Karelian Diamond Res. Kimberlite Boulder Derived From Undiscovered Kimberlite

 
TIDMKDR 
 
The information contained within this announcement is deemed by the Company to 
constitute inside information as stipulated under the Market Abuse Regulations 
                          (EU) No. 596/2014 ("MAR"). 
 
                        Karelian Diamond Resources plc 
 
                         ("Karelian" or "the Company") 
 
                                                                12 January 2017 
 
    RECENTLY DISCOVERED KIMBERLITE BOULDER IS DERIVED FROM AN UNDISCOVERED 
                                  KIMBERLITE 
 
  * Analysis Of The Recently Discovered  Kimberlite Boulder Shows Clearly It Is 
    Not Derived From The Lahtojoki Diamondiferous Kimberlite Pipe 
 
  * No Kimberlites Are Known In An Up Ice Direction From The Discovery Site 
 
  * Thin Section Of The Boulder Proves The Sample To Be An Altered Hypabyssal 
    Kimberlite. 
 
  * Previous Indicator Mineral Compositions Indicate Diamond-Bearing Mantle Has 
    Been Sampled. 
 
 
 
Karelian Diamond Resources plc ("Karelian") (AIM: KDR, ESM: KDRI), the diamond 
exploration company focused on Finland, is pleased to announce that it has 
received further results and a report from the Geological Survey of Finland 
("GTK") on the kimberlite boulder discovery made 2.5km SW of the Lahtojoki 
Diamond Deposit (announced on 9 November 2016), which shows that this boulder 
is derived from an undiscovered kimberlite. 
 
Thin section and field emission scanning electron microscopy (FESEM) work 
provides textural and elemental information of the boulder sample. The thin 
section of the boulder proves the sample to be an altered hypabyssal 
kimberlite. 
 
The location of the boulder could have potentially been the result of an older 
SSW ice flow direction transporting a block of material from the Lahtojoki 
kimberlite to the boulder discovery location. However, given that Lahtojoki is 
a diatreme filled with tuffisitic or tuffisitic breccia kimberlite, it is clear 
this boulder material is not derived from the Lahtojoki pipe. 
 
The most likely explanation for the source of this boulder is that it is 
derived from an undiscovered kimberlite up ice from the initial discovery site. 
 
Previous work on the mantle-derived indicator mineral compositions from the 
boulder material indicates a similar Archean diamond-bearing mantle has been 
sampled by this kimberlite. 
 
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: 
 
"This   information offers the prospect of there being a new additional 
undiscovered kimberlite in the vicinity of the Lahtojoki Mining Permit which 
has a mineral composition indicating that it has sampled the diamond-bearing 
mantle. This is very exciting indeed and, as hoped, significantly increases the 
attractiveness of the Lahtojoki Diamond Deposit." 
 
Further Information: 
 
Professor Richard Conroy, Chairman, Karelian Diamond           Tel: [phone] 
Resources plc 
 
David Hart / James Thomas / Nick Harriss, Allenby              Tel: 
Capital Limited (Nomad)                              [phone] 
 
Ger Heffernan / Jan Fitzell, IBI Corporate Finance             Tel: [phone] 
Limited (ESM Adviser) 
 
Jon Belliss / Elliot Hance, Beaufort Securities                Tel: 
Limited (Broker)                                     [phone] 
 
Michael Padley, Lothbury Financial Services Limited            Tel: 
                                                     [phone] 
 
Don Hall, Hall Communications                                  Tel: [phone] 
 
www.kareliandiamondresources.com 
 
 
 
END 
 

(END) Dow Jones Newswires

January 12, 2017 02:00 ET (07:00 GMT)