Karelian Diamond Res. Extension of Riihivaara Kimberlite Body
March 16 2017 - 3:00AM
UK Regulatory
TIDMKDR
The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
("MAR"). Upon publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in the public
domain.
Karelian Diamond Resources plc
("Karelian" or "the Company")
16 March 2017
EXTENSION OF RIIHIVAARA KIMBERLITE BODY
* 100 Metre Extension to the North West Shown by High Concentrations of
Kimberlite Indicator Minerals In Till Samples
* Up-Ice Samples Indicate that Riihivaara Kimberlite Body is Probable Source
of the Kimberlite Indicator Minerals
* Riihivaara Kimberlite Body Remains Open to North West, South East and to
Depth
Karelian Diamond Resources plc ("Karelian") (AIM: KDR, ESM: KDRI), is pleased
to announce a 100 metre extension to the North West of the Riihivaara
kimberlite body. The extension was indicated by the results of a series of till
samples taken by the Geological Survey of Finland ("GTK") on behalf of the
Company.
Samples taken along trend to the North West of the known kimberlite body showed
high concentrations of Kimberlite Indicator Minerals ("KIMs") indicating a
further 100 metre North Western extension to the known 250 metre kimberlite
body extent. The Riihivaara kimberlite body remains open in both directions
along strike and to depth.
The KIMs included 47 purple to red peridotitic garnets (G9/10 Cr-pyrope), 18
orange mantle garnets and 64 chromite grains, in the 0.25 to 0.5 mm size range;
plus 2 purple to red peridotitic garnets (G9/10 Cr-pyrope), 4 orange mantle
garnets and 5 chromite grains, in the 0.5 to 1.0 mm size range.
The results of samples collected in an up-ice direction from the kimberlite
body returned low counts of chromite grains indicating that the Riihivaara
kimberlite body is the probable source of the KIMs.
All samples will undergo further analysis by scanning electron microscopy to
classify them.
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 & 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:
"This further extension of the Riihivaara kimberlite body taken in conjunction
with the recent discovery of a diamond in a till sample adds to the diamond
prospectivity of the Kuhmo region"
Further Information:
Professor Richard Conroy, Chairman, Karelian Diamond Tel: +353-1-661-8958
Resources plc
Virginia Bull / James Thomas / Nick Harriss, Allenby Tel: +44-20-3328-5656
Capital Limited (Nomad)
Ger Heffernan / Jan Fitzell, IBI Corporate Finance Tel: +353-7662-34800
Limited (ESM Adviser)
Jon Belliss / Elliot Hance, Beaufort Securities Tel: +44-20-7382-8300
Limited (Broker)
Michael Padley, Lothbury Financial Services Limited Tel: +44-20-3290-0707
Don Hall, Hall Communications Tel: +353-1-660-9377
www.kareliandiamondresources.com
END
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