Kennady completes successful summer program
TORONTO, Sept. 11, 2017 /CNW/ - Kennady Diamonds Inc. ("Kennady Diamonds", the "Company") (TSX-V: KDI) today announces that the summer drilling program on the Kennady North Project has been successfully completed. The program commenced on July 4, 2017 and nine HQ diameter drill holes have been completed for a total of 2,766 metres. Since the update provided in the news release of August 4, 2017, these latest results include three holes on the Faraday 2 kimberlite and two holes on the Faraday 1 and 3 kimberlites.
President and CEO of Kennady Diamonds, Dr. Rory Moore commented: "We are very pleased with the results of the 2017 summer drilling program. By continuing the methodical approach to our drilling, we have successfully extended the Faraday 2 kimberlite a further 150 metres along strike. It is particularly noteworthy that the kimberlite has maintained a relatively constant depth as it tracks northwards. The total strike length of Faraday 2 now stands at approximately 600 metres, and the latest drilling will add significant tonnage to the high-grade resource potential of this kimberlite. The final hole of the program delivered a 64.6-metre kimberlite intercept, one of the longest kimberlite intercepts drilled on Faraday 2 to date."
Of the two drill holes completed on the Faraday 1 and 3 kimberlites, one was positioned to collect geotechnical as well as environmental data relevant to open pit and underground mining. The second hole was drilled to test the potential connection at depth between the Faraday 1 and 3 kimberlites. Kimberlite intercepts from both holes have established that the two pipes are joined at the northwestern tip of Faraday 1, and therefore, will in future be considered a single kimberlite body termed "Faraday 1-3".
Dr. Moore went on to say, "On behalf of Directors of Kennady, I extend sincere thanks and appreciation to the technical team at Aurora Geosciences Ltd. for delivering yet another highly successful drilling season without any lost time injuries. The next step in the evaluation of the Faraday kimberlites will be the announcement of the maiden resource results, which are expected within the next week to ten days."
About Kennady Diamonds
Kennady Diamonds Inc. controls 100 percent of the Kennady North diamond project located in Canada's Northwest Territories. Kennady North is adjacent to the Gahcho Kué Diamond Mine, a joint venture between De Beers Canada (51%) and Mountain Province (49%), which started production in late 2016. Kennady is focused on expanding its high-grade diamond resources along the Kelvin – Faraday kimberlite corridor, as well identifying new kimberlites outside of the corridor. To date an indicated resource of 13.62 million carats of diamonds contained in 8.50 million tonnes of kimberlite, with a grade of 1.60 carats per tonne and an average value of US$63 per carat has been defined for the Kelvin kimberlite using a 1mm diamond bottom cutoff size. The Kelvin – Faraday corridor is also a target for further exploration.
This news release has been prepared by Dr. Rory Moore, P.Geo., President and CEO of Kennady Diamonds. The technical contents of this news release have been reviewed and approved by Dr. Tom McCandless, P. Geo., an independent director of Kennady Diamonds and 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.