Karelian Diamond Res. Kimberlite Boulder Derived From Undiscovered Kimberlite
January 12 2017 - 1:00AM
UK Regulatory
TIDMKDR
The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 ("MAR").
Karelian Diamond Resources plc
("Karelian" or "the Company")
12 January 2017
RECENTLY DISCOVERED KIMBERLITE BOULDER IS DERIVED FROM AN UNDISCOVERED
KIMBERLITE
* Analysis Of The Recently Discovered Kimberlite Boulder Shows Clearly It Is
Not Derived From The Lahtojoki Diamondiferous Kimberlite Pipe
* No Kimberlites Are Known In An Up Ice Direction From The Discovery Site
* Thin Section Of The Boulder Proves The Sample To Be An Altered Hypabyssal
Kimberlite.
* Previous Indicator Mineral Compositions Indicate Diamond-Bearing Mantle Has
Been Sampled.
Karelian Diamond Resources plc ("Karelian") (AIM: KDR, ESM: KDRI), the diamond
exploration company focused on Finland, is pleased to announce that it has
received further results and a report from the Geological Survey of Finland
("GTK") on the kimberlite boulder discovery made 2.5km SW of the Lahtojoki
Diamond Deposit (announced on 9 November 2016), which shows that this boulder
is derived from an undiscovered kimberlite.
Thin section and field emission scanning electron microscopy (FESEM) work
provides textural and elemental information of the boulder sample. The thin
section of the boulder proves the sample to be an altered hypabyssal
kimberlite.
The location of the boulder could have potentially been the result of an older
SSW ice flow direction transporting a block of material from the Lahtojoki
kimberlite to the boulder discovery location. However, given that Lahtojoki is
a diatreme filled with tuffisitic or tuffisitic breccia kimberlite, it is clear
this boulder material is not derived from the Lahtojoki pipe.
The most likely explanation for the source of this boulder is that it is
derived from an undiscovered kimberlite up ice from the initial discovery site.
Previous work on the mantle-derived indicator mineral compositions from the
boulder material indicates a similar Archean diamond-bearing mantle has been
sampled by this kimberlite.
This release has been approved by Kevin McNulty PGeo, who is a member of the
Company's technical staff and holds a BSc/MSc in Geology and Remote Sensing, in
accordance with the guidance note for Mining, Oil & Gas Companies issued by the
London Stock Exchange in respect of AIM Companies, which outlines standards of
disclosure for mineral projects.
Professor Richard Conroy, Chairman, Karelian Diamond Resources plc commented:
"This information offers the prospect of there being a new additional
undiscovered kimberlite in the vicinity of the Lahtojoki Mining Permit which
has a mineral composition indicating that it has sampled the diamond-bearing
mantle. This is very exciting indeed and, as hoped, significantly increases the
attractiveness of the Lahtojoki Diamond Deposit."
Further Information:
Professor Richard Conroy, Chairman, Karelian Diamond Tel: +353-1-661-8958
Resources plc
David Hart / James Thomas / Nick Harriss, Allenby Tel:
Capital Limited (Nomad) +44-20-3328-5656
Ger Heffernan / Jan Fitzell, IBI Corporate Finance Tel: +353-7662-34800
Limited (ESM Adviser)
Jon Belliss / Elliot Hance, Beaufort Securities Tel:
Limited (Broker) +44-20-7382-8300
Michael Padley, Lothbury Financial Services Limited Tel:
+44-20-3290-0707
Don Hall, Hall Communications Tel: +353-1-660-9377
www.kareliandiamondresources.com
END
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