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Kennady Diamonds posts initial resource for Kelvin kimberlite

Kennady Diamonds Inc. posted an initial resource estimate for the Kelvin kimberlite on its Kennady North property in Canada's Northwest Territories.

The kimberlite pipe hosts indicated resources containing 13.62 million carats within 8.5 million tonnes grading 1.60 carats per tonne with an average value of US$63 per carat, according to the company's Dec. 12 news release.

The company noted that it has defined Kelvin as an L-shaped kimberlite pipe with a 700-meter strike length and a vertical thickness ranging from 70 meters in the southeast limb to 200 meters in the north limb. Mineralization remains open to the northwest.

Kennady Diamonds also reported that it will incorporate the Kelvin and Faraday ore bodies in an ongoing preliminary economic assessment, which is now anticipated in late 2017. The company discovered the Faraday 3 kimberlite in March and is working to advance the Faraday bodies to resource status.

The company is preparing to recover a bulk sample from the Faraday kimberlites as part of its 2017 winter work program, with geophysical studies also planned.