Kennady Diamonds CEO Patrick Evans said: "The spring land-based drill program at the Faraday 2 kimberlite has got off to an excellent start with wide kimberlite intercepts in the first two holes.
"Recent drill intercepts indicate that the northwest lobe of the Faraday 2 pipe has a vertical thickness of approximately 70 meters and a width of approximately 50 meters."
Since the commencement of exploration drilling at Faraday 2, Kennady has defined a pipe-like body on a strike length of about 200m trending from southeast to northwest.
The company said core samples processing by caustic fusion is going ahead on schedule with the diamond recovery results from a 2.7 tonne Kelvin North sample anticipated by the end of this month.
The results from a 1 tonne Faraday 2 sample are expected in early July.
The company intends to find a resource along the Kelvin – Faraday kimberlite corridor of between a 12 and 15 million tonnes at a grade of between 2 and 2.5 carats per tonne. It also aims to identify new kimberlites outside of the corridor.
