Kennady Diamonds Drills 92 meters of Kimberlite at Kelvin

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TSX-V: KDI

  • Macro diamond found during logging of Kelvin core

TORONTO, July 23, 2015 /CNW/ - Kennady Diamonds Inc. ("Kennady Diamonds", the "Company") (TSX-V: KDI) is pleased to announce the latest drill results from the 100 percent-controlled Kennady North diamond project located in Canada's Northwest Territories. The Kennady North project is adjacent to the Gahcho Kué diamond mine currently under development by De Beers Canada and Mountain Province Diamonds (T:MPV; NASDAQ: MDM).

Kennady Diamonds CEO Patrick Evans commented: "At Kelvin we are currently conducting delineation/infill drilling in preparation for the maiden resource statement expected before the end of the year. Most of the current infill drill holes are designed to also provide geotechnical and hydrological data to support the future Kelvin mine design. Remarkably, another macro diamond was recovered last Friday during logging of core from the Kelvin hole 047. The dimensions of the diamond are approximately 2mm by 3mm. This is the third time that a diamond has been recovered during core logging at Kennady North and is a reflection of the very high diamond content of both the Kelvin and Faraday kimberlites."

Mr. Evans added:  "Drilling at the Faraday 2 kimberlite has been focused on delineating the lower portions of the pipe which inevitable results in shorter kimberlite intersects than previously reported. Based on the results to date it appears that the Faraday 2 kimberlite is changing direction from the SE to NW strike so far delineated over 240 meters."

Table 1 below provides details of the latest drill results from the Kelvin 2015 summer drill program.

Table 1

Kelvin 2015 Summer Drill Program

Drill Hole

Target

Azimuth

Inclination

Kimberlite Intercepts (m)

Approximate

End of Hole (m)

From

To

Intercept*

KDI-HQ15-046a

Kelvin North

256

-63

175.50

209.00**

32.50

271

KDI-HQ15-046b

Kelvin North

255

-70

196.50

289.00

92.50

301

KDI-HQ15-047

Kelvin SE

180

-70

91.00

148.80**

53.00

250

*

Intercepts in sub-vertical holes not true widths

**

Includes minor country rock intercepts

Table 2 below details the latest drill results from the Faraday 2 2015 summer drill program.

Table 2

Faraday 2 2015 Summer Drill Program

Drill Hole

Target

Azimuth

Inclination

Kimberlite Intercepts (m)

Approximate

End of Hole (m)

From

To

Intercept*

KDI-15-045b

Faraday 2

58

-61

213.30

216.40

3.10

250

KDI-15-045c

Faraday 2

58

-50

218.00

220.60

2.60

254

*

Intercepts in sub-vertical holes not true widths

A photograph of the Kelvin diamond recovered during core logging can be viewed on the homepage of the Company's website at www.kennadydiamonds.com.

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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 a 12 and 15 million tonnes at a grade of between 2 and 2.5 carats per tonne and also to identify new kimberlites outside of the corridor. The Kelvin – Faraday corridor is a target for further exploration. The 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.

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.

For further information: Kennady Diamonds Inc., Patrick Evans, President and CEO, (416) 640-1111, investor@kennadydiamonds.com

RELATED LINKS
www.kennadydiamonds.com

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