Kennady Diamonds Inc. has swung into action on its winter 2018 exploration programme.   

“Roughly 10,500 meters of diamond drilling is planned, with 60% of the drilling assigned to testing high-priority grassroots exploration targets and 40% to delineation and geotechnical drilling on the Faraday kimberlites,” the Company announced recently.

The programme will be underway at least until mid-May; and perhaps longer should ice conditions allow for safe drilling.

President and CEO of Kennady Diamonds, Dr. Rory Moore commented: “We are looking forward to resume our exploration and evaluation work on the Kennady North Project. What is particularly exciting is that the majority of the budgeted drilling is directed at high priority exploration targets that we have waited to test for a number of years as evaluation work on the Kelvin and Faraday kimberlites took priority.”

He added: “The delineation drilling program is designed to prepare for the next phase of bulk sampling that will extend the Faraday 2 resource along strike to the northwest, as well as upgrade the northeast limb of the Faraday 1-3 complex from a Target for Further Exploration (TFFE) to an Inferred Resource.”

Kennady began opening Kelvin Camp and started the construction of the ice infrastructure on January 29, 2018. “The ice infrastructure includes an ice airstrip, a spur road linking Kelvin Camp to the Gahcho Kuè spur road, and an ice road to the Faraday kimberlites,” Kennady elaborated.

Drill crews were scheduled to mobilise into Kelvin Camp on February 5th and the first of two core drills are expected to commence drilling within the following  week; while a second group will begin work shortly thereafter.

Kennady reiterated that it has closed the first tranche of the private placement of common shares announced in connection with the transaction with Mountain Province Diamonds Inc.   “The Company has issued 1,000,000 common shares at a price of $2.50 per share for proceeds of $2,500,000,” Kennady said. “The shares are subject to a four month hold period, expiring June 3, 2018.”

Further, the Company stated that proceeds of the offering will be used to fund the Company’s 2018 winter exploration programme on the Kennady North Project and for general corporate purposes.