Karelian Diamond Res. Promising New Exploration Data
14 November 2017 - 6:00PM
UK Regulatory
TIDMKDR
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 Tel: +353-1-479-6180
Resources plc
Virginia Bull / James Thomas / Nick Harriss, Allenby Tel:
Capital Limited (Nomad) +44-20-3328-5656
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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