9th Jan 2020 15:22
(Alliance News) - Karelian Diamond Resources PLC on Thursday said its exploration permit for the Lahtojoki South diamond project is now valid.
The permit, granted in 2018, covers 29 hectares and is located near the Lahtojoki diamond deposit in the Kaavi region of Finland. It also covers the area in which kimberlite boulders were discovered, to the south west of the Lahtojoki diamond deposit, and extends over 400 metres up-ice from the boulder discovery site.
"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," said Karelian Chair Richard Conroy.
Karelian hopes to develop the Lahtojoki diamond deposit as Europe's first diamond mine, outside Russia.
Karelian shares were trading 10% higher at 3.80 pence each on Thursday afternoon in London.
By Ife Taiwo; [email protected]
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