Kennady Diamonds (V.KDI) confirms potential of high-grade diamonds at Northwest Territory project

Kennady Diamonds (TSX: V.KDI, Stock Forum) significantly advanced exploration efforts at its Kennady North Project located 280 kilometres east-northeast of Yellowknife, Northwest Territories in the District of Mackenzie, when the company released results from the Kelvin summer/fall mini-bulk sample campaign.

According to the news release, the sample was recovered by drilling at the north lobe of the Kelvin kimberlite and was processed by dense media separation.

The testing was carried out at the Geoanalytical Laboratories Diamond Services of the Saskatchewan Research Council, accredited to the ISO/IEC 17025 standard by the Standards Council of Canada as a testing laboratory for diamond analysis.

SRK Consultants, of Vancouver, BC, have assisted in defining three zones of kimberlite at the Kelvin kimberlite, known as zones A, B and C. Each of the zones has been processed separately in order to define the variability in diamond size and grade.

The summer/fall mini-bulk sample showed 2.59 carats per tonne, approximately 40% higher than the 25 tonne mini-bulk sample recovered last winter/spring.

Company CEO, Patrick Evans, commented, “We are very pleased with the latest diamond recovery results, which confirm that the Kelvin kimberlite has the potential to host a high-grade diamond resource. Based on drilling and sampling completed to date, we estimate that the Kelvin – Faraday kimberlite cluster has the potential to host between 9 and 12 million tonnes.”

He then concluded, “Drilling to extend the strike of the Kelvin kimberlite to the northwest will resume in mid-January.”

Kennady Diamonds was in the news recently when the Toronto-based company announced intersecting kimberlite at Kelvin a little over a week ago.

Shares gained 5.04% on the news to $5.00 per share.