REG-Karelian Diamond Resources Plc: Diamond Exploration Programme Update

Karelian Diamond ResourcesAnnouncement

10/10/2023 07:15

 

Karelian Diamond Resources plc

("Karelian Diamonds" or "the Company")

10 October 2023

 

DIAMOND EXPLORATION PROGRAMME UPDATE

 
* Pitting of kimberlite target locations in Kuhmo region completed
 
* Samples dispatched for laboratory analysis
 
* Further work including drilling planned
 

Karelian Diamond Resources plc (AIM: KDR) is pleased to announce that the
Company has completed a pitting programme over a series of more than twenty
kimberlite target locations in the Kuhmo region of Finland previously
identified by geophysics and kimberlitic indicator analysis of till samples
(as announced by the Company on 18th July 2023).

The pitted targets, extending over twenty-three locations, are up-ice from the
location of the green diamond discovered in till by the Company in January
2017.

Glacial till samples for kimberlite indicator mineral testing were collected
in all twenty-three locations. In eight of the locations in which bedrock was
reached the bedrock was composed mainly of granite.

Each sample consisted of three c.40kg bags (approx. 120kg total) of glacial
till. One of the c.40kg bags was kept as a reference and two of the bags were
passed through a 2mm sieve to produce just over 30kg of sieved glacial till
material for analysis. These sieved samples have been dispatched to Overburden
Drilling Management Limited ("ODM") in Canada for kimberlite indicator mineral
analysis.

Upon receipt of the results from ODM the Company intends to then follow up
with a drilling programme to test any highly anomalous results. The drilling
programme would also test other targets within the total of thirty-eight
kimberlite targets. These targets were identified by geophysics combined with
kimberlite indicator mineral sampling results as well as the topography and
geology of the area which were not, however, suitable for initial testing by
pitting.

Further results will be issued by the Company as the exploration programme
progresses.

Professor Richard Conroy, Chairman, Karelian Diamond Resources PLC commented:

 

"I am delighted that the follow up programme on the kimberlite targets
identified by geophysics and kimberlite indicator mineral sampling has
commenced and look forward to announcing the results as the programme
progresses."

 

Further Information:

 Karelian Diamond Resources plc Professor Richard Conroy, Chairman  +353-1-479-6180   
 Allenby Capital Limited (Nomad) Nick Athanas / Nick Harriss        +44-20-3328-5656  
 First Equity Limited (Broker) Jason Robertson                      +44-20-7330-1883  
 Lothbury Financial Services Michael Padley                         +44-20-3290-0707  
 Hall Communications Don Hall                                       +353-1-660-9377   

 

http://www.kareliandiamondresources.com

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