Karelian Diamond
Resources plc
(“Karelian” or “the Company”)
28 June 2017
DIAMOND
EXPLORATION CLAIM RESERVATION GRANTED IN AREA SURROUNDING LAHTOJOKI
MINING CONCESSION
- Claim Reservation Granted Covers An Area Up-Ice Of Previous
Kimberlite Boulder Discovery
- Claim Reservation Is Over An Area Which May Contain As Yet
Undiscovered Kimberlite
Karelian Diamond Resources plc (“Karelian”) (AIM: KDR, ESM:
KDRI), is pleased to announce that it has today been informed that
TUKES (The Finnish Mining Authority) has granted Karelian an
exploration Claim Reservation in the Kaavi region of Finland.
Consideration of a series of geophysical and kimberlite
indicator mineral anomalies led to the decision to apply for a
Claim Reservation in the area adjacent to the Company’s Lahtojoki
mining concession, announced on 19 September
2016.
The Claim Reservation covers the up-ice area of the new
kimberlite boulder discovery (previously announced on 9 November 2016 and 12
January 2017) and totals an area of 8.67Km².
Petrographic and mineral chemistry studies undertaken by the
Geological Survey of Finland
(“GTK”) show clearly that the boulder is not derived from the
Lahtojoki diamondiferous kimberlite pipe but derived from an as yet
undiscovered kimberlite in the area.
A Claim Reservation gives exclusive rights to apply for
exploration claims within the reservation area.
Professor Richard Conroy, Chairman, Karelian Diamond
Resources plc commented:
“I am delighted that Karelian has
been granted this Claim Reservation which extends the area around
the mining concession and could potentially lead to a new
kimberlite discovery in time, given that the boulder comes from a
yet undiscovered pipe.”
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.
Further Information:
Professor Richard
Conroy, Chairman, Karelian Diamond Resources plc |
Tel: +353-1-479-6180 |
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