Kennady Diamonds Inc reported that the diamond recovery results from its large diameter drilling program on the Faraday 2 kimberlite at its Kennady North project n NWT Canada yielded a sample grade of 2.81 carats per tonne. This reconfirms the earlier high diamond grade suggested by the 21 tonne mini-bulk sample completed in 2016, the Company said.

During this sample, a total of 737.6 carats of diamonds (+0.85mm) were recovered from 262.6 tonnes, Kennady reported. This was similar to the mini-bulk sample grade of 2.69 carats per tonne reported in 2016.

In the latest sample, 45 diamonds of one carat or greater were recovered of which 12 are described as white in colour. The four largest diamonds recovered from the Faraday 2 bulk sample are described by the SRC as:

• 4.72 carat white/colorless octahedron with minor inclusions

• 4.28 carat off-white transparent octahedron with noticeable inclusions;

• 3.45 carat brown transparent octahedron with noticeable inclusions;

• 2.69 carat white/colorless, transparent tetrahexahedroid with noticeable inclusions

President and CEO of Kennady Diamonds, Dr. Rory Moore commented: “We are delighted with this excellent result from Faraday 2, as it confirms the high diamond grade suggested by the 21 tonne mini-bulk sample completed in 2016. Moreover, even with the limitation of the small parcel size, the size distribution and quality characteristics of the Faraday 2 diamonds are better than the diamonds recovered from Kelvin to date. These results firmly support the potential for Faraday 2 to add additional high-grade diamond resources to those already established for the Kennady North Project.”

Dr. Moore added that the Faraday 2 diamond parcel is notably higher in white diamonds compared to Kelvin, with the additional presence of fancy yellow stones extending into the carater size range. He also said that the “high quality white gem population observed at Kelvin is well-represented at Faraday 2, with a higher incidence of well-formed octahedral crystals in the larger size fractions”.

Results from the Faraday 3 and 1 bulk samples are expected to be available by mid-June, Kennady reported.