The information contained within this
announcement is deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulation
(“MAR”). Upon publication of this announcement via a
Regulatory Information Service (“RIS”), this inside information is
now considered to be in the public domain.
Karelian Diamond Resources
plc
(“Karelian” or “the Company”)
16 March 2017
EXTENSION OF
RIIHIVAARA KIMBERLITE BODY
- 100 Metre Extension to the North West Shown by High
Concentrations of Kimberlite Indicator Minerals In Till
Samples
- Up-Ice Samples Indicate that Riihivaara Kimberlite Body is
Probable Source of the Kimberlite Indicator Minerals
- Riihivaara Kimberlite Body Remains Open to North West, South
East and to Depth
Karelian Diamond Resources plc (“Karelian”) (AIM: KDR, ESM:
KDRI), is pleased to announce a 100 metre extension to the North
West of the Riihivaara kimberlite body. The extension was indicated
by the results of a series of till samples taken by the Geological
Survey of Finland (“GTK”) on
behalf of the Company.
Samples taken along trend to the North West of the known
kimberlite body showed high concentrations of Kimberlite Indicator
Minerals (“KIMs”) indicating a further 100 metre North Western
extension to the known 250 metre kimberlite body extent. The
Riihivaara kimberlite body remains open in both directions along
strike and to depth.
The KIMs included 47 purple to red peridotitic garnets (G9/10
Cr-pyrope), 18 orange mantle garnets and 64 chromite grains, in the
0.25 to 0.5 mm size range; plus 2 purple to red peridotitic
garnets (G9/10 Cr-pyrope), 4 orange mantle garnets and 5 chromite
grains, in the 0.5 to 1.0 mm size range.
The results of samples collected in an up-ice direction from the
kimberlite body returned low counts of chromite grains indicating
that the Riihivaara kimberlite body is the probable source of the
KIMs.
All samples will undergo further analysis by scanning electron
microscopy to classify them.
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 further extension of the
Riihivaara kimberlite body taken in conjunction with the recent
discovery of a diamond in a till sample adds to the diamond
prospectivity of the Kuhmo region”
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