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Lahtojoki South Diamond Exploration Update

4 May 2021 09:00

Karelian Diamond Resources Plc - Lahtojoki South Diamond Exploration Update

Karelian Diamond Resources Plc - Lahtojoki South Diamond Exploration Update

PR Newswire

London, May 4

Karelian Diamond Resources plc

(“Karelian Diamonds” or “the Company”)

4 May 2021

LAHTOJOKI SOUTH DIAMOND EXPLORATION UPDATE

Mantle garnet minerals observed in Boulder Material Cut section reveals purple to red garnets and ilmenites Results provide further evidence of undiscovered, potentially Diamondiferous Kimberlite in the vicinity of Lahtojoki Diamond Deposit

Karelian Diamond Resources plc (AIM: KDR), the diamond exploration company focused on Finland, is pleased to announce new results from its ongoing diamond exploration programme in the Lahtojoki South exploration area. A cut and polished section of the kimberlite boulder material (details of which were announced by the Company on 5 March 2021) has revealed the presence of mantle garnets.

Observations of the cut and polished section of the boulder made by the Geological Survey of Finland (GTK) in their Espoo Laboratory have revealed a number of purple to red peridotitic garnets (G9/10 Cr-pyrope), several orange mantle or crustal garnets, and a number of large ilmenite grains*.

These minerals are typical of mantle detritus found in kimberlite that indicate that this boulder material represents cooled magma derived from the Earth’s mantle.

The results are further evidence that an undiscovered, potentially diamondiferous, kimberlite body may exist in the vicinity of the Lahtojoki diamond deposit.

These findings will be followed up by a petrographic microscope investigation of thin sections from the boulder material and Electron Probe Micro Analyzer (“EPMA”) analyses of the mantle garnets and a determination if the ilmenite is high Magnesium Oxide (MgO) picroilmenite typical of kimberlites.

The EPMA analyses of mantle garnets minerals may confirm whether the mantle minerals of purple to red peridotitic garnets are derived from similar depths to where diamonds are formed thus indicating whether the kimberlite sampled within the diamond stability field.

The discovery of the kimberlite boulders in the Lahtojoki south exploration permit licence area, and the subsequent studies which proved the boulders to be altered hypabyssal kimberlite, a different form of kimberlite from that present in the Lahtojoki deposit, confirms that these boulders are not derived from the Lahtojoki diamondiferous kimberlite pipe.

Kimberlites tend to occur in clusters and as such these findings suggest the probability of an additional, potentially diamondiferous source in the vicinity of the Lahtojoki diamond deposit.

Photo 1: Two purple to red garnet grains and two generations of olivine pseudomorphs

Photo 2: One orange garnet and olivine pseudomorphs

*Images of the polished boulder can be viewed on the Company website: http://www.kareliandiamondresources.com/

This release has been approved by Kevin McNulty PGeo, who is a member of the Company's technical staff

and holds a BSc/MSc in Geology and Remote Sensing, in accordance with the guidance note for Mining, Oil

& Gas Companies issued by the London Stock Exchange in respect of AIM Companies, which outlines

standards of disclosure for mineral projects.

Professor Richard Conroy, Chairman, Karelian Diamond Resources plc commented:

“The results are further encouragement that an additional kimberlite source could exist in the vicinity of the Lahtojoki diamond deposit which the Company is working to develop as the first diamond mine in Europe (outside of Russia).”

Further information:

Karelian Diamond Resources plc Professor Richard Conroy, Chairman +353-1-479-6180
Allenby Capital Limited (Nomad) Nick Athanas / Nick Harriss +44-20-3328-5656
First Equity Limited (Broker) Jason Robertson +44-20-7330-1883
Lothbury Financial Services Michael Padley +44-20-3290-0707
Hall Communications Don Hall +353-1-660-9377

http://www.kareliandiamondresources.com

Date   Source Headline
11th Mar 20247:00 amPRNCourt hearing set for Lahtojoki
29th Feb 20247:00 amPRNHalf-yearly results for the six months ended 30 November 2023
25th Jan 20247:00 amPRNRiihivaara Exploration Permits Extended
2nd Jan 20243:49 pmPRNHolding(s) in Company
21st Dec 20232:15 pmRNSResult of AGM
21st Dec 20237:04 amPRNAGM Statement
19th Dec 20237:00 amPRNUpdate on sample results and diamond exploration programme in Kuhmo region
4th Dec 20234:43 pmPRNHolding(s) in Company
1st Dec 202312:54 pmPRNHolding(s) in Company
29th Nov 20237:00 amPRNFinal Results
1st Nov 20235:15 pmPRNTotal Voting Rights
20th Oct 20231:43 pmPRNFundraising and Appointment of Broker
19th Oct 20235:47 pmPRNHolding(s) in Company
12th Oct 20237:00 amPRNPositive results from sampling programme
11th Oct 20237:00 amPRNExercise of Warrants
10th Oct 20237:00 amPRNDiamond Exploration Programme Update
9th Oct 20234:37 pmPRNHolding(s) in Company
26th Jul 20237:00 amPRNExploration Programme in Northern Ireland
18th Jul 20237:00 amPRNFollow-up diamond exploration in Kuhmo
24th Apr 20237:13 amPRNUpdate on Planned Exploration Programmes
11th Apr 202310:55 amPRNHolding(s) in Company
4th Apr 20232:20 pmPRNHolding(s) in Company
29th Mar 20237:00 amPRNLahtojoki Diamond Deposit Update
24th Mar 20231:07 pmPRNHolding(s) in Company
15th Mar 20235:26 pmPRNHolding(s) in Company
28th Feb 20237:00 amPRNHalf-yearly results for the 6 months to 30 November 2022
21st Feb 20234:25 pmPRNHolding(s) in Company
30th Jan 20233:43 pmPRNHolding(s) in Company
27th Jan 20232:14 pmPRNHolding(s) in Company
29th Nov 20227:00 amRNSFinal Results
1st Jun 20223:00 pmPRNLahtojoki Diamond Mine Development Update
25th May 20224:29 pmPRNHolding(s) in Company
10th Mar 20227:00 amPRNNickel Prospecting Licences Applied for in N.I
28th Feb 20227:00 amPRNHalf-year Report
10th Feb 20227:00 amRNSLahtojoki Diamond Deposit Update
19th Jan 202210:31 amPRNHolding(s) in Company
22nd Dec 20212:51 pmPRNResult of AGM
14th Dec 20214:45 pmPRNNotice of Change of Venue of AGM
30th Nov 20213:49 pmPRNFinal Results
17th Nov 20217:00 amPRNHolding(s) in Company
10th Nov 20217:00 amPRNHighly anomalous amounts of chromite reported
1st Nov 20217:00 amPRNHolding(s) in Company
11th Oct 20215:25 pmPRNHolding(s) in Company
6th Oct 20217:00 amPRNAnalysis of Kimberlite boulder in Lahtojoki south
17th Aug 20215:45 pmPRNHolding(s) in Company
17th Aug 20217:00 amPRNSHARES/AJ BELL WEBINAR 17 AUGUST
6th Aug 202110:52 amPRNHolding(s) in Company
27th Jul 20217:00 amPRNBrookeborough Diamond Exploration Commenced
30th Jun 20215:00 pmRNSTotal Voting Rights
24th Jun 20216:14 pmPRNHolding(s) in Company

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