Kennady Diamonds Increases Land Position

August 18, 2016

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Kennady Diamonds (TSXV:KDI) has announced the acquisition of six mining leases from GGL Resources (TSXV:GGL), which adjoin the southern border of the Gahcho Kue Mine.

As quoted in the press release:

The new leases comprise roughly 4,233 hectares, bringing the total land position for the Kennady North Project to over 71,000 hectares.  Maps showing the new land position can be seen on the Company’s website under Media Links.

President & CEO of Kennady Diamonds, Dr. Rory Moore said, “We are delighted with this acquisition. It is a natural extension to our portfolio and strengthens our land position within the Kelvin-Faraday Corridor. Although our primary focus will remain the Kennady North area, we look forward to testing kimberlite targets within the new leases, beginning with an in-depth review of the historical data.”

The six mining leases in the Kennady Lake area are located approximately 270 kilometers east-northeast of Yellowknife, Northwest Territories. They are adjacent to eleven mining leases acquired from GGL in 2013 that included the diamondiferous Doyle Lakekimberlite. Of particular interest on the new leases is the ‘Blob Lake’ target, located in an unnamed lake five kilometers southwest of the Gahcho Kué Mine. The anomaly is defined by indicator mineral and geochemical studies conducted by GGL in 2007 and lies exactly within the Faraday–Kelvin Corridor, making it a highly attractive target.

Click here to read the full press release.

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Category: Gem