Kennady Diamonds reported that it has discovered the first kimberlite at the Kennady North diamond project. The company identified new kimberlite at a geophysical target situated in Faraday Lake that is on trend between the Kelvin and Faraday kimberlites.
The company drilled an incline hole from shore that cut kimberlite at about 47 m of down-hole depth and this hole has continuously intercepted kimberlite towards the present depth of about 169 m. Kennedy has halted the drill program to study the drill hole and the campaign will restart and continue till the hole leaves kimberlite.
Patrick Evans, Kennady Diamonds’ Chief Executive Officer stated that the company is encouraged over the discovery of the first new kimberlite at the project within 10 days of the commencement of the summer drilling campaign. The company made an extensive intercept along a corridor, containing kimberlite, which houses popular diamond-bearing kimberlites.
As part of the 2012summer drilling campaign, the company has mobilized two drilling rigs to the Kennady North project, wherein one rig targeted drilling along the Kelvin-Faraday corridor, while the second rig targeted about 12 freshly identified high-priority geophysical target areas.
Mr. Evans commented that the company is examining fresh geophysical target areas that have close similarity to the popular kimberlites found at Kennady North and the adjacent Gahcho Kué JV between Mountain Province Diamonds and De Beers Canada. Mountain Province has discovered 55 recent geophysical target areas at the Gahcho Kué JV, in which about 40 targets have been categorized as high priority.