(Sharecast News) - Karelian Diamond Resources announced on Tuesday that it has successfully concluded a comprehensive pitting programme, traversing over 23 kimberlite target locations in the Kuhmo region of Finland.
The AIM-traded firm said the region had been under scrutiny since unearthing a green diamond in January 2017, with the pitted targets lying up-ice from that find.
It said the endeavour aimed to reveal potential kimberlite deposits, renowned for occasionally hosting diamonds, using meticulous geophysical studies and kimberlitic indicator analysis of glacial till samples.
Glacial till samples, each totalling around 120 kilograms, were methodically collected from all the explored locations, with a structured approach involving the segregation and sieving of the pieces before analysis.
Notably, in eight locations where the bedrock was accessible, it was primarily composed of granite.
The sieved samples were relayed to Overburden Drilling Management (ODM) in Canada, expecting that the ensuing kimberlite indicator mineral analysis would yield valuable insights into the mineralogical composition and potential of the explored targets.
A follow-up drilling programme was planned, contingent on the results derived from ODM's analysis.
Karelian said it would probe any areas presenting highly anomalous results, extending the investigation to other targets within the cumulative 38 kimberlite targets previously identified.
"I am delighted that the follow up programme on the kimberlite targets identified by geophysics and kimberlite indicator mineral sampling has commenced and look forward to announcing the results as the programme progresses," said chairman Richard Conroy.
At 1530 BST, shares in Karelian Diamond Resources were down 7.44% at 3.98p.
Reporting by Josh White for Sharecast.com.
Karelian (KDR)