The company has announced its Kennady North Project, Kelvin kimberlite, in Canada’s Northwest Territories to have an indicated mineral resource estimate of 13.62 million carats of diamonds.
The diamonds, contained in 8.50 million tonnes of kimberlite, have an overall grade of 1.60 carats per tonne, and an average value of US$63 per carat. This resource has been calculated with a 1-mm bottom cutoff size, a reasonable cutoff in commercial mining.
“Our resource announcement represents the culmination of a focused evaluation program that was intensified over the past two years. The internal geology and diamond distribution within Kelvin are now so well-constrained that our model meets the stringent requirements to qualify as an indicated resource,” stated Dr. Rory Moore, president and CEO of Kennady Diamonds.”I congratulate our team in taking Kelvin from discovery to 13-million carat indicated resource in the first four years of our company; quite possible a record timeframe in the history of Canadian diamond exploration.”
Located 280 km east-northwest of Yellowknife, the Kelvin kimberlite is adjacent to De Beers and Mountain Province Diamonds’ Gahcho Kué diamond mine.