Karelian Diamond Resources Plc Exploration Programme in Northern Ireland

 
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      [phone] 
 
Professor Richard Conroy, Chairman 
Allenby Capital Limited (Nomad)     [phone] 
 
Nick Athanas / Nick Harriss 
First Equity Limited (Broker)       [phone] 
 
Jason Robertson 
Lothbury Financial Services         [phone] 
 
Michael Padley 
Hall Communications                 [phone] 
 
Don Hall 
 
http://www.kareliandiamondresources.com 
 
 
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(END) Dow Jones Newswires

July 26, 2023 02:00 ET (06:00 GMT)