Kennady Diamonds Intersects 37 meters of Kimberlite at Faraday

Shares Issued and Outstanding: 28,633,122
TSX-V: KDI

TORONTO, March 24, 2015 /CNW/ - Kennady Diamonds Inc. ("Kennady Diamonds", the "Company") (TSX-V: KDI) is pleased to announce that kimberlite has been intersected over 37 meters in delineation drill hole KDI-15-004a located approx. 30 meters to the northwest of the discovery holes at Faraday 2.  

Kennady Diamonds CEO Patrick Evans commented: "This is an exciting development. Drill results from the first four delineation holes at Faraday 2 indicate that the kimberlite is trending on strike to the northwest. We're also very encouraged by the good widths of the intersections. We plan to continue testing the continuity of Faraday 2 further to the northwest and will also test the continuity to the southeast of the discovery holes."

Table 1 below provides details of latest Faraday 2 drill results.

Table 1
Faraday 2015 Spring Drill Program

Drill Hole

Target

Azimuth

Inclination

Kimberlite Intercepts (m)

Approximate

End of Hole (m)

From

To

Intercept**

KDI-15-002b

Faraday 2

055

-62

50.70

81.44*

18.76

151

KDI-15-003

Faraday 2

070

-47

40.70

75.80

35.10

130

KDI-15-004a

Faraday 2

055

-45

52.10

89.10

37.00

139

*Includes minor country rock intercepts
**Intercepts in sub-vertical holes not true widths

Up to the end of 2014 Kennady Diamonds had recovered approx. 1 tonne of kimberlite from Faraday by drilling. Processing of the Faraday core samples by caustic fusion at the Geoanalytical Laboratories Diamond Services of the Saskatchewan Research Council ("SRC") yielded 4.76 carats greater than 0.85mm with a resultant "commercial" sample grade of 4.54 carats per tonne.

Kennady Diamonds is also pleased to report that good progress continues to be made with the bulk sampling of the Kelvin kimberlite. The bulk sample is being recovered using two large diameter reverse-circulation drill rigs. Approximately 300 tonnes has so far been recovered, most of which has already been delivered to the SRC.

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 10 and 13 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

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890