Faraday 2 extended by 150 metres along
strike
Faraday 1 & 3 confirmed as one
kimberlite
Shares Issued and Outstanding: 50,912,599
TSX-V: KDI
TORONTO, Sept. 11, 2017 /CNW/ - Kennady Diamonds Inc.
("Kennady Diamonds", the "Company") (TSX-V: KDI) today announces
that the summer drilling program on the Kennady North Project has
been successfully completed. The program commenced on July 4, 2017 and nine HQ diameter drill holes
have been completed for a total of 2,766 metres. Since the update
provided in the news release of August 4,
2017, these latest results include three holes on the
Faraday 2 kimberlite and two holes on the Faraday 1 and 3
kimberlites.
President and CEO of Kennady Diamonds, Dr. Rory Moore commented: "We are very pleased with
the results of the 2017 summer drilling program. By continuing the
methodical approach to our drilling, we have successfully extended
the Faraday 2 kimberlite a further 150 metres along strike. It is
particularly noteworthy that the kimberlite has maintained a
relatively constant depth as it tracks northwards. The total strike
length of Faraday 2 now stands at approximately 600 metres, and the
latest drilling will add significant tonnage to the high-grade
resource potential of this kimberlite. The final hole of the
program delivered a 64.6-metre kimberlite intercept, one of the
longest kimberlite intercepts drilled on Faraday 2 to date."
Table 1 below summarizes the drill results on Faraday 2 since
the August 4 news release.
Table 1: 2017 Summer Drill Program results for Faraday
2
Drill
Hole
|
Target
|
Azimuth
|
Inclination
|
Kimberlite
Intercepts (m)
|
End of
Hole
(m)
|
From
|
To
|
Intercept*
|
KDI-17-004
|
Faraday 2
|
315
|
-80
|
232.45
|
286.15
|
53.70
|
318
|
KDI-17-007
|
Faraday 2
|
237
|
-64
|
304.30
|
314.00
|
9.70**
|
352
|
KDI-17-008
|
Faraday 2
|
308
|
-80
|
234.70
|
299.28
|
64.58
|
326
|
*Intercepts not true
widths. **The drillhole deviated unexpectedly from its
intended path, resulting in only a 9.7 m intercept at the lower
margin of the kimberlite body.
|
Of the two drill holes completed on the Faraday 1 and 3
kimberlites, one was positioned to collect geotechnical as well as
environmental data relevant to open pit and underground mining. The
second hole was drilled to test the potential connection at depth
between the Faraday 1 and 3 kimberlites. Kimberlite intercepts from
both holes have established that the two pipes are joined at the
northwestern tip of Faraday 1, and therefore, will in future be
considered a single kimberlite body termed "Faraday 1-3".
Table 2 below summarizes the drill results on Faraday 1-3.
Table 2: 2017 Summer Drill Program results for Faraday
1-3
Drill
Hole
|
Target
|
Azimuth
|
Inclination
|
Kimberlite
Intercepts (m)
|
End of
Hole
(m)
|
From
|
To
|
Intercept*
|
KDI-17-005
|
Faraday
1-3
|
140
|
-55
|
160.44
|
175.65
|
15.21
|
298
|
|
|
|
|
178.85
|
180.90
|
1.60**
|
298
|
KDI-17-006
|
Faraday
1-3
|
235
|
-54
|
118.84
|
122.27
|
3.43
|
256
|
|
|
|
|
134.25
|
135.72
|
1.47
|
256
|
|
|
|
|
140.50
|
141.50
|
1.00
|
256
|
|
|
|
|
154.00
|
154.5
|
0.50
|
256
|
|
|
|
|
156.00
|
160.50
|
4.50
|
256
|
|
|
|
|
161.78
|
161.97
|
0.19
|
256
|
|
|
|
|
177.10
|
181.55
|
4.45
|
256
|
|
|
|
|
187.00
|
188.10
|
1.10
|
256
|
*Intercepts not true
widths. **Includes minor country rock intercepts.
|
Dr. Moore went on to say, "On behalf of Directors of Kennady, I
extend sincere thanks and appreciation to the technical team at
Aurora Geosciences Ltd. for delivering yet another highly
successful drilling season without any lost time injuries.
The next step in the evaluation of the Faraday kimberlites will be
the announcement of the maiden resource results, which are expected
within the next week to ten days."
About Kennady Diamonds
Kennady Diamonds Inc. controls
100 percent of the Kennady North diamond project located in
Canada's Northwest Territories. Kennady North is
adjacent to the Gahcho Kué Diamond Mine, a joint venture between De
Beers Canada (51%) and Mountain
Province (49%), which started production in late 2016.
Kennady is focused on expanding its high-grade diamond resources
along the Kelvin – Faraday kimberlite corridor, as well identifying
new kimberlites outside of the corridor. To date an indicated
resource of 13.62 million carats of diamonds contained in 8.50
million tonnes of kimberlite, with a grade of 1.60 carats per tonne
and an average value of US$63 per
carat has been defined for the Kelvin kimberlite using a 1mm
diamond bottom cutoff size. The Kelvin – Faraday corridor is also a
target for further exploration.
Qualified Persons
This news release has been prepared
by Dr. Rory Moore, P.Geo., President
and CEO of Kennady Diamonds. The technical contents of this news
release have been reviewed and approved by Dr. Tom McCandless, P. Geo., an independent director
of Kennady Diamonds and 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.