Karelian Diamond Resources has announced that the exploration permit received for the Lahtojoki South ore exploration in Finland is now legally valid.

The permit is of specific interest to Karelian Diamond due to its close proximity to the Lahtojoki deposit, which is situated in the Kaavi region of Finland.

Covering around 28.8ha, the granted exploration permit comprises the area where kimberlite boulders were revealed.

These boulders were discovered to the south-west of the Lahtojoki diamond deposit. They extend more than 400m up-ice from the boulder discovery site, said Karelian Diamond.

According to the company, the nature of the boulder material showed that they are from an undiscovered kimberlite.

In August 2017, the company conducted a preliminary economic assessment (PEA) on the Lahtojoki diamond. The PEA demonstrated the economic existence of the deposit.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

Tick here to opt out of curated industry news, reports, and event updates from Mining Technology.

Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Karelian Diamond Resources chairman Richard Conroy said: “I am very pleased that this exploration permit near to the Lahtojoki diamond deposit has become legally valid, enabling the company to proceed with its exploration plans for the area.

“The possibility of a new diamondiferous kimberlite discovery close by further increases the overall attractiveness of the Lahtojoki Diamond Deposit.”

The company hopes to develop the Lahtojoki diamond deposit as Europe’s first diamond mine, operating outside Russia.

In February 2019, the company secured a diamond exploration reservation situated in the Liperi region of eastern Finland from The Finnish Mining Authority (TUKES).

In the same year, TUKES granted a reservation situated in the Salla region of northeastern Finland to Karelian Diamond.