- Kelvin advanced exploration camp commissioned
- Mobilization for drilling commences
- 5 tonne Kelvin kimberlite sample currently being processed for diamond recoveries
- 24 tonne Kelvin mini-bulk sample being dispatched
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TORONTO, Nov. 26, 2014 /CNW/ - Kennady Diamonds Inc. ("Kennady Diamonds", the "Company") (TSX-V: KDI) is pleased to announce that the newly constructed 50-person advanced exploration camp adjacent to the Kelvin kimberlite has been commissioned and mobilization for drilling has commenced.
Previous drilling was supported from Bob camp, which is approximately 20 kilometers west of the Kelvin – Faraday kimberlite corridor. Bob camp will continue to serve as a regional exploration camp for the Company's 100 percent controlled Kennady North diamond project located in Canada's Northwest Territories.
Commenting, Kennady Diamonds CEO Patrick Evans said: "Commissioning of the K2 advanced exploration camp enables us to conduct drilling for most of the year, which will accelerate delineation of the Kelvin and Faraday kimberlites. Drilling at the Kelvin kimberlite was suspended last month due to unfavorable weather conditions which limited our ability to safely service the drill rigs by helicopter from Bob camp."
Mr. Evans added: "Exploration and delineation drilling has increased the strike of the Kelvin kimberlite to over 600 meters with the volume increasing on strike to the north. The drilling set to resume this week will continue to delineate the Kelvin kimberlite to the north-northeast in the direction of the Faraday kimberlite which is approximately 1 kilometer to the northeast."
Approximately 16,600 meters has been drilled at the Kelvin kimberlite as part of the 2014 summer/fall drill program. Based on success to date, the Company's target has been increased to 18,000 meters. In addition, approximately 28.7 tonnes of kimberlite has so far been recovered from Kelvin and the Company has increased its target to 30 tonnes.
The Company is also pleased to announce that approximately 5 tonnes of kimberlite from Kelvin is currently being processed by caustic fusion at the Geoanalytical Laboratories Diamond Services of the Saskatchewan Research Council ("SRC"). A further 24 tonnes of Kelvin kimberlite is being dispatched to the SRC within the next few days. Most of this mini-bulk sample will be processed through the dense media separation plant at the SRC. A small portion will be processed by caustic fusion to support development of diamond size frequency models for the north limb of the Kelvin kimberlite. Most of the diamond recovery results from these samples are expected by the end of the year.
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 define a resource along the Kelvin – Faraday kimberlite corridor of between 9 and 12 million tonnes at a grade of more than 2 carats per tonne 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.
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, [email protected]