Kennady Diamonds mineral resource of 5 million in Northwest Territories

At Kennady Diamonds North Project located in the Northwest Territories, Aurora Geosciences, SRK Consulting and Mineral Services Canada have confirmed the mineral resource of 5.02 million carats of diamonds, along with 3.27 million tonnes of kimberlite. The mineral resource attains an overall grade of 1.54 carats per tonne, at an incredible average of US$98 per carat.

“The 5-million carat Faraday inferred resource builds upon our Kelvin indicated resource of 13.62 million carats and represents another significant step in the advancement of our Kennady North Project,” said CEO of Kennady Diamonds Rory Moore.

The findings were found 2.5 km northeast of the Kelvin kimberlite project, and the estimation is based on a number of characteristics, including estimates of the average diamond value in each part, grade of each domain, as well as bulk density.

“Continued upside potential exists for the Faraday resource from the additional strike added to Faraday 2 during our successful summer 2017 program, which is not included in the current resource estimate,” explained Moore. “The additional tonnage, together with that from Faraday 1 and the high-grade sheets associated with the Faraday 1 to 3 Complex, have potential to materially increase the overall Faraday resource, particularly in view of the robust modelled diamond values obtained for the small sample of Faraday 1 of US$108, US$164, and US$267 per carat for the ‘low,’ ‘base case,’ and ‘high values.”

“Based on these results, we are planning our winter program with intent to further expand the resource potential of the project,” said Moore. “In addition to further delineating the Faraday kimberlites, we intend to drill-test a selection of the best untested geophysical targets within the Kelvin-Faraday corridor with the aim of discovering new high-potential kimberlites.”

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