1st Jul 2015 08:24
LONDON (Alliance News) - Karelian Diamond Resources PLC wednesday said it has received "positive" and "excellent" mineral chemistry results from the Riihivaara kimberlite in the Kuhmo region of Finland.
The mineral chemistry analysis was carried out by the Geological Survey of Finland and showed that the right geochemical conditions exist to host diamonds in the Riihivaara Kimberlite, which was recently discovered by the company.
"The new results are significant in that they show that the Riihivaara kimberlite sampled a portion of the Earth's mantle that has a high potential to be diamondiferous," said the company.
A 20 kilogramme sample was collected from the discovery pit, with the results obtained from a coarse size fraction between 0.5 to 1.0 millimetre. Eclogitic garnets, including diamond indicator group one type, are "abundant", making up 54% of the garnet indicator minerals, it said.
"Group I eclogitic garnets tend to be associated with diamonds. Similarly, G10 harzburgitic garnets were also present in the sample and these are also associated with the presence of diamonds," said Karelian.
The kimberlite chromite population in the sample shows a "high" percentage (of 18%) of diamond inclusion type chromites indicating that the kimberlite has a "high potential to host diamonds", it said.
Results from the ilmenite analyses indicate derivation from low oxidation mantle source rocks, which is important for the growth and preservation of diamonds.
"The sample results are excellent. The mineral chemistry analyses carried out by the Geological Survey of Finland are very encouraging and show that the Riihivaara Kimberlite has high potential to be diamondiferous. The results confirm that the geochemical conditions exist for the area to host diamonds," said Chairman Richard Conroy.
Karelian shares were trading flat on Wednesday morning at 1.20 pence per share.
By Joshua Warner; [email protected]; @JoshAlliance
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