Karelian Diamond Resources Plc Exploration Programme in Northern Ireland
26 July 2023 - 4:00PM
UK Regulatory
TIDMKDR
[Description: Description: Karelian]
Karelian Diamond Resources plc
("Karelian Diamonds" or "the Company")
26 July 2023
NICKEL-COPPER-PLATINUM EXPLORATION PROGRAMME IN NORTHERN IRELAND
· Stream sediment samples collected across three licence areas
· Samples dispatched for mineral indicator analysis
Karelian Diamond Resources plc ("Karelian Diamonds") (AIM: KDR), is pleased to
announce that a Nickel-Copper-Platinum Group Metals exploration programme has
commenced in Northern Ireland. A series of stream sediment samples have been
collected across three licences and despatched for analysis to Overburden
Drilling Management Limited in Canada ("ODM").
The exploration programme follows the discovery of anomalous amounts of chromite
and forsterite olivine and metamorphosed / magmatic massive sulphide Indicator
minerals ("MMSIM"), suggestive of the presence of Nickel-Copper-Platinum
mineralisation, during the course of a stream sediment sampling programme for
diamonds on a prospecting licence in Northern Ireland (announced by the Company
on 10 March 2022).
A technical review based on geological and geochemical data, including the
Northern Ireland TELLUS survey, noted soil sample results of up to 765 ppb
Platinum (Pt), 394 ppb Palladium (Pd) and 123 ppb Gold (Au). Mafic and/or
ultramafic dyke-sill complexes are also present in the area, further indicating
the possible presence of Nickel-Copper-Platinum mineralisation. These are
similar to those hosting the world class Noril'sk Nickel-Copper-Platinum deposit
in Russia.
As a result, two adjacent prospecting licences were acquired, giving the Company
a total exploration area in Northern Ireland of approximately 750 km2 (announced
by the Company on 6 October 2022).
Thirty three stream sediment samples have been collected across the three
licences. The samples have an overall weight of just over 600Kg and an average
weight of c18kg per sample. (See Table 1).
+-------+-----------------+
|Licence|Number of samples|
+-------+-----------------+
|KDR1-19|14 |
+-------+-----------------+
|KDR2-22|9 |
+-------+-----------------+
|KDR3-22|10 |
+-------+-----------------+
Table 1. Stream sediment samples over licence areas.
The samples have been despatched to ODM in Canada for mineral concentration,
picking and analysis for indicator mineralogy using ODMs trade-marked MMSIM
technique. ODM has been a key contributor to numerous discoveries worldwide,
including the Voisey's Bay Ni-Cu-Co deposit in Labrador, Canada.
The exploration programme for Nickel-Copper-Platinum Group Metals in Northern
Ireland continues in tandem with the Company's diamond exploration programme in
the Kuhmo region of Finland.
Professor Richard Conroy, Chairman, Karelian Diamond Resources plc commented:
"I am very pleased that the Company's exploration programme for Nickel-Copper
-Platinum Group minerals over the three licences which we now hold in Northern
Ireland is underway. Combined with the ongoing work in Finland, that is focussed
on the discovery of a major diamond deposit, this new opportunity adds to the
overall potential of the Company."
Further Information:
Karelian Diamond Resources plc +353-1-479-6180
Professor Richard Conroy, Chairman
Allenby Capital Limited (Nomad) +44-20-3328-5656
Nick Athanas / Nick Harriss
First Equity Limited (Broker) +44-20-7330-1883
Jason Robertson
Lothbury Financial Services +44-20-3290-0707
Michael Padley
Hall Communications +353-1-660-9377
Don Hall
http://www.kareliandiamondresources.com
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