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(Sharecast News) - Karelian Diamond Resources announced on Wednesday that results from analysis undertaken by the Geological Survey of Finland (GTK) of thin sections from a kimberlite boulder recovered from its Lahtojoki South exploration area indicated potential for the presence of diamonds from the kimberlite source.
The AIM-traded firm said four polished thin sections were made from the kimberlite boulder by a specialist laboratory in Canada, Vancouver Petrographics.
Scanning electron microscope (SEM) and electron probe micro analyser (EPMA) analyses of the thin sections were undertaken by the GTK.
It said the data demonstrated that the kimberlite had sampled eclogite and peridotite rocks that were known to be diamondiferous in other kimberlites from the area.
The GTK report also said that the compositional data of picro ilmenite grains from the boulder were "outstanding" and "an important indicator for good potential diamond survival".
Pressure and temperature data indicated that the kimberlite had sampled within the diamond stability field.
The company said the GTK report also highlighted that chromites, which are "relatively rare" in the Lahtojoki kimberlite diamond deposit, appeared to be more common in the boulder, which it said was further confirmation that the boulder did not derive from the Lahtojoki deposit.
It added that the report further noted that garnets, with high chromium oxide "wehrlite" compositions, which are not seen in the Lahtojoki kimberlite, were present.
"The results from the GTK report, which has been commissioned by Karelian, further confirm that the boulder is not from the Lahtojoki deposit and also that the source of the boulder has excellent potential for diamonds being present," said chairman Richard Conroy.
"This increases the possibility of there being additional diamond potential in the Lahtojoki South exploration area."
At 1153 BST, shares in Karelian Diamond Resources were down 8.72% at 3.15p.
29 Feb 2016 12:32