The information contained within this
announcement is deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulations (EU)
No. 596/2014 ("MAR").
Karelian Diamond
Resources plc
(“Karelian” or “the Company”)
19 September 2016
DIAMONDIFEROUS
RESOURCE POTENTIAL IN AREA SURROUNDING LAHTOJOKI
-
Geophysical and Kimberlite Indicator
Mineral Anomalies Outlined
-
Additional Diamondiferous Resource
Potential in the Area
-
Claim Reservation Over the Area
Surrounding Lahtojoki Mining Permit Submitted
Karelian Diamond Resources plc (“Karelian”) (AIM: KDR, ESM:
KDRI), the diamond exploration company focused on Finland, is pleased to announce that it has
outlined a series of high interest geophysical and kimberlite
indicator mineral anomalies in the immediate area of its Lahtojoki
property over which, in June, Karelian received a Diamond Mining
Permit. These anomalies suggest the presence of further
diamondiferous resource potential in this area.
The anomalies were outlined following an analysis by the Company
of the extensive geophysical data acquired, including image
processed magnetic and electromagnetic data together with
compilation maps of previous kimberlite indicator mineral till
sampling information in the area. The previous drilling and
bulk sample information indicated that the Lahtojoki diamondiferous
pipe has the potential to become a profitable open pit diamond
mine.
The presence of additional diamond resource potential in the
area adjacent to Lahtojoki would, if confirmed, further enhance the
financial and technical attractiveness of the Lahtojoki diamond
deposit.
The Company has therefore submitted an application for a Claim
Reservation over the area surrounding its Lahtojoki Mining Permit
area.
This release has been approved by Michael Brennan (MSc., SAIMM), who is a
Consultant to Karelian Diamond Resources plc, 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:
“I am delighted that interpretation of geophysical and
kimberlite indicator mineral data in the area surrounding our
Lahtojoki Mining Permit area suggests the possibility of the
discovery of new diamondiferous resources in the immediate vicinity
of the known diamond deposit at Lahtojoki. This, if proven,
will further enhance the prospects for the proposed diamond
mine.”
Further Information:
Professor Richard
Conroy, Chairman, Karelian Diamond Resources plc |
Tel: +353-1-661-8958 |
David Hart /
James Thomas / Nick Harriss, Allenby Capital Limited
(Nomad) |
Tel: +44-20-3328-5656 |
Ger Heffernan / Jan
Fitzell, IBI Corporate Finance Limited (ESM Adviser) |
Tel: +353-7662-34800 |
Jon Belliss /
Elliot Hance, Beaufort Securities Limited (Broker) |
Tel: +44-20-7382-8300 |
Michael Padley,
Lothbury Financial Services Limited |
Tel: +44-20-3290-0707 |
Don Hall, Hall
Communications |
Tel: +353-1-660-9377 |
www.kareliandiamondresources.com