Kennady Diamonds Appoints Robert Parsons to Board
Shares Issued and Outstanding: 22,857,675
TORONTO, March 10, 2014 /CNW/ - Kennady Diamonds Inc. ("Kennady Diamonds", the "Company") (TSX-V: KDI) is pleased to announce the appointment of Robert Parsons to the Company's board of directors.
Mr. Parsons is a Chartered Accountant and retired PricewaterhouseCoopers partner after a career spanning 34 years. He currently serves on the International Affairs Committee of the Prospectors and Developers Association of Canada. He has served on the boards of the PDAC (1985-2003), the Indonesian Mining Association, the Canada Indonesia Chamber of Commerce, the World Mines Ministries Forum, the Canadian Minerals Industry Federation, the Advisory Council of the Centre for Resource Studies at Queens University, and the Professional Advisory Board of the Government of Canada's Petroleum Monitoring Agency. He has previously served on the boards of several listed exploration companies and is currently a director of Indico Resources Ltd., Prism Resources Inc., and Eagle Hill Exploration. In 2013, the Government of Canada awarded Mr. Parsons the Queen Elizabeth II Diamond Jubilee Medal for his contribution to Canada's mining industry. Mr. Parsons is a graduate of McGill University (B.Com, 1968) and a resident of Vancouver, BC.
Jonathan Comerford, chairman of Kennady Diamonds, said: "We are delighted to welcome Bob as a director and look forward to the contribution he will make to Kennady Diamonds".
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 a 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.
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. A smaller 116 kg sample from the Faraday kimberlite returned a sample grade of 11.23 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.
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.
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Kennady Diamonds Inc.
Patrick Evans, President and CEO