Karelian Diamond Resources Plc Positive results from sampling programme

 
TIDMKDR 
 
PRIOR TO PUBLICATION, THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT WAS 
DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF 
REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310. 
WITH THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INFORMATION IS NOW CONSIDERED TO 
BE IN THE PUBLIC DOMAIN. 
 
[Description: Description: Karelian] 
 
Karelian Diamond Resources plc 
 
("Karelian Diamonds" or "the Company") 
 
12 October 2023 
 
POSITIVE RESULTS FROM NICKEL-COPPER-PLATINUM SAMPLING PROGRAMME 
 
  · Mineral indicator analyses of stream sediment samples indicate prospectivity 
for nickel, copper and platinum mineralisation 
 
  · Results of microprobe analysis show high zinc oxide values 
 
  · Chromites with Fe-Ni-S inclusions observed 
 
  · Highly anomalous area outlined 
 
Karelian Diamond Resources PLC (AIM: KDR) is pleased to announce that indicator 
mineral and microprobe analysis results from a stream sampling programme in 
Northern Ireland confirms the prospectivity of the Company's licence area for 
nickel, copper and platinum group metals. The sampling programme was a follow up 
to an earlier sampling programme which suggested the potential of the area for 
these metals (the results of which were announced by the Company on 10 November 
2021). 
 
Thirty three stream sediment samples, with an average weight of circa 18kg per 
sample, were collected across the three licences, totalling an area of 
approximately 750km2, now held by the Company in Northern Ireland. The samples 
were despatched to Overburden Drilling Management Limited ("ODM") in Canada for 
mineral concentration, picking and analysis for indicator mineralogy using ODM's 
trade-marked metamorphic/magmatic massive sulphide indicator minerals (MMSIM'S) 
technique. ODM has been a key contributor to numerous discoveries worldwide, 
including the Voisey's Bay nickel-copper-cobalt deposit in Labrador, Canada. 
 
The results of this programme, taken in conjunction with results from the 
previous programme, indicate a highly anomalous river catchment area. This area 
has yielded five samples each having over 1,000 indicator minerals.  The 
indicator minerals are primarily Chromite and Forsterite with some Chalcopyrite 
and gold grains. 
 
In addition, microprobe analysis on a number of Chromite grains from samples 
taken from this area during the original sampling programme in 2021 showed that 
four samples had Chromites with high zinc oxide values. Such high zinc oxide 
values can be a signature of sulphide rich Nickel-Copper Group Elements 
deposits. It was also noted that a number of the Chromites have inclusions of 
iron, nickel, sulphur as well as on the Chromite margins, which is significant 
as it indicates the presence of nickel mineralisation. 
 
The Company is planning a follow up programme focused on the highly anomalous 
river catchment area, together with some additional microprobe analysis, with a 
view to identifying one or more drilling targets. 
 
Further results will be issued by the Company as the exploration programme 
proceeds. 
 
This release has been approved by Kevin McNulty PGeo, who is a member of the 
Company's technical staff and holds a BSc/MSc in Geology and Remote Sensing, in 
accordance with the guidance note for Mining, Oil and 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, Karelian Diamond Resources plc commented: 
 
"I am very pleased that the Company's exploration programme for Nickel-Copper 
-Platinum Group metals in Northern Ireland has yielded such encouraging results 
and we look forward greatly to the planned follow up work programme." 
 
Further Information: 
 
Karelian Diamond Resources plc      +353-1-479-6180 
 
Professor Richard Conroy, Chairman 
Allenby Capital Limited (Nomad)     +44-20-3328-5656 
 
Nick Athanas / Nick Harriss 
First Equity Limited (Broker)       +44-20-7330-1883 
 
Jason Robertson 
Lothbury Financial Services         +44-20-3290-0707 
 
Michael Padley 
Hall Communications                 +353-1-660-9377 
 
Don Hall 
 
http://www.kareliandiamondresources.com 
 
 
This information was brought to you by Cision http://news.cision.com 
 
 
END

(END) Dow Jones Newswires

October 12, 2023 02:00 ET (06:00 GMT)

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