Business
Licence Award
Licence Award.
About this update from Karelian Diamond Resources Plc
[{"type":"text","content":"\n \n \n 10 November 2010\n\nKARELIAN DIAMOND RESOURCES PLC\n\nAWARDED TWO DIAMOND LICENCES AT KUHMO IN FINLAND\n\n * Licences cover known Kimberlite bodies to the North of Seitaperä \n Diamondiferous Pipe\n \n * Reassessment of area is justified in view of consistently good geochemistry\n and diamondiferous results at Seitaperä\n \nKarelian Diamond Resources plc (\"Karelian\") (AIM:KDR, ESM: KDRI), is pleased to\nannounce that the Company has been awarded licences over two kimberlite bodies\nin the Kuhmo area of Eastern Finland.\n\nThe claims cover kimberlite occurrences at Havukkasuo (Kimberlite 18) and\nLentiira (Kimberlite 24) to the north of the Seitaperä kimberlite pipe where\nthe Company has shown a significant increase in size and increased diamond\npotential.\n\nWork has been carried out by previous operators on these kimberlites including\nseventeen drill holes in Havukkasuo (340 metres), five of which are reported as\nintersecting kimberlite and twelve into Lentiira (182 metres), eleven of which\nintersected kimberlite.\n\nHowever, in view of the positive results obtained by the Company on the\nSeitaperä kimberlite and the overall prospectivity of the Kuhmo area which has\ndemonstrated consistently good mineral chemistry the Board believes that a\nreassessment of these known kimberlites is merited.\n\nKarelian Chairman, Professor Richard Conroy commented:\n\n\"I am delighted with the award of these licences and look forward to the\nresults of our work on them. The Company's objective remains to make a major\ndiamond discovery in Finland comparable to the world class discoveries already\nmade on the Russian side of the structure.\"\n\nFurther Information:\n\nProfessor Richard Conroy, Chairman, Karelian Tel: +353-1-661-8958 \nDiamond Resources plc \n \nSimon Clements/Virginia Bull, Merchant Securities Tel: +44-20-7628-2200 \nLimited (Nomad) \n \nJohn Tuite, IBI Corporate Finance Limited (ESM Tel +353-1-637-7800 \nAdviser) \n \nCharles Dampney, City Capital Corporation Limited Tel: +44-20-3178-3399 \n(Broker) \n \nMichael Padley/Michael Spriggs, Lothbury Financial Tel: +44-20-7868-2010 \nServices Limited \n \nDon Hall, Hall Communications Tel: +353-1-660-9377 \n\nhttp://www.kareliandiamondresources.com\n\n\n \n ","length":3313,"tagName":"div"}]