Karelian Diamond Res. New Kimberlite Source Indicated in Target
September 25 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")
25 September 2017
NEW KIMBERLITE SOURCE INDICATED IN DIAMOND DISCOVERY TARGET
* High Kimberlite Indicator Mineral Count
* Results Suggest Sample is within a Couple of Hundred Metres of a New
Kimberlite Source
Karelian Diamond Resources plc ("Karelian") (AIM: KDR, ESM: KDRI), is pleased
to announce that it has received results for 22 samples from the ODM Laboratory
*, that show high concentrations of kimberlite indicator minerals ("KIMs").
They were taken in the Kuhmo region in the target area around where the team
previously discovered a diamond in a till sample, a rare event which was
reported on 31 January 2017.
One of the new samples produced 36 KIMs which comprised 10 purple to red
peridotitic garnets (G9/10 Cr-pyrope), 19 chromite grains and one Fosterite
grain in the 0.25 to 0.5 mm size range, plus three purple to red peridotitic
garnet (G9/10 Cr-pyrope) and three chromite grains in the 0.5 to 1.0 mm size
range. This suggests that the sample is within a couple of hundred metres of a
kimberlite source. Two further samples down ice from this sample also had high
KIMs, 20 and 22 respectively.
The anomaly has also been closed off 500m in an up-ice direction from the
sample containing the 36 KIMs.
The diamond discovered in January was in one of seven samples from the Kuhmo
region of Eastern Finland. It is a clear, pale green dodecahedron and measures
0.7 x 0.75 x 0.7 mm.
*ODM Laboratory holds a Certificate of Authorization from the Association of
Professional Geoscientists of Ontario and is used by diamond explorers in all
parts of Canada and the world. During the Canadian diamond rush of the 1990s
and early 2000s, ODM contributed to many kimberlite discoveries by processing
and logging more than 50,000 samples.
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 at these results, they confirm the prospect of another new
kimberlite discovery by our team in the area where we discovered that beautiful
green diamond we announced in January."
Further Information:
Professor Richard Conroy, Chairman, Karelian Diamond Tel: +353-1-479-6180
Resources plc
Virginia Bull / 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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