Share Name Share Symbol Market Type Share ISIN Share Description
Karelian Diamond Resources Plc LSE:KDR London Ordinary Share IE00BD09HK61 ORD EUR0.00025
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 3.30 3.20 3.40 3.30 3.30 3.30 0.00 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -0.4 -1.7 - 1

Karelian Diamond Res. Diamond Exploration Permit Over Lahtojoki South

09/01/2020 2:40pm

UK Regulatory (RNS & others)


 
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 
 

(END) Dow Jones Newswires

January 09, 2020 09:40 ET (14:40 GMT)

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