Kennady Diamonds announces valuation of diamonds from Faraday kimberlites

A total of 1,259.16 carats were sent to WWW International Diamond Consultants
Image Courtesy: Kennady Diamonds Inc.
Image Courtesy: Kennady Diamonds Inc.

Kennady Diamonds Inc. announced the valuation results for diamonds recovered from the Faraday kimberlites at the 100 percent-controlled Kennady North project located in Canada’s Northwest Territories. A total of 1,259.16 carats (+0.85mm) recovered from the 2017 bulk sampling program were sent to WWW International Diamond Consultants (‘WWW’) in Antwerp for valuation. The WWW report has noted a collective average value of US$109 per carat for the entire parcel. In particular, a population of high value white gem quality stones was noted in all three of the Faraday bodies, including a 7.78 carat sawable diamond recovered from Faraday 3 valued at US$2,967 per carat.

President and CEO of Kennady Diamonds, Dr. Rory Moore commented: “We are delighted with the results of the Faraday bulk sampling program. Our previously reported grades that range between 1.67 and 2.91 carats per tonne for the three Faraday kimberlites, combined with these valuations, provide a strong foundation on which to build a high-value resource at the Faradays. It is also gratifying to see strong prices for larger white gems represented in the parcel, as evidenced by the $2,967 per carat value assigned to the 7.78 carat gem recovered from Faraday 3.”

The five highest value diamonds on a dollar per carat basis from the Faraday bulk samples include: 1. 7.78 carat sawable octahedron valued at US$2,967 per carat, 2. 4.02 carat sawable octahedron valued at US$2,526 per carat 3. 3.08 carat sawable octahedron valued at US$1,966 per carat 4. 4.72 carat sawable octahedron valued at US$1,667 per carat 5. 2.37 carat sawable diamond valued at US$1,502 per carat.

Dr. Moore concluded: “It is gratifying to see a notably higher proportion of white gems together with a coarser size distribution of Faraday diamonds relative to Kelvin, which translates into significantly higher average diamond prices. These results represent a major step forward for Kennady towards its goal of defining an economic diamond deposit on the Kennady North Project.”


Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet

logo
Diamond World
www.diamondworld.net