The company processed the sample by dense media separation at the Geoanalytical Laboratories Diamond Services of the Saskatchewan Research Council.

Kennady recovered a total of 35 diamonds larger than 1 carat from the bulk sample.

Kennady Diamonds CEO Patrick Evans said: "Given that this bulk sample was taken from the more diluted southeast lobe of the Kelvin kimberlite, we’re particularly pleased that the sample grade is above 2 carats per tonne.

"During 2014 we also recovered a 19 tonne mini-bulk sample from the north lobe of Kelvin that retuned a sample grade of 2.59 carats per tonne. Based on the excellent results from this bulk sample preparations will now commence for the bulk sampling of the Kelvin north lobe during the winter of 2016."

Kennady said three phases of kimberlite have been defined at the Kelvin kimberlite, described as zones A, B and C. Zone B has been further subdivided into zones B and Bx.

WWW International Diamond Consultants will provide an independent valuation of the Kelvin bulk sample diamonds.

It will also develop size frequency distribution and revenue models. The work will start in Antwerp, Belgium, early next month and is expected to be completed by October.

Kennady will use the results of the Kelvin bulk sample, combined with other results collected to date, to prepare an independent NI 43-101 resource statement for the Kelvin kimberlite, which is anticipated by the end of this year.