Kennady North boasts fourth kimberlite find

Kennady Diamonds Inc. March 17 said exploration drilling at its Kennady North diamond project in Nunavut has encountered a third kimberlite body at the high-grade Faraday kimberlite cluster.

Following the completion of ice-based infill drilling at the Faraday 1 kimberlite, the rig was moved to a geophysical target some 80 meters to the southwest where indications of the presence of kimberlite were discovered during the winter.

Three exploration holes have been completed at the Faraday 3 discovery within the past week with the latest hole intersecting more than 55 meters of kimberlite.

Kennady Diamonds President and CEO Patrick Evans said, "Faraday 3 is the fourth kimberlite body that we have discovered at Kennady North over the past three years.

Methodical exploration over the Kelvin - Faraday kimberlite corridor has increased our confidence in the potential for the discovery of further kimberlite bodies within the corridor." Additionally, 300 metric tons of kimberlite were recovered as part of the Kelvin North Lobe bulk sampling program.

The company's target is to recover some 500 metric tons, which is expected to result in the recovery of more than 1,000 carats of diamonds.

The diamond parcel will be used for revenue modeling of the Kelvin North Lobe.