In early April 2019, Mountain Province Diamonds (TSX: MPVD; NASDAQ; MPVD) updated the resource estimate for its Faraday 2 kimberlite – one of several kimberlites at its Kennady North diamond project in the Northwest Territories. This is the first update to the Faraday 2 kimberlite resource since 2017.
The Faraday 2 kimberlite now contains 2.07 million inferred tonnes grading 2.63 carats per tonne for 5.45 million carats. The updated resource shows a 49% increase in tonnage, 17% in grade and 74% in carats. The average value per carat has also increased 25% over the 2017 value, from US$112 per carat to US$140 per carat.
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