Karelian Diamond Res. Diamond Exploration Permit Over Lahtojoki South
10 January 2020 - 1:40AM
UK Regulatory
TIDMKDR
Karelian Diamond Resources plc
("Karelian Diamonds" or "the Company")
09 January 2020
DIAMOND EXPLORATION PERMIT OVER LAHTOJOKI SOUTH
* Diamond Exploration Permit over Lahtojoki South close to Lahtojoki Diamond
Deposit
* Exploration Permit includes Area in Which Kimberlite Boulders have been
Discovered
* These Kimberlite Boulders are Believed to be Derived from an Undiscovered
Kimberlite
Karelian Diamond Resources plc ("Karelian Diamonds") (AIM: KDR), is pleased to
announce that, on 8 January 2020, it was informed that the Company's Lahtojoki
South ore exploration permit, granted in January 2018, has become legally
valid. As a result the Company can now carry out its exploration plans for the
permit area.
The Lahtojoki South exploration permit, which covers 28.8 hectares, is of
particular interest to Karelian Diamonds as it is situated close to the
Lahtojoki diamond deposit, in the Kaavi region of Finland, over which the
Company has a mining concession. Kimberlites are known to occur in clusters.
The exploration permit granted includes the area in which kimberlite boulders
were discovered, to the south west of the Lahtojoki diamond deposit, and
extends over 400m up-ice from the boulder discovery site.
The nature of the boulder material (an altered hypabyssal kimberlite, announced
12 January 2017) shows that it is not derived from the Lahtojoki kimberlite (a
diatreme filled with tuffisitic or tuffisitic breccia kimberlite).
This suggests, along with their location, that the boulders are from an
undiscovered kimberlite up ice from their initial discovery site.
The Company commissioned a Preliminary Economic Assessment on the Lahtojoki
Diamond deposit which highlighted the economic viability of the deposit
(announced by the Company on 1 August 2017).
Professor Richard Conroy, Chairman, Karelian Diamond Resources plc commented:
"I am very pleased that this exploration permit near to the Lahtojoki diamond
deposit has become legally valid, enabling the Company to proceed with its
exploration plans for the area. The possibility of a new diamondiferous
kimberlite discovery close by further increases the overall attractiveness of
the Lahtojoki Diamond Deposit."
Further Information:
Karelian Diamond Resources plc
Professor Richard Conroy, Chairman +353-1-479-6180
Allenby Capital Limited (Nomad)
Nick Athanas / Nick Harriss +44-20-3328-5656
Brandon Hill Capital (Broker)
Jonathan Evans +44-20-3463-5000
Lothbury Financial Services
Michael Padley +44-20-3290-0707
Hall Communications
Don Hall +353-1-660-9377
http://www.kareliandiamondresources.com
END
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