Kennady Diamonds Reports 4.65 carats per tonne Sample Grade at Faraday 1

Shares Issued and Outstanding: 46,906,970
TSX-V: KDI

TORONTO, Feb. 18, 2016 /CNW/ - Kennady Diamonds Inc. ("Kennady Diamonds", the "Company") (TSX-V: KDI) is pleased to announce the 2015 diamond recovery results from the Faraday 1 kimberlite at the Company's 100 percent-controlled Kennady North project. During the winter of 2015 a sample of 0.518 tonnes of kimberlite was recovered by core drilling at Faraday 1 and processed by caustic fusion at the Geoanalytical Laboratories Diamond Services of the Saskatchewan Research Council ("SRC") returning a total 'commercial' sample grade of 4.65 carats per tonne.

Kennady Diamonds President and CEO Patrick Evans noted: "Good progress was made in 2015 delineating and sampling the Faraday 1 kimberlite. We are very pleased with the excellent results. Delineation drilling to date has defined the strike of the Faraday 1 kimberlite over approx. 160 meters and the pipe remains open on strike to the northwest where core drilling is currently underway."

Table 1 below summarizes the 2015 caustic fusion diamond recovery results from the Faraday 1 kimberlite.

Table 1 – 2015 Faraday 1 Diamond Recovery Results

 

Sample Weight

 (dry tonnes)

Number and Weight of Diamonds According to Sieve Size Fraction (mm)

Total

diamonds

Carats

(+0.85mm

sieve size)

+0.106

-0.150

+0.150

-0.212

+0.212

-0.300

+0.300

-0.425

+0.425

-0.600

+0.600

-0.850

+0.850

-1.180

+1.180

-1.700

+1.700

-2.360

+2.360

-3.350

+3.350

-4.750

+4.750

0.518

741

491

257

162

84

41

29

13

3

0

0

1

1,822

2.41

*Sample grade of diamonds greater than 0.85mm: 4.65 carats per tonne

The three largest diamonds recovered from the Faraday 1 sample are described as:

  • 1.43 carat off-white, transparent octahedron with no inclusions;
  • 0.13 carat off-white, transparent tetra hexahedron with minor inclusions; and
  • 0.12 carat off-white, transparent tetra hexahedron with minor inclusions.

Mr. Evans added: "The ice-based drilling currently underway at Faraday 1 is designed to continue defining the pipe-like body on strike to the northwest to the point where land-based drilling in the spring/summer will be possible. Following completion of the current series of holes being drilled 40 meters beyond the last major intersects, the core rig will be moved to the southwest of the Faraday 1 kimberlite to test two areas where unexplained volcanoclastic kimberlite was intersected in 2015."

About Kennady Diamonds
Kennady Diamonds Inc. controls 100 percent of the Kennady North diamond project located in Canada's Northwest Territories immediately adjacent to the Gahcho Kué diamond mine currently under development by De Beers and Mountain Province Diamonds (T:MPV, NASDAQ: MDM).

Kennady Diamonds aims to identify a resource along the Kelvin – Faraday kimberlite corridor of between a 13 and 16 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 Persons
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

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www.kennadydiamonds.com

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