12th Mar 2014 10:03
LONDON (Alliance News) - Finnish diamond explorer Karelian Diamond Resources PLC Wednesday said it has been granted three more exploration claim reservations by Finnish authorities.
In a statement, the company said it has been granted to more claims in the Kuusamo region and a claim reservation in the Kuupio-Kaavi region.
A claim reservation gives the company exclusive rights to apply for exploration claims within the reservation area.
"The decision to apply for the reservations was based on analysis of airborne geophysics together with till sampling and integration of data made available to Karelian under its agreement with Rio Tinto Mining and Exploration," the company said in a statement.
"In all three reservations kimberlitic indicator minerals were recovered in till samples and further studies, including microprobe analysis, showed the presence of diamondiferous kimberlitic indicator minerals," it added.
Karelian Diamond Resources was up 2.4% at 3.2 pence Wednesday morning.
By Steve McGrath; [email protected]; @SteveMcGrath1
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