Kennady Diamonds announces the successful completion of the Kelvin North Lobe bulk sampling program. Twenty nine large-diameter reverse-circulation (RC) holes were completed along the strike of the Kelvin North Lobe resulting in the recovery of approximately 580 tonnes of kimberlite, surpassing the Company’s 500 tonne target.
In addition, three ice-based infill large-diameter RC holes have been completed at the Kelvin Southeast Lobe. These holes are designed to support improved geological modeling. Kennady Diamonds is also pleased to announce that the Company has been able to recover a mini-bulk sample of approximately 20 tonnes from the Faraday 2 kimberlite. Drilling of two ice-based holes by large-diameter RC drilling has been completed.
Kennady Diamonds is also continuing ice-based exploration drilling at the Hobbes anomaly, which is located approximately 150 meters south of the Kelvin kimberlite. Hobbes was initially thought to be part of the hypabyssal Kelvin Sheet that extends to the southwest of the Kelvin pipe. However, the presence of volcaniclastic kimberlite was discovered at Hobbes during the winter of 2015, warranting further exploration. Table 3 below summarized the latest Hobbes drill results.
Mr. Evans commented: “Our focus at the Hobbes anomaly is to find the source of the volcaniclastic kimberlite. Exploration drilling will continue while ice conditions permit.”Based on the success of the 2016 Kelvin bulk sampling program, it is expected to that diamonds weighing more than 1,200 carats will be recovered. Processing of the bulk sample will take place at the Geoanalytical Laboratories Diamond Services of the Saskatchewan Research Council commencing in mid-May 2016. The valuation of the diamond parcel, which will be used for revenue modeling of the Kelvin North Lobe, is expected to be completed during Q3 2016.