Karelian Diamond
Resources plc
(“Karelian Diamonds” or “the
Company”)
14 November 2017
PROMISING NEW
EXPLORATION DATA
-
Electron Microprobe Results Indicate
Increasing Proximity to the Diamond Source
-
Results Further Increase the Diamond
Prospectivity
-
Thirty Positive Mantle-derived Garnet
Minerals Recovered (4 “G10” and 26 “G9”)
Karelian Diamond Resources plc (“Karelian Diamonds”) (AIM: KDR),
is pleased to announce positive Electron Microprobe results on the
three samples showing high indicator mineral counts, as reported on
25th September 2017.
These results indicate not only that the likely diamond source
is very close to the current exploration area, but also that the
potential of the kimberlite source to host diamonds is higher than
previously indicated.
The new results show a significant increase in counts of
mantle-derived garnets: thirty grains in 135kg of samples versus
twenty-six grains in the previous 990kg of samples taken in the
diamond target area. Of the thirty new garnet grains eight are also
in the larger size range (0.5 to 1.0mm) compared with only one of
the twenty-six previous garnet grains; an increase in grain size is
indicative of a shorter transport distance from source.
Mantle-derived garnets tend to be formed at similar pressures and
temperatures as diamonds.
The ratio of harzburgitic or "G10" garnet grains, known
indicators of diamond prospectivity, versus lherzolitic "G9" grains
has also increased two-fold, from 6.2% in previous sampling to over
13% (4 of 30 grains) in present sampling.
These new samples yield 53% of the total mantle derived garnets
(G10’s + G9’s) from only 12% of the total material sampled to date
in this area (135kg of a total of 1,125kg). The concentration of
total garnet grains in the new samples has increased to 22.2 per
100kg from just 2.1 per 100kg previously, an order of magnitude
increase which indicates increasing proximity to the kimberlite
source.
These results are supported by observations of other indicator
minerals. The kimberlitic chromite grain counts also increased from
2.3 per 100kg to 7.4 per 100kg, indicating increasing proximity to
source and significantly the percentage of chromite grains lying
within the diamond inclusion field, indicating their growth in
association with diamonds, increases from 13% (3 of 23 grains) to
70% (7 of 10 grains) also indicating increasing diamond
prospectivity.
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:
“We appear to be getting closer and
closer to the source of the diamond which we discovered in the
area, in January, and this source appears to have increasing
diamond prospectivity.”
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 |
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