Inc.
("Kennady Diamonds", the "Company") (TSX-V: KDI) is pleased to
announce the latest results from the 2014 summer drill program at
the Company's 100 percent controlled Kennady North diamond project
located in Canada's Northwest Territories. Exploration,
delineation and mini-bulk sample drilling is currently underway at
the Kelvin kimberlite.
Kennady Diamonds CEO Patrick
Evans commented: "Delineation drilling at the north lobe of
the Kelvin kimberlite pipe continues to exceed expectations. A
vertical delineation hole (KDI-14HQ-031a) drilled at the north end
of the Kelvin pipe intersected over 161 meters of kimberlite from a
downhole depth of approx. 127 meters. This is shallower than
previously modeled and indicates the potential for additional
tonnage at the high-grade Kelvin pipe".
Kennady Diamonds is also pleased to announce the recovery at
site of a high quality 0.94 carat diamond found during logging of
core from the Kelvin kimberlite. The diamond measures
7.00mmX4.50mmX3.50mm and is described as white/colorless,
transparent, octahedral, distorted, twin with etched trigons. The
diamond has no inclusions. The diamond was found at a break in the
core from drill hole KDI-HQ14-030a at a depth of approx. 75 meters.
Photographs of the diamond will be posted on the Company's website
at www.kennadydiamonds.com.
Table 1 below provides details of the latest mini-bulk sample
holes drilled at the Kelvin kimberlite.
Table 1
Kelvin 2014 Summer Mini-Bulk Sample Drill
Program
Drill
Hole
|
Target
|
Azimuth
|
Inclination
|
Kimberlite
Intercepts (m)
Approximate
|
End
of
Hole
(m)
|
From
|
To
|
Intercept
|
KDI-14HQ-029b
|
Kelvin
|
355
|
-90
|
74.80
|
177.70*
|
90.90
|
184
|
KDI-14HQ-030a
|
Kelvin
|
355
|
-80
|
72.50
|
223.20*
|
122.30
|
229
|
KDI-14HQ-030b
|
Kelvin
|
355
|
-90
|
70.30
|
193.90*
|
114.40
|
202
|
*Includes minor country rock intercepts
**Intersects in sub-vertical holes not true widths
Table 2 below provides details of the latest delineation holes
drilled at the north lobe of the elongated Kelvin kimberlite
pipe.
Table 2
Kelvin 2014 Summer Delineation Drill
Program
Drill
Hole
|
Target
|
Azimuth
|
Inclination
|
Kimberlite
Intercepts (m)
Approximate
|
End
of
Hole
(m)
|
From
|
To
|
Intercept
|
KDI-14-047
|
Kelvin
|
255
|
-65
|
207.90
|
263.10
|
43.30
|
322
|
KDI-14-052a
|
Kelvin
|
255
|
-65
|
102.00
|
203.00
|
101.00
|
230
|
KDI-14-052b
|
Kelvin
|
255
|
-75
|
205.60
|
238.70
|
33.10
|
249
|
KDI-14HQ-031a
|
Kelvin
|
355
|
-90
|
126.90
|
298.00*
|
161.50
|
319
|
KDI-14-054a
|
Kelvin
|
75
|
-65
|
153.90
|
246.50*
|
49.10
|
302
|
*Includes minor country rock intercepts
**Intersects in sub-vertical holes not true widths
Table 3 below details the latest exploration holes drilled to
define the down-dip of the Kelvin kimberlite dyke.
Table 3
Kelvin 2014 Summer Exploration Drill
Program
Drill
Hole
|
Target
|
Azimuth
|
Inclination
|
Kimberlite
Intercepts (m)
Approximate
|
End
of
Hole
(m)
|
From
|
To
|
Intercept
|
KDI-14-050
|
Kelvin
|
255
|
-75
|
234.90
|
274.20*
|
3.80
|
353
|
KDI-14-051a
|
Kelvin
|
90
|
-90
|
165.00
|
172.40*
|
1.95
|
220
|
KDI-14-051b
|
Kelvin
|
90
|
-65
|
156.70
|
161.40*
|
2.60
|
175
|
KDI-14-053a
|
Kelvin
|
92
|
-49
|
222.45
|
223.72
|
1.27
|
238
|
*Includes minor country rock intercepts
**Intercepts in sub-vertical holes not true widths
To date, approximately 19 tonnes of kimberlite has been
recovered from Kelvin. This is in addition to the 25 tonnes
recovered from Kelvin during last spring's drill program. The 25
tonne mini-bulk sample is currently being processing at the
Geoanalytical Laboratories Diamond Services of the Saskatchewan
Research Council ("SRC"). Results from the Kelvin mini-bulk sample
are expected early in the fourth quarter of 2014.
The focus of current drilling remains on delineation,
exploration and mini-bulk sample drilling at the Kelvin kimberlite.
Drilling at the Faraday, MZ and Doyle kimberlites and approximately
four new exploration targets is also planned prior to the end of
the current drill season.
About Kennady Diamonds
Kennady Diamonds Inc. controls 100 percent of the Kennady North
diamond project located immediately to the north, west and south of
the Gahcho Kué diamond mine currently under development by De Beers
and Mountain Province Diamonds.
Kennady Diamonds aims to identify a resource along the Kelvin –
Faraday kimberlite corridor of between 7 and 10 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.
An 8,500 meter drill program conducted in 2013 returned
exceptional sample grades. A 4.3 tonne sample from the Kelvin
kimberlite retuned a grade of 5.38 carats per tonne. An approx. one
tonne sample from the Faraday kimberlite returned a sample grade of
5.10 carats per tonne. The three largest diamonds recovered from
the Kelvin kimberlite were a 2.48 carat off-white transparent
octahedral, 1.06 carat off-white broken aggregate and a 0.90 carat
off-white transparent irregular. The recovery of diamonds of this
size and quality from a 4.3 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.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) has reviewed or accepts responsibility for the
adequacy or accuracy of this release.
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.