Karelian Diamond
Resources plc
(“Karelian Diamonds” or “the
Company”)
20 July 2020
VEHICULAR ACCESS
RIGHTS GRANTED FOR LAHTOJOKI DIAMOND DEPOSIT
- Rights of way granted for Lahtojoki diamond deposit
- Access to adjacent exploration acreage also granted
Karelian Diamond Resources plc (AIM: KDR) is pleased to announce
that the National Land Survey of Finland has granted rights of way over the
entire Naviskangas private forest road, together with a side road,
giving vehicular access to the Company’s Lahtojoki diamond deposit,
the adjacent Lahtojoki South exploration permit area and the
surrounding reservation in the Kaavi region of Finland.
The granting of vehicular rights of way will facilitate the
Company in its technical assessment of the Lahtojoki diamond
deposit over which it has been granted a mining concession.
The two hectare Lahtojoki diamond deposit is located in the
Kaavi region of Eastern Finland
and lies in the Karelian Craton (Baltic Shield) which extends
across north-eastern Russia and
northern Finland. The world class
Lomonosov and Grib Pipe diamond
deposits have been discovered in the Russian sector of the
Craton.
Drilling and sampling information to date, together with other
technical information, indicate that the Lahtojoki diamond deposit
has the potential to become a profitable open pit diamond mine.
Initial sampling raises the possibility that the deposit has a high
percentage gem quality with coloured diamonds present, including
pinks.
The grant of the rights of way also facilitates exploration on
the Company’s Lahtojoki South exploration permit and on its KDR-R1
Reservation surrounding the diamond deposit. In the Lahtojoki South
Exploration area kimberlite boulders have been discovered which are
most likely to have been derived from an unknown kimberlite source.
This is important as kimberlites tend to occur in clusters and the
presence of these boulders raises the possibility that other
diamondiferous kimberlites could be present in the immediate
area.
The rights of way are valid to 2 January
2024 and are subject to appeal. A temporary right of
passage has been granted which is valid until the granted right of
way has gained legal force. The grant gains legal force once the
appeal period has expired (10 August
2020 at the latest) or an appeal has been resolved.
A user fee of Euro 0.5 per
tonne-kilogram is payable by the Company together with a security
deposit of Euro 3,000 with the
Eastern Finland Regional State Administrative Agency.
Professor Richard Conroy, Chairman, Karelian Diamond
Resources plc, commented:
“Having rights of way for vehicular
access will greatly help the ongoing assessment of the Lahtojoki
diamond deposit and also the additional exploration around the
deposit. It is a further step forward as we move towards our goal
of bringing in a diamond mine at Lahtojoki – the first diamond mine
in Europe outside of Russia.”
Further information:
Karelian Diamond Resources plc
Professor Richard Conroy, Chairman |
+353-1-479-6180 |
Allenby Capital Limited (Nomad)
Nick Athanas / Nick Harriss |
+44-20-3328-5656 |
Brandon Hill Capital (Broker)
Jonathan Evans |
+44-20-3463-5000 |
Lothbury Financial Services
Michael Padley |
+44-20-3290-0707 |
Hall
Communications
Don Hall |
+353-1-660-9377 |
http://www.kareliandiamondresources.com