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").
15 February 2017
Karelian Diamond
Resources plc
(“Karelian” or “the Company”)
DIAMOND DISCOVERY:
TECHNICAL REPORT
- Diamond is a Dodecahedron 0.8mm in Diameter
- Sparkling Clear Crystal: Colour Greenish
Karelian Diamond Resources plc (“Karelian”) (AIM: KDR, ESM:
KDRI), is pleased to announce that it has received a technical
report by the Geological Survey of Finland (“GTK”) on its diamond discovery in
Eastern Finland that was announced
on 31 January 2017.
The Report is by Dr Kari A.
Kinnunen, a diamond specialist with the GTK, with additional
comments by Dr Hugh O’Brien, senior
diamond exploration geologist with the GTK.
The stone, which is described by Dr Kinnunen as being an
“excellent diamond”, is 0.8mm in diameter, forming a
12-sided, curved and twinned dodecahedron. It is a sparkling clear
crystal with clean faces. The colour is greenish.
Surface textures (microdisks and hillocks) indicate slight
resorption of the diamond during transport in the kimberlite magma
from its ultimate source 150km or deeper in the Earth, to the
Earth’s surface and could indicate hypabyssal kimberlite-type
magmatic rock.
Dr. O’Brien comments “The discovery of a diamond in a till
exploration sample is an extremely rare event. Such a significant
result identifies this new target as a high priority for follow-up
work.”
An image of the diamond which can be viewed on the Company
website:
http://www.kareliandiamondresources.com/
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:
“I am delighted to receive the
technical report from the GTK on, to quote Dr K Kinnunen, this
excellent diamond. This is a stunning discovery.”
Further Information:
| Professor Richard
Conroy, Chairman, Karelian Diamond Resources plc |
Tel:
+353-1-661-8958 |
| Virginia Bull /
James Thomas / Nick Harriss, Allenby Capital Limited
(Nomad) |
Tel:
+44-20-3328-5656 |
| Ger Heffernan / Jan
Fitzell, IBI Corporate Finance Limited (ESM Adviser) |
Tel:
+353-7662-34800 |
| Jon Belliss /
Elliot Hance, Beaufort Securities Limited (Broker) |
Tel:
+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