REG-Karelian Diamond Resources Plc: Follow-Up Excavation Completed in Kuhmo

Karelian Diamond ResourcesAnnouncement

25/09/2024 07:15

 
    25 September 2024


 

Karelian Diamond Resources PLC

("Karelian" or the "Company")

 

FOLLOW-UP EXCAVATION COMPLETED IN KUHMO

 
* Follow-up excavation programme in Kuhmo green diamond target area completed 
* A total of twenty-one glacial till samples collected
* Samples to be dispatched for kimberlite indicator mineral analysis 
* Drilling proposed to commence in winter
 

Karelian Diamond Resources PLC (AIM: KDR) is pleased to announce that the
Company has completed a follow-up excavation programme in the Kuhmo region of
Finland, up-ice of the two anomalous basal till sample locations recorded in
the year 2023 pitting programme (as announced by the Company on 19 December
2023) and the green diamond previously discovered by the Company (as announced
by the Company on 31 January 2017).

The thickness of the glacial till cover increases up-ice to the north-west
towards a swampy area which is inaccessible to an excavator until the ground
is frozen. The indicator mineral train leads into a zone where there is the
presence of an airborne electromagnetic anomaly. The recent pits were targeted
as close as possible down-ice of this airborne electromagnetic anomaly zone
which is believed to be a likely source for the kimberlitic indicator minerals
and the green diamond. Six of the potential kimberlite targets previously
identified by geophysics are located inside this same area. Many of the pits
were placed exactly down-ice of these targets, one of them on a straight line
up-ice from the location of the green diamond discovery along the indicator
mineral train.

Glacial till samples for kimberlite indicator mineral testing were collected
in a total of twenty-one locations, fifteen of which were from basal till,
five from medium layer till and one from surface till.

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

After receiving the results from ODM, the Company intends to follow up with a
drilling programme in winter when the ground freezes and a drill rig can get
on site. The results of the kimberlite indicator mineral analyses will provide
critical information for targeting diamond drilling by further delineating the
potential kimberlitic source area where any highly anomalous targets are to be
tested.

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

"This has been a highly successful and very encouraging excavation programme
which brings the Company ever closer to the discovery of the source of the
Kuhmo green diamond."

 

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  
 Peterhouse Capital Limited (Joint Broker) Lucy Williams / Duncan Vasey  +44-20-7469-0930  
 CMC Markets (Joint Broker) Douglas Crippen                              +44-20-3003-8632  
 Lothbury Financial Services Michael Padley                              +44-20-3290-0707  
 Hall Communications Don Hall                                            +353-1-660-9377   

 

http://www.kareliandiamondresources.com

 

 

 

 4042378_0.jpeg (https://mb.cision.com/Public/22626/4042378/b3a4532629038afe_org.jpeg)  



Copyright (c) 2024 PR Newswire Association,LLC. All Rights Reserved