Kennady Diamonds Reports First New Kimberlite

Kennady Diamonds Inc., a subsidiary of Mountain Province Diamonds, made its first new kimberlite discovery at the company's Kennady North diamond project, Rapaport reported. The discovery was made at a geophysical target located at Faraday Lake on trend between the previously discovered Faraday and Kelvin kimberlites. An incline hole drilled from shore-intersected kimberlite first at a down-hole depth of approximately 47 meters and has continued to intersect kimberlite to the current depth of approximately 169 meters. Drilling has been stopped in order to survey the drill hole, following which it will recommence and continue until the hole exits kimberlite.
Patrick Evans, Kennady Diamonds' chief executive, said, ''It is very encouraging that we have discovered the first new kimberlite at Kennady North within 10 days of the start of our summer drill program. It is also extremely encouraging that we appear to have made a wide intercept along a kimberlite corridor that already hosts known diamond-bearing kimberlites.''
Two drill rigs have been mobilized to Kennady North with one drill rig focused on drilling along the Kelvin-Faraday kimberlite corridor, where the first new kimberlite has been discovered, and the second focused on approximately 12 newly discovered high-priority geophysical targets that are accessible from land during summer.
''The new geophysical targets that we are testing bear a close resemblance to the known kimberlites at both Kennady North as well as the neighboring Gahcho Kue joint venture between De Beers Canada and Mountain Province Diamonds,'' Evans said. ''Mountain Province has announced the discovery of 55 new geophysical targets at the Gahcho Kue joint venture, of which approximately 40 have been classified as high priority.''