Last checked at 15 Apr 2008 07:00
Karelian Diamond Resources plc ("Karelian" or the "Company") 15 April 2008
DIAMOND POTENTIAL OF SEITAPERƒâ€ž KIMBERLITE CONFIRMED BY MINERAL CHEMISTRY AND MICRO-DIAMOND ANALYSES
* Micro-Diamond Recovered From Kimberlite Feeder Dyke
* Mantle Material Shown To Have Favourable Ratio Of Garnets
Karelian Diamond Resources plc (AIM: KDR) is pleased to announce favourable results of its mineral chemistry and micro-diamond analyses on the Seitaperƒ¤ diamondiferous kimberlite in eastern Finland and the recovery of a micro-diamond from a feeder dyke to the main pipe.
Micro-probe analyses of mantle-derived nodules (inclusions) from the Seitaperƒ¤ kimberlite have demonstrated that these are mantle-sourced garnet peridotites bearing abundant G9 garnets. The significance of the nodules is that diamonds are formed within mantle material.
These analyses, performed under contract by the Geological Survey of Finland ("GTK"), have been integrated into an extensive data-base of mineral chemistry analyses from the Seitaperƒ¤ kimberlite. The garnet content of the kimberlite is now shown to comprise ~ 14per cent. harzburgitic (G10); ~73 per cent. lherzolitic (G9); ~13 per cent. megacrystic and ~ 0.5 per cent. eclogitic (n= 240). This ratio is in the general range of many economically diamondiferous kimberlites world-wide.
In addition to the positive mineral chemistry, a micro-diamond has been recovered from one of two kimberlite dykes presumed to feed into the Seitaperƒ¤ kimberlite. The sample material was selected on the basis of surface exposure and, as such, the positive micro-diamond result not only further confirms the diamondiferous nature of the Seitaperƒ¤ pipe but also the survivability of diamonds in the kimberlite magma of the pipe.
Based on these results, the Company has decided to undertake comprehensive testing of the known mantle-nodule bearing zone previously identified within the Seitaperƒ¤ kimberlite.
Commenting today, Professor Richard Conroy, Chairman of Karelian Diamond Resources, said: "We are particularly pleased by the recovery of a micro-diamond from the feeder dyke, which bodes well for the main pipe itself, and that the mineral chemistry results from the mantle material are within the general range of many economically diamondiferous kimberlites world-wide".
This release has been approved by Kevin McNulty, who is a member of the Company's technical staff, who 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.
Further Info: Professor Richard Conroy, Chairman Karelian Diamond Resources plc. Tel: + 353-1-661-8958
Charles Dampney, City Capital Corporation Limited. Tel: + 44-20-7842-5867
Jeffrey Coburn/Simon Fox, John East & Partners Limited Tel: + 44-20-7628-2200
Don Hall, Hall Public Relations and Corporate Affairs Tel: + 353-1-660-9377
Ron Marshman/John Greenhalgh, City of London PR Limited. Tel: + 44-20-7628-5518
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