Business
First Tranche of Data Received From Rio Tinto
First Tranche of Data Received From Rio Tinto.
About this update from Karelian Diamond Resources Plc
[{"type":"text","content":"\n \n \n 17 January 2011\n\n KARELIAN DIAMOND RESOURCES PLC\n\nFIRST TRANCHE OF DATA RECEIVED FROM RIO TINTO MINING AND EXPLORATION LIMITED\n\n * Over 53,000 surface samples\n \n * 122 diamonds present in the samples\n \n * Over 600 probe results (of kimberlite indicator minerals) from over 200\n locations across Finland\n \nKarelian Diamond Resources plc (\"Karelian\") (AIM: KDR, ESM: KDR.I), the diamond\nexploration company focused on Finland, is pleased to announce that it has\nreceived its first tranche of confidential information from Rio Tinto Mining\nand Exploration Limited (\"Rio Tinto\") in accordance with its confidentiality\nagreement with Rio Tinto, as announced on 22 July 2010, relating to samples\ntaken across Finland.\n\nThe data comprises over 53,000 surface samples and over 600 analytical probe\nresults and other kimberlitic mineral data, kimberlitic indicator minerals\nreported from over 200 locations. 122 diamonds were recovered from various\nlocations in Finland.\n\nKarelian will integrate Rio Tinto's data with that gathered from its own\nexploration programme to assist in identifying potential targets in Finland.\n\nKarelian Chairman, Professor Richard Conroy said:\n\n\"I am delighted that the agreement with Rio Tinto has already yielded such a\nvast amount of data that is relevant to our diamond exploration programme in\nFinland, which has itself already led to the delineation by Karelian of the\nlargest diamoniferous kimberlite pipe yet discovered in Finland. The data from\nRio Tinto will be of enormous value in relation to the Company's ongoing\nexploration programme, the objective of which is to make a major economic\ndiamond discovery in Finland comparable to the world class discoveries already\nmade on the Russian side of the Karelian Craton.\"\n\nFurther Information:\n\nProfessor Richard Conroy, Chairman, Karelian Diamond Tel: +353-1-661-8958\nResources Plc \n \nSimon Clements/Virginia Bull, Merchant Securities Limited Tel:\n(Nomad) +44-20-7628-2200\n \nJohn Grant/ Karen Kelly/ David Lawman, XCap Securities Plc Tel:\n(Broker) +44-20-7101-7070\n \nJohn Tuite, IBI Corporate Finance Limited (ESM Adviser) Tel: +353-1-637-7800\n \nMichael Padley/Michael Spriggs, Lothbury Financial Tel:\nServices Limited +44-20-7868-2010\n \nDon Hall, Hall Communications Tel: +353-1-660-9377\n\nhttp://www.kareliandiamondres...