17 December 2013
Additional Applications For Diamond Exploration Claims In Kuusamo
* Diamondiferous Kimberlitic Indicator Minerals Identified In Further Areas Of
Kuusamo
* Applications Lodged For Additional Exploration Claim Reservations
__________________________________________________________________________________
Karelian Diamond Resources plc ("Karelian") (AIM:KDR, ESM: KDR.I) is pleased to
announce that, arising from its ongoing review of exploration results in its
Kuusamo diamond exploration target area in Finland, it has submitted
applications for an additional two exploration claim reservations in the area.
Analysis of airborne geophysics by the Company together with till sampling and
integration of data made available to Karelian under its agreement with Rio
Tinto Mining and Exploration has led to the decision to apply for further claim
reservations in the area. A claim reservation gives exclusive rights to apply
for exploration claims within the reservation area.
In the first additional area in Kuusamo 25 kimberlitic indicator minerals were
recovered and in the second 10 kimberlitic indicator minerals were recovered
The results of further studies, including microprobe analysis, showed that in
both areas diamondiferous kimberlitic indicator minerals were present.
Kuusamo is located in the Northeast of Finland just south of the Arctic Circle
and is bordered to the East by Russia.
This release has been approved by Kevin McNulty PGeo, 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.
Professor Richard Conroy, Chairman,commented:
"The recent successful fundraising will allow us to further developour diamond
exploration programme in Finland, where we hope to discover major deposits
comparable to the world class finds across the border in Russia."
Further Information:
Professor Richard Conroy, Chairman, Karelian Tel: +353-1-661-8958
Diamond Resources plc
Simon Clements/Virginia Bull, Sanlam Securities UK Tel: +44-20-7628-2200
Limited (Nomad)
Ger Heffernan IBI Corporate Finance Limited (ESM Tel: +353-7662-34800
Adviser)
Jon Belliss/David Lawman XCAP Securities PLC Tel: +44-20-7101-7070
(Broker)
Michael Padley/Michael Spriggs, Lothbury Financial Tel: +44-20-3440-7620
Services Limited
Don Hall, Hall Communications Tel: +353-1-660-9377
http://www.kareliandiamondresources.com