Business
Additional Exploration Claim Reservations
Additional Exploration Claim Reservations.
About this update from Karelian Diamond Resources Plc
[{"type":"text","content":"\n \n \n 17 December 2013\n\n Additional Applications For Diamond Exploration Claims In Kuusamo \n\n * Diamondiferous Kimberlitic Indicator Minerals Identified In Further Areas Of \n Kuusamo\n \n * Applications Lodged For Additional Exploration Claim Reservations\n \n__________________________________________________________________________________\n\nKarelian Diamond Resources plc (\"Karelian\") (AIM:KDR, ESM: KDR.I) is pleased to\nannounce that, arising from its ongoing review of exploration results in its\nKuusamo diamond exploration target area in Finland, it has submitted\napplications for an additional two exploration claim reservations in the area.\n\nAnalysis of airborne geophysics by the Company together with till sampling and\nintegration of data made available to Karelian under its agreement with Rio\nTinto Mining and Exploration has led to the decision to apply for further claim\nreservations in the area. A claim reservation gives exclusive rights to apply\nfor exploration claims within the reservation area.\n\nIn the first additional area in Kuusamo 25 kimberlitic indicator minerals were\nrecovered and in the second 10 kimberlitic indicator minerals were recovered\n\nThe results of further studies, including microprobe analysis, showed that in\nboth areas diamondiferous kimberlitic indicator minerals were present.\n\nKuusamo is located in the Northeast of Finland just south of the Arctic Circle\nand is bordered to the East by Russia.\n\nThis release has been approved by Kevin McNulty PGeo, who is a member of the\nCompany's technical staff, who holds a BSc/MSc in Geology and Remote Sensing,\nin accordance with the guidance note for Mining, Oil & Gas Companies issued by\nthe London Stock Exchange in respect of AIM Companies, which outlines standards\nof disclosure for mineral projects.\n\nProfessor Richard Conroy, Chairman,commented:\n\n\"The recent successful fundraising will allow us to further developour diamond\nexploration programme in Finland, where we hope to discover major deposits\ncomparable to the world class finds across the border in Russia.\"\n\nFurther Information:\n\nProfessor Richard Conroy, Chairman, Karelian Tel: +353-1-661-8958 \nDiamond Resources plc \n \nSimon Clements/Virginia Bull, Sanlam Securities UK Tel: +44-20-7628-2200 \nLimited (Nomad) \n \nGer Heffernan IBI Corporate Finance Limited ...