19 September 2013
Applications For Diamond Exploration Claims Follow Good Results At Riihivaara
Target
* Diamondiferous Kimberlite Indicator Minerals Found In Area
* Exploration Claims Lodged At Riihivaara And At Further Sites
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Karelian Diamond Resources plc ("Karelian") (AIM:KDR, ESM: KDR.I) is pleased to
announce that, following its review of exploration results at its Riihivaara
diamond exploration target, it has submitted applications for exploration
claims within its Riihivaara claim reservation area near Kuhmo in Eastern
Finland.
A till sampling programme at Riihivaara resulted in the discovery of G9 and G10
diamondiferous indicator minerals - so called because they are formed within
the ultramafic rocks underlying the earth's crust at the same temperatures and
pressures as diamonds. G3 and G4 garnets were also found, suggesting the
presence of eclogitic mantle material which is significant as it tends to be
associated with higher grade diamonds.
The Riihivaara claim reservation lies approximately 10km southeast of the
Company's Seitaperä kimberlite target, which at 6.9 hectares, is the largest
kimberlite pipe to be discovered in Finland. A claim reservation gives
exclusive rights to apply for exploration claims within the reservation area.
Following a review and integration of exploration data made available to
Karelian under its agreement with Rio Tinto Mining and Exploration, Karelian
has also applied for additional diamond exploration licences elsewhere in
Finland.
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:
"I am delighted at thesefurther important stepsin our diamond exploration
programmein Finlandwhich aredesigned to find diamond deposits similar to the
world class diamond deposits foundin similar geologyacross 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)
Brian Farrell, IBI Corporate Finance Limited (ESM Tel: +353-7662-34800
Adviser)
Jon Belliss, XCAP Securities PLC (Broker) Tel: +44-20-7101-7070
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