REG-Karelian Diamond Resources Plc: Exploration Programme in Northern Ireland

Karelian Diamond ResourcesAnnouncement

26/07/2023 07:15

 


 

Karelian Diamond Resources plc

("Karelian Diamonds" or "the Company")

26 July 2023

 

NICKEL-COPPER-PLATINUM EXPLORATION PROGRAMME IN NORTHERN IRELAND

 
* Stream sediment samples collected across three licence areas
 
* Samples dispatched for mineral indicator analysis
 

Karelian Diamond Resources plc ("Karelian Diamonds") (AIM: KDR), is pleased to
announce that a Nickel-Copper-Platinum Group Metals exploration programme has
commenced in Northern Ireland.  A series of stream sediment samples have been
collected across three licences and despatched for analysis to Overburden
Drilling Management Limited in Canada ("ODM").

The exploration programme follows the discovery of anomalous amounts of
chromite and forsterite olivine and metamorphosed / magmatic massive sulphide
Indicator minerals ("MMSIM"), suggestive of the presence of
Nickel-Copper-Platinum mineralisation, during the course of a stream sediment
sampling programme for diamonds on a prospecting licence in Northern Ireland
(announced by the Company on 10 March 2022).

A technical review based on geological and geochemical data, including the
Northern Ireland TELLUS survey, noted soil sample results of up to 765 ppb
Platinum (Pt), 394 ppb Palladium (Pd) and 123 ppb Gold (Au). Mafic and/or
ultramafic dyke-sill complexes are also present in the area, further
indicating the possible presence of Nickel-Copper-Platinum mineralisation.
These are similar to those hosting the world class Noril'sk
Nickel-Copper-Platinum deposit in Russia.

As a result, two adjacent prospecting licences were acquired, giving the
Company a total exploration area in Northern Ireland of approximately 750 km2
(announced by the Company on 6 October 2022).

Thirty three stream sediment samples have been collected across the three
licences. The samples have an overall weight of just over 600Kg and an average
weight of c18kg per sample. (See Table 1).

 Licence  Number of samples  
 KDR1-19  14                 
 KDR2-22  9                  
 KDR3-22  10                 

Table 1. Stream sediment samples over licence areas.

The samples have been despatched to ODM in Canada for mineral concentration,
picking and analysis for indicator mineralogy using ODMs trade-marked MMSIM
technique. ODM has been a key contributor to numerous discoveries worldwide,
including the Voisey's Bay Ni-Cu-Co deposit in Labrador, Canada.

The exploration programme for Nickel-Copper-Platinum Group Metals in Northern
Ireland continues in tandem with the Company's diamond exploration programme
in the Kuhmo region of Finland.

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

 

"I am very pleased that the Company's exploration programme for
Nickel-Copper-Platinum Group minerals over the three licences which we now
hold in Northern Ireland is underway. Combined with the ongoing work in
Finland, that is focussed on the discovery of a major diamond deposit, this
new opportunity adds to the overall potential of the Company."

 

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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