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Kennady Diamonds Inc.
Summary
| Project: | Kennady North | |
|---|---|---|
| Deposit: | Kelvin | |
| Location: | Canada | |
| Commodities: | Diamonds | |
| Date: | 12/12/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 12-12-2016: Kennady Diamonds Inc. announces a Resource Estimation report for its Kelvin deposit at the Kennady North project. Initial mineral resource estimate for project. Toronto, Ontario: December 12, 2016 – Kennady Diamonds Inc. (“Kennady”, the “Compa | |
| Resources: | (Resource, Ind.): 8.50Mt @ 1.60cpt for 13.62M carats contained | |
| CP/QP: | [Resources]: Dr. Tom Nowicki (Mineral Services Canada Inc.) | |
| ABSTRACT: | Toronto, Ontario: December 12, 2016 – Kennady Diamonds Inc. (“Kennady”, the “Company”) (TSX-V: KDI) is pleased to announce the completion of a maiden Mineral Resource estimate for the Kelvin kimberlite, located at the Company’s 100 percent owned Kennady North Project, NWT, Canada. An Indicated Mineral Resource of 13.62 million carats of diamonds is contained in 8.50 million tonnes of kimberlite, with an overall grade of 1.60 carats per tonne and an average value of US$63 per carat. The resource has been calculated with a 1mm diamond bottom cutoff size, which is considered a reasonable cutoff for a commercial mining scenario. The resource was determined through the collective efforts of Aurora Geosciences Ltd., Mineral Services Canada Inc., SRK Consulting Inc., and JDS Energy & Mining Inc., who were engaged by the Company to participate in the exercise. President and CEO of Kennady Diamonds Dr. Rory Moore stated: “Our resource announcement represents the culmination of a focused evaluation program that was intensified over the past two years. The internal geology and diamond distribution within Kelvin are now so well-constrained that our model meets the stringent requirements to qualify as an indicated resource. I congratulate our team in taking Kelvin from discovery to a 13-million carat Indicated Resource in the first four years of our company; quite possibly a record timeframe in the history of Canadian diamond exploration.” | |
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