The sample was processed by caustic fusion at the Geoanalytical Laboratories Diamond Services of the Saskatchewan Research Council ("SRC") and returned an exceptional sample grade of 3.55 carats per tonne for diamonds of commercial size.
Kennady Diamonds President and CEO Patrick Evans said: "Kelvin North Lobe drill samples continue to return outstanding diamond recovery results.
"Over the course of 2015 we have processed by caustic fusion a total of 14.7 tonnes of core samples from the Kelvin North Lobe, which have returned an average sample grade of 2.83 carats per tonne. These correspond well with a December 2014 North Lobe mini-bulk sample processed by dense media separation at the SRC, which returned a grade of 2.59 carats per tonne."
Mr. Evans added: "Planning is now well underway to recover an approximate 500 tonne bulk sample from the North Lobe in February/March next year, with results expected by mid-2016. The bulk sample is expected to deliver more than 1,200 carats to support revenue modeling for the Kelvin kimberlite."
Evans noted: "Diamond breakage during core drilling is common. At the end of bulk sampling programs we conduct diamond breakage studies to factor breakage into our diamond price modeling".
Preparation of the maiden Kelvin NI 43-101 resource statement is well underway and expected to be released in early 2016.
In early 2016, diamond recovery results will also be released for the following samples that have been delivered to the SRC:
1.35 tonnes from Kelvin North Lobe;
4.15 tonnes from Faraday 2 (in thee batches); and
0.55 tonnes from Faraday 1.
Mr. Evans concluded: "Following the recent closing of a $48M non-brokered private placement, Kennady Diamonds is fully funded to the end of 2017 when we expect to be in a position to make a decision to build the first mine at Kelvin."
