Karelian Diamond obtains exploration reservation in Finland

28 March 2019 (Last Updated March 28th, 2019 11:29)

The Finnish Mining Authority (TUKES) has granted a reservation situated in the Salla region of northeastern Finland to Karelian Diamond Resources.

The Finnish Mining Authority (TUKES) has granted a reservation situated in the Salla region of northeastern Finland to Karelian Diamond Resources.

The company applied for this reservation, which covers an area of 1,100ha, after completing a review of airborne geophysics and past exploration data in the Salla region, which lies to the north of known diamondiferous kimberlites.

This region lies within a geological area that straddles Russia and Finland.

Karelian Diamond believes that the area is a highly prospective region of Finland to discover further diamondiferous kimberlite bodies.

Lomonosov and Grib diamond deposits have been discovered on the Russian side of the border and are now in production as major diamond mines, the company said.

Karelian Diamond Resources chairman Richard Conroy said: “I am pleased that Karelian Diamonds has been granted this reservation in the highly prospective Salla region of Finland, where geophysics and analysis of past exploration data have suggested the possible presence of kimberlite bodies.”

The company is currently carrying out an exploration programme on the Finnish side of the geological area.

In the Kuhmo region, it has discovered a green diamond and two new kimberlite bodies.

“I am pleased that Karelian Diamonds has been granted this reservation in the highly prospective Salla region.”

Last month, the company secured a diamond exploration reservation situated in the Liperi region of eastern Finland from TUKES.

It is currently assessing a diamond deposit at Lahtojoki in Finland’s Kaavi region to develop a mine.

With the grant of the reservation, Karelian Diamond now has exclusive rights in place to apply for an exploration permit within the area.