1 July 2015
RIIHIVAARA KIMBERLITE SHOWS POSITIVE MINERAL CHEMISTRY RESULTS FOR DIAMONDS
* Diamond Indicator Group I Type Eclogitic Garnets Abundant
* Diamond Type Chromites Also Present
* Ilmenite Analysis Indicates a Good Diamond Preservation Index
* More Than One Diamondiferous Source May Be Present
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Karelian Diamond Resources plc ("Karelian") (AIM: KDR, ESM: KDRI), the
diamond exploration company focused on Finland, is pleased to announce that
results from the mineral chemistry analyses carried out by the Geological
Survey of Finland show that the right geochemical conditions exist to host
diamonds in the Riihivaara Kimberlite, which was recently discovered by the
Company in the Kuhmo area of Eastern Finland.
The new results are significant in that they show that the Riihivaara
Kimberlite sampled a portion of the Earth's mantle that has a high
potential to be diamondiferous.
A 20kg sample collected from the discovery pit shows positive mineral
chemistry results. These results were obtained from the coarse (0.5 to
1.0mm) size fraction. Eclogitic garnets (including Diamond indicator Group
I type) are abundant (54% of the garnet indicator minerals) in the sample.
Group I eclogitic garnets tend to be associated with diamonds. Similarly,
G10 harzburgitic garnets were also present in the sample and these are also
associated with the presence of diamonds.
The kimberlite chromite population in the sample shows a high percentage
(18%) of diamond inclusion type chromites indicating that the kimberlite
has a high potential to host diamonds.
Ilmenites discovered in the kimberlite indicate a good preservation index.
Results from the ilmenite analyses indicate derivation from low oxidation
mantle source rocks, which is important for the growth and preservation of
diamonds.
Geochemical and petrographic analyses confirm the kimberlite to be an
olivine-rich, micaceous kimberlite similar to the Company's diamondiferous
Seitaperä Kimberlite.
Comparisons between the kimberlite indicator mineral populations in the
kimberlite sample and those previously observed in till sampling show
differences which may indicate additional diamondiferous sources in the
exploration area.
This release has been approved by Kevin McNulty PGeo, who is a member of
the Company's technical staff, who 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 commented:
"The sample results are excellent. The mineral chemistry analyses carried
out by the Geological Survey of Finland are very encouraging and show that
the Riihivaara Kimberlite has high potential to be diamondiferous. The
results confirm that the geochemical conditions exist for the area to host
diamonds."
Further Information:
Professor Richard Conroy, Chairman, Tel: +353-1-661-8958
Karelian Diamond Resources plc
Virginia Bull / Simon Clements, Tel: +44-20-7628-2200
Sanlam Securities UK Limited (Nomad)
Ger Heffernan / Jan Fitzell, Tel: +353-7662-34800
IBI Corporate Finance Limited (ESM Adviser)
Jon Bellis, Elliot Hance, Tel: +44-20-7382-8300
Beaufort Securities Limited (Broker)
Michael Padley, Tel: +44-20-3290-0707
Lothbury Financial Services Limited
Don Hall, Tel: +353-1-660-9377
Hall Communications
http://www.kareliandiamondresources.com