Karelian Diamond Res. Promising New Exploration Data

 
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: [phone] 
Resources plc 
 
Virginia Bull / James Thomas / Nick Harriss, Allenby           Tel: 
Capital Limited (Nomad)                              [phone] 
 
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

November 14, 2017 02:00 ET (07:00 GMT)