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Karelian Diamond Resources Plc - Diamond Discovery: Technical Report

Mittwoch, 15.02.2017 08:00 von PR Newswire

PR Newswire

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").

15 February 2017

Karelian Diamond Resources plc

(“Karelian” or “the Company”)

DIAMOND DISCOVERY: TECHNICAL REPORT

  • Diamond is a Dodecahedron 0.8mm in Diameter
  • Sparkling Clear Crystal: Colour Greenish
  • Extremely Rare Event

Karelian Diamond Resources plc (“Karelian”) (AIM: KDR, ESM: KDRI), is pleased to announce that it has received a technical report by the Geological Survey of Finland (“GTK”) on its diamond discovery in Eastern Finland that was announced on 31 January 2017.

The Report is by Dr Kari A. Kinnunen, a diamond specialist with the GTK, with additional comments by Dr Hugh O’Brien, senior diamond exploration geologist with the GTK.  

The stone, which is described by Dr Kinnunen as being an “excellent diamond”, is 0.8mm in diameter, forming a 12-sided, curved and twinned dodecahedron. It is a sparkling clear crystal with clean faces. The colour is greenish.

Surface textures (microdisks and hillocks) indicate slight resorption of the diamond during transport in the kimberlite magma from its ultimate source 150km or deeper in the Earth, to the Earth’s surface and could indicate hypabyssal kimberlite-type magmatic rock.

Dr. O’Brien comments “The discovery of a diamond in a till exploration sample is an extremely rare event. Such a significant result identifies this new target as a high priority for follow-up work.”

An image of the diamond which can be viewed on the Company website:

http://www.kareliandiamondresources.com/

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:

“I am delighted to receive the technical report from the GTK on, to quote Dr K Kinnunen, this excellent diamond. This is a stunning discovery.”

Further Information:

Professor Richard Conroy, Chairman, Karelian Diamond Resources plc Tel: +353-1-661-8958
Virginia Bull / James Thomas / Nick Harriss, Allenby Capital Limited (Nomad)  Tel: +44-20-3328-5656
Ger Heffernan / Jan Fitzell, IBI Corporate Finance Limited (ESM Adviser) Tel: +353-7662-34800
Jon Belliss / Elliot Hance, Beaufort Securities Limited (Broker) Tel: +44-20-7382-8300
Michael Padley, Lothbury Financial Services Limited Tel: +44-20-3290-0707
Don Hall, Hall Communications Tel: +353-1-660-9377

www.kareliandiamondresources.com