High diamond grades at Kennady's Faraday 2

Kennady Diamonds Inc. May 23 reported that 737.6 carats of diamonds were recovered from a 262.6 metric ton sample collected during its large diameter drilling program at the Faraday 2 kimberlite of its Kennady North project in Northwest Territories.

At 2.81 carats per metric ton, the result from this sample is similar to a 2016 mini-bulk sample from the kimberlite that averaged 2.69 c/t.

The latest sample produced 45 diamonds that were one carat or greater, 12 of which are described as white in color.

The largest stone is a 4.72 carat white/colorless octahedron with minor inclusions.

"We are delighted with this excellent result from Faraday 2, as it confirms the high diamond grade suggested by the 21 tonne mini-bulk sample completed in 2016," said Kennady Diamonds President and CEO Rory Moore. "Moreover, even with the limitation of the small parcel size, the size distribution and quality characteristics of the Faraday 2 diamonds are better than the diamonds recovered from Kelvin to date. These results firmly support the potential for Faraday 2 to add additional high-grade diamond resources to those already established for the Kennady North project."

Results from bulk samples collected at Faraday 1 and 3 are expected to be available by mid-June.

After these sample are processed, an independent valuation of the diamonds will be completed, along with size frequency distribution and revenue models.

-SHANE LASLEY