Karelian Diamond Res. Claim reservation granted in area surrounding Lahtojoki
June 28 2017 - 2:00AM
UK Regulatory
TIDMKDR
Karelian Diamond Resources plc
("Karelian" or "the Company")
28 June 2017
DIAMOND EXPLORATION CLAIM RESERVATION GRANTED IN AREA SURROUNDING LAHTOJOKI
MINING CONCESSION
* Geophysical And Geochemical Anomalies Noted In The Claim Reservation Area
* Claim Reservation Granted Covers An Area Up-Ice Of Previous Kimberlite
Boulder Discovery
* Claim Reservation Is Over An Area Which May Contain As Yet Undiscovered
Kimberlite
Karelian Diamond Resources plc ("Karelian") (AIM: KDR, ESM: KDRI), is pleased
to announce that it has today been informed that TUKES (The Finnish Mining
Authority) has granted Karelian an exploration Claim Reservation in the Kaavi
region of Finland.
Consideration of a series of geophysical and kimberlite indicator mineral
anomalies led to the decision to apply for a Claim Reservation in the area
adjacent to the Company's Lahtojoki mining concession, announced on 19
September 2016.
The Claim Reservation covers the up-ice area of the new kimberlite boulder
discovery (previously announced on 9 November 2016 and 12 January 2017) and
totals an area of 8.67Km².
Petrographic and mineral chemistry studies undertaken by the Geological Survey
of Finland ("GTK") show clearly that the boulder is not derived from the
Lahtojoki diamondiferous kimberlite pipe but derived from an as yet
undiscovered kimberlite in the area.
A Claim Reservation gives exclusive rights to apply for exploration claims
within the reservation area.
Professor Richard Conroy, Chairman, Karelian Diamond Resources plc commented:
"I am delighted that Karelian has been granted this Claim Reservation which
extends the area around the mining concession and could potentially lead to a
new kimberlite discovery in time, given that the boulder comes from a yet
undiscovered pipe."
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.
Further Information:
Professor Richard Conroy, Chairman, Karelian Diamond Tel: +353-1-479-6180
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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