Kennady Diamonds has announced that exploration drilling at the Kennady North project has resulted in the discovery of a third kimberlite body at the high-grade Faraday kimberlite cluster.

Drilling at this geophysical target approximately 80 meters to the southwest where indications of the presence of volcaniclastic kimberlite were discovered during the winter of 2015, began following the completion of ice-based infill drilling at the Faraday 1 kimberlite.

Three exploration drill holes have been completed at this site within the past week and the latest hole has intersected more than 55 meters of kimberlite, the Company reported.

Kennady Diamonds President and CEO, Patrick Evans, commented: “Faraday 3 is the fourth kimberlite body that we have discovered at Kennady North over the past three years. Methodical exploration over the Kelvin – Faraday kimberlite corridor has increased our confidence in the potential for the discoveryof further kimberlite bodies within the corridor.”

The Company also said that the Kelvin North Lobe bulk sampling programm is progressing well with thirteen of 26 planned large-diameter holes completed and over 300 tonnes of kimberlite recovered to date. The Company’s target is to recover approximately 500 tonnes, which is expected to result in the recovery of diamonds weighing more than 1,000 carats. The diamond parcel will be used for revenue modeling of the Kelvin North Lobe.

The Company also reported the recovery of a second diamond in chip samples taken from the RC drilling, measuring approx. 2mm in maximum dimension.