Karelian Diamond Res. Update on Planned Exploration Programmes

 
TIDMKDR 
 
Karelian Diamond Resources plc 
                    ("Karelian Diamonds" or the "Company") 
 
                                 24 April 2023 
 
                   Update On Planned Exploration Programmes 
 
·    Diamond exploration in the Kuhmo region of Finland 
 
·    Nickel, copper and platinum group metals exploration programme in Northern 
Ireland 
 
·    Initial work to commence at Lahtojoki 
 
Karelian Diamond Resources plc (AIM: KDR) is pleased to announce that 
exploration programmes are planned to commence in the Kuhmo region of Finland 
for diamonds and in Northern Ireland for nickel, copper and platinum group 
metals. 
 
Finland 
 
Following the discovery of a green diamond in-till by the Company during 
kimberlite indicator mineral ("KIM") sampling in the Kuhmo region of Eastern 
Finland (announced by the Company on 31 January 2017) further KIM sampling 
undertaken in the area encountered highly anomalous kimberlite indicators, 
including G9 and G10 garnets, which are known indicators of diamond 
prospectivity. 
 
Follow up drilling resulted in the discovery of a kimberlite dyke, confirming 
the presence of kimberlites in the immediate area, (announced by the Company on 
6 December 2018). Subsequently a detailed high-resolution drone based magnetic 
survey was carried out by Radai Oy in which eighty two flight lines (250km) 
were flown in the area (announced by the Company on 22 June 2021). 
 
Geological interpretation of this drone based aeromagnetic data by Jeremy S. 
Brett International Consulting Ltd identified twenty three kimberlite targets 
up-ice of the green diamond discovery. The kimberlite targets were reported as 
ranging from 0.5 hectare to 4.7 hectares in size and "with a high ratio of 
highly ranked targets" based on their magnetic signature (announced by the 
Company on 7 June 2022). 
 
A systematic drilling and excavation programme is planned for the coming 
months, to follow up on and test these Kimberlite targets for the presence of 
diamonds. 
 
The exploration programme in Kuhmo will be carried out in tandem with initial 
work on the Company's mining concession area at Lahtojoki, which will include 
environmental studies and an updated technical and financial assessment to be 
followed by further drilling and bulk sampling, particularly in relation to the 
percentage of pink diamonds present in the deposit. 
 
Ireland 
 
Following the discovery by the Company, during a stream sediment sampling 
programme on its KDR-1 Northern Ireland Licence, of indicator minerals, 
including anomalous amounts of chromite, forsterite olivine and magmatic 
massive sulphide indicator minerals ("MMSIMs") which are indicative of the 
possible presence of Nickel-Copper-Platinum mineralisation, the Company applied 
for, and was granted, two additional Mineral Prospecting Licences in Northern 
Ireland (announced by the Company on 6 October 2022). 
 
The exploration targets on these three licences are based on the mafic and /or 
ultramafic dyke sill complexes in the area which are similar to those that are 
known to host the world class Norilsk Nickel - Copper - Platinum deposits. 
 
A stream sediment sampling programme for Nickel-Copper-Platinum indicator 
minerals on the newly acquired licences is planned to commence shortly. 
 
Updates on the diamond programme in Finland, the development programme at 
Lahtojoki and the Nickel-Copper-Platinum group metals exploration programme in 
Northern Ireland, will be made in due course. 
 
Professor Richard Conroy, Chairman of Karelian Diamond Resources plc, 
commented: 
 
"I am delighted that both these exciting exploration programmes are planned to 
commence shortly and we look forward to seeing the results as they come in. 
The work, in both cases, will give us additional information and in relation to 
Finland could include the discovery of diamonds in one or more of the 
kimberlite targets. I also look forward very much to work being initiated at 
Lahtojoki, particularly in relation to the highly sought after and valued pink 
diamonds." 
 
Further Information: 
 
Karelian Diamond Resources plc 
Professor Richard Conroy, Chairman                         [phone] 
 
Allenby Capital Limited (Nomad) 
Nick Athanas / Nick Harriss                                [phone] 
 
First Equity Limited (Broker) 
Jason Robertson                                            [phone] 
 
Lothbury Financial Services 
Michael Padley                                             [phone] 
 
Hall Communications 
Don Hall                                                   [phone] 
 
http://www.kareliandiamondresources.com 
 
 
 
END 
 
 

(END) Dow Jones Newswires

April 24, 2023 02:13 ET (06:13 GMT)