The Riihivaara 26 exploration permit covers Karelian Diamond's kimberlite (olivine lamproite) discovery at Riihivaara. Exploration permits Riihivaara 24, 24a and 24b cover the adjacent areas. The Riihivaara permits are in an emerging kimberlite field, in which the Company has to date identified 20 regional anomalies. The Company's kimberlite discovery at Riihivaara is circa 10 kilometres to the south of where the Company discovered a green diamond. As announced on
The Riihivaara kimberlite comes to surface and extends for at least 350 metres. It is a dyke which remains open in both directions along strike with widths of up to two metres intersected. Drilling has already successfully intersected kimberlite at a deeper level and has also shown that the dyke dips at circa 50-degree to the Northeast. Mineral chemistry at the site shows that diamond indicator Group I eclogitic garnets are abundant and that diamond type chromites are also present. Ilmenite analysis indicates a good diamond preservation index. Mineral chemistry also shows that more than one source may be present. It is known that kimberlites tend to occur in clusters and that potentially diamondiferous sources may exist in the vicinity of the Riihivaara kimberlite.
To this end Karelian Diamonds has also extended the Riihivaara 24, 24A and 24B exploration permits. The Company believes the Kuhmo region of
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