Karelian Diamond secures three new exploration claim reservations

12 March 2014 (Last Updated March 12th, 2014 18:30)

Karelian Diamond Resources has been granted three more exploration claim reservations by the Finnish Mining Authority, TUKES.

Karelian Diamond Resources has been granted three more exploration claim reservations by the Finnish Mining Authority.

The reservations include two exploration claims in the Kuusamo region and one in the Kuupio-Kaavi region.

Kuusamo is situated in the north-east of Finland, south of the Arctic Circle and bordered to the east by Russia.

Kuupio-Kaavi is located in central Finland and is an established diamondiferous region.

Karelian said that a claim reservation gives it exclusive rights to apply for exploration claims within the area.

"Kimberlitic indicator minerals were recovered in till samples in all three reservations."

The company applied for the reservations by analysing airborne geophysics together with till sampling and integration data made available under its agreement with Rio Tinto Mining and Exploration.

Karelian noted that kimberlitic indicator minerals were recovered in till samples in all three reservations and that further studies showed the presence of diamondiferous kimberlitic indicator minerals.

Karelian Diamond Resources chairman Richard Conroy said: "We are delighted to have been granted these additional claim reservations in regions of Finland that we believe to be highly prospective for diamonds."

Karelian is the holding company of a diamond exploration group focused on the discovery of potential diamond deposits on the Finnish side of the Karelian Craton.

The company acquired Nordic Diamonds from Conroy, and Karelian Diamonds from Conroy Diamonds and Gold in July 2004. CSA Group has prepared an independent geologist's report to provide an assessment of Karelian's diamond exploration properties and information portfolio in Finland.

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