Karelian Diamond Granted Two Exploration Claim Reservations In Finland

Mon, 20th Jan 2014 10:11

LONDON (Alliance News) - Karelian Diamond Resources PLC said Monday that it had been granted the first two of four exploration claim reservations in the Kuusamo region of Finland by the Finnish Mining Authority.

The company said that both reservation areas have been shown to contain minerals indicating the presence of diamonds based on airborne geophysics, as well as till sampling and integration data supplied to Karelian by Rio Tinto PLC under an agreement.

The claim reservation gives Karelian exclusive rights to apply for exploration claims in the areas.

Shares in Karelian were trading up 4.6% at 2.98 pence Monday morning.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

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