The company stated that the step-out drilling undertaken nearly 50m to the north-west of Kelvin Lake is boosting the miner’s confidence in the tonnage potential of the Kelvin kimberlite.
Kennady Diamonds CEO Patrick Evans said that the company is the delineation and infill drilling is contributing to the company’s understanding of the kimberlite structure and geology and should enable us to develop 3D models of the kimberlite.
"Delineation drilling to determine the limits of the kimberlite emplacement the north-west of the main Kelvin body is continuing," added Evans.
The ongoing summer drill program is estimated to return over 2,000kg of kimberlite, representing twice the 1,103kg recovered during last winter’s 5,000m drill program.
Recovered kimberlite would be sent to the Geoanalytical Laboratories Diamond Services at the Saskatchewan Research Council for recovery of diamonds through a caustic fusion process following the completion of the drill program, scheduled in September.
With the positive result of the program, the miner is looking to extend the drill program to about 3,000m, up from previously planned 2,500m.
"We expect to release diamond recovery results early in the fourth quarter. The additional data will facilitate progress towards the first resource statement for the Kennady North project and also add significantly to our diamond data base," Evans explained.
Kennady Diamonds has also closed the non-brokered private placement of flow-through and non-flow-through common shares raising about $1.5m.
