January 26, 16
(IDEX Online News) – Kennady Diamonds Inc has reported diamond recovery rates from its Faraday 2 kimberlite of 4.48 carats per ton – the highest commercial grade yet recovered at the 100-percent owned Kennady North project.
The three largest diamonds recovered from Faraday 2 are described as, 1.43-carat off-white transparent hexahedron with no inclusions, 1.02-carat off-white transparent broken aggregate with inclusions and 0.28-carat off-white transparent dodecahedron with inclusions.
“We are very pleased with these exceptionally high diamond recovery results, which confirm that the Faraday kimberlites have the potential to host high grade diamond resources,” said Kennady president and CEO, Patrick Evans.
The company announced that the Kelvin North Lobe 500 ton bulk sample was on schedule, and expected to be completed by the end of March. Kennady also said that due to a $48 million non-brokered private placement, the company is fully funded until the end of 2017.