Kennady Diamonds Updates Kelvin Kimberlite Drilling
Press Release –
July 24, 2014
Shares Issued and Outstanding: 22,857,675
TSX-V: KDI
- 183 meters of kimberlite intersected in Kelvin delineation drill hole
- Third drill rig mobilized and summer target doubled to 10,000 meters
- 7 tonnes of kimberlite recovered to date
- Kelvin – Faraday kimberlite tonnage estimate to be revised upwards
Toronto, Ontario, July 24, 2014 – Kennady Diamonds Inc. (“Kennady Diamonds”, the “Company”) (TSX-V: KDI) is pleased to announce the latest results from the 2014 summer drill program at the Company’s 100 percent controlled Kennady North diamond project located in Canada’s Northwest Territories. Both delineation (DEL) and mini-bulk sample (MBS) drilling is currently underway at the northwest lobe of the Kelvin kimberlite. Delineation drill hole KDI-14-039 drilled over 183 meters of kimberlite—all to the north and outside the current Kelvin geological model.
Kennady Diamonds CEO Patrick Evans noted: “Delineation drilling to the north of the Kelvin kimberlite is exceeding our expectations. The 183 meter kimberlite intersect is the longest to date at Kennady North. Based on the results from the first three Kelvin delineation drill holes, we are currently reviewing our tonnage estimate for the Kelvin – Faraday kimberlite corridor, which we expect to increase beyond the current 5 to 8 million tonne estimate. In addition, we have decided to mobilize a third drill rig to support an expanded summer drill program.”
Table 1 below provides details of the latest holes drilled at the Kelvin kimberlite.
