Karelian Diamond Resources Plc Update on sample results and diamond exploration programme in Kuhmo region

 
TIDMKDR 
 
This announcement contains inside information for the purposes of Regulation 11 
of the Market Abuse (amendment) (EU Exit) Regulations 2019/310. 
 
[Description: Description: Karelian] 
 
Karelian Diamond Resources plc 
 
("Karelian Diamonds" or "the Company") 
 
19 December 2023 
 
SEARCH FOR SOURCE OF THE KUHMO GREEN DIAMOND NARROWED 
 
  · Positive results from basal till samples taken up-ice from green diamond 
discovery site 
 
  · Garnets identified in two sample locations which suggests close proximity to 
kimberlite source 
 
Karelian Diamond Resources plc ("Karelian Diamonds") (AIM: KDR) is pleased to 
announce that the Company has received results, from Overburden Drilling 
Management Limited ("ODM") in Canada, in relation to basal till samples 
excavated at various target locations in the Kuhmo region of Finland. The 
results suggest that two of the sample locations may be close to the source of 
the green diamond previously discovered by the Company (as announced by the 
Company on 31 January 2017). ODM is a specialised laboratory for testing 
diamondiferous kimberlite indicator minerals. 
 
The targets sampled were up-ice from the location of the green diamond discovery 
along a kimberlite indicator mineral train and were identified by geophysics and 
kimberlitic indicator analysis. 
 
Samples from the two locations returned anomalous concentrations of thirty-six 
purple to red peridotitic garnets (G9/10 Cr-pyropes garnets). Six of the 
peridotitic garnets were in the large range (0.5 to 1.0mm size). Partial 
alteration mantles, otherwise referred to as "Kelyphitic rims", were present on 
the peridotitic garnets. Kelyphitic rims are fragile and tend not be preserved 
on the peridotitic garnets if they have been transported any large distance. 
 
The presence of G9/10 peridotitic garnets indicates that the material sampled 
has been derived from the diamond stability field where diamonds are formed. 
 
The number and size of the peridotitic garnets, and the presence of Kelyphitic 
rims, suggests close proximity to a kimberlite source, from which the green 
diamond may have been derived. 
 
Orange mantle garnets were also present in samples from these two locations. 
Orange mantle garnets can include eclogitic pyrope almandine garnets (G3) which, 
if present, are significant, as they tend to be associated with richer diamond 
grades. These orange mantle garnets will be tested in due course to establish 
whether or not eclogitic mantle materials are present. 
 
Kimberlite indicator minerals were absent in locations further up-ice from the 
two anomalous locations. This, together with geophysical data, suggests that the 
kimberlite indicator mineral train, up-ice from the green diamond discovery, 
ends at an electromagnetic geophysical anomaly within which the kimberlite 
source of the green diamond may be located. 
 
Given that indicator minerals were not present in samples further up ice, the 
positive sample result provides further evidence that the green diamond 
kimberlite source is closer to and within our targeted area. 
 
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 and Gas Companies issued by 
the London Stock Exchange in respect of AIM Companies, which outlines standards 
of disclosure for mineral projects. 
 
Further results will be issued as the programme progresses. 
 
Professor Richard Conroy, Chairman, Karelian Diamond Resources PLC commented: 
 
"These results are most encouraging and are a major step forward in the 
Company's diamond exploration programme, in the highly prospective Kuhmo region. 
They also suggest that we may be getting very close to locating the source of 
the green diamond which the Company discovered." 
 
Further Information: 
 
Karelian Diamond Resources plc       [phone] 
 
Professor Richard Conroy, Chairman 
Allenby Capital Limited (Nomad)      [phone] 
 
Nick Athanas / Nick Harriss 
Peterhouse Capital Limited (Broker)  [phone] 
 
Lucy Williams / Duncan Vasey 
Lothbury Financial Services          [phone] 
 
Michael Padley 
Hall Communications                  [phone] 
 
Don Hall 
 
http://www.kareliandiamondresources.com 
 
 
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(END) Dow Jones Newswires

December 19, 2023 02:01 ET (07:01 GMT)