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"We're looking at things in a very different way to how Kimberley Diamonds did it; it would be a more modest operation which doesn't require the big plant and machinery," he said. "You're looking at an operation that only involves about 5-10 people to get up and running, not the hundreds that Kimberley Diamonds had [but] that doesn't mean it can't be very profitable."
Rio Tinto Argyle diamond mine's future may decide fate of Australian industry
Get it in perspective Robemy, why don't you? Lahtojoki, like many kimberlites, contains many 10's of thousands of little fragments of eclogite, typically the size of a walnut, grading up to 90,000 cpht.
They probably represent less than 0.001% of the total or around 20 tonnes, given that the AVERAGE grade is 40cpht for 2Mct and 20t of eclogite at ~90,000cpht would contain 1.8Mct or 90% of the total grade.
Anyhow that is the point of spending £2M+ on defining a resource, something KDR has singularly failed to do in four years.
In perspective, Rio's past and producing assets:
Argyle mine: 680 cpht (750Mct produced over life.
Diavik Mine: 420 cpht (~140Mct @ 7Mct/yr over ~20 year life.
Rio's current main JV.
Fort la Corne: 12 cpht (67 Mct in over 500Mt)
Karelian's single viable project:
Lahtojoki: 40cpht (~2Mct contained)
Typical KDR RNS. Distorting and misrepresenting the facts to sucker the ignorant.
RNS: "The nature of the boulder material (an altered hypabyssal kimberlite, announced 12 January 2017) shows that it is not derived from the Lahtojoki kimberlite (a diatreme filled with tuffisitic or tuffisitic breccia kimberlite)"
1) virtually all kimberlite diatremes (volcanic vents containing broken up kimberlite and other rocks) are associated with dykes, thin sheet-like bodies which feed the pipes. 2) dyke kimberlite is always distinctive from diatreme kimberlite in that it is "hypabyssal" (ie deep solidified magma), not tuffisitic (solidified air-borne volcanic ash) or brecciated (physically broken up) so there is nothing new or surprising about finding this type of kimberlite nearby, in fact it points to it NOT being from a large pipe but rather from a small dyke. 3) dykes rarely host large tonnage, typically under 1Mt (a 1km long x 1m wide dyke holds ~1Mt to 400m depth) and need to be very high grade to be economically mined, compared to 5-6Mt already at Lahtojoki. 4) KDR in fact found a new dyke in Riihivaara in June 2015 after nearly 10 years of searching, but after a further 5 years have still not tested it to see it it actually contains any diamonds, so I won't hold my breath on any exploration around Lahtojoki turning up anything new this decade! DYOR
The "prof" is nearly 100yo, but he's no mug. He has been pulling the same trick every few months for two decades. Take the end-to-end mining process, and string-out each step along the way several times longer than normal, hype it up, then dump shares for more cash every few quarters. Explore vaguely near an existing mine "over there", sow the seeds-of-potential by association, explore a bit more, place, get permit, wait for permit, place, authorize permit, found splinters (red), place, found more splinters (green), place, need a new permit elsewhere, wait for new permit, authorize permit, place, find more splinters in the new zone (purple), insert pumpy buzzwords like "diamondiferous" and "rich vein", place... Repeat ad infinitum... Very smart strategy.
Karelian Diamond Resources plc (“Karelian Diamonds”) (AIM: KDR), is pleased to announce that, on 8 January 2020, it was informed that the Company’s Lahtojoki South ore exploration permit, granted in January 2018, has become legally valid. As a result the Company can now carry out its exploration plans for the permit area. The Lahtojoki South exploration permit, which covers 28.8 hectares, is of particular interest to Karelian Diamonds as it is situated close to the Lahtojoki diamond deposit, in the Kaavi region of Finland, over which the Company has a mining concession. Kimberlites are known to occur in clusters. The exploration permit granted includes the area in which kimberlite boulders were discovered, to the south west of the Lahtojoki diamond deposit, and extends over 400m up-ice from the boulder discovery site.
The nature of the boulder material (an altered hypabyssal kimberlite, announced 12 January 2017) shows that it is not derived from the Lahtojoki kimberlite (a diatreme filled with tuffisitic or tuffisitic breccia kimberlite). This suggests, along with their location, that the boulders are from an undiscovered kimberlite up ice from their initial discovery site.
The Company commissioned a Preliminary Economic Assessment on the Lahtojoki Diamond deposit which highlighted the economic viability of the deposit (announced by the Company on 1 August 2017).
Professor Richard Conroy, Chairman, Karelian Diamond Resources plc commented:
“I am very pleased that this exploration permit near to the Lahtojoki diamond deposit has become legally valid, enabling the Company to proceed with its exploration plans for the area. The possibility of a new diamondiferous kimberlite discovery close by further increases the overall attractiveness of the Lahtojoki Diamond Deposit.”
This makes no sense to me. How can it take two years from having an exploration permit granted to it becoming legally valid! The RNS from 2018 makes no mention of any criteria under which the permit would become legal. Just a reference to a 30 day appeal.
So did someone appeal it. Did kdr pay for the permit. Whilst it may be positive it’s another example of being kept in the dark