‘Exciting results’ in the search for diamonds in Co. Fermanagh says Irish firm

The findings were discovered following a stream sediment sampling programme that was focused in Northern Ireland.

The sampling programme was being carried out in relation to the reported discovery of a diamond in the Colebrooke River, Fermanagh and previous reported recovery of chromite minerals which can be associated with the presence of diamondiferous kimberlites.

Professor Richard Conroy, chairman, Karelian Diamond Resources plc, said: “These exciting results heighten the prospectivity of the Company’s exploration programme in Northern Ireland and add an additional dimension to the Company’s exploration interests.”

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Professor Richard Conroy, chairman, Karelian Diamond Resources plc

The firm, whose activities to date have primarily been centred in Finland, has this week released to the Stock Exchange a detailed technical statement outlining the progress that has been made to date in its search for diamonds in Co. Fermanagh – a development first announced by the company last July.

Ten samples were collected and shipped to Overburden Drilling Management Limited in Canada for mineral concentration, picking and analysis for indicator minerals.

Results prove the presence of chromite in all samples with nine samples being interpreted as either anomalous or highly anomalous. The best sample contained over 1,800 chromite grains in the 0.25 – 2.0mm size fraction. The samples also showed the presence of forsterite olivine and metamorphic massive sulphide indicator minerals (“MMSIM’s”), chalcopyrite and low chrome diopside.

Initial interpretation of the chromite grains and forsterite olivine together with the MMSIM’s is suggestive of a non-kimberlite source rock which is indicative of additional targets for mineralisation within Karelian’s licence area.

Relating these results to the Tellus geochemical and geophysical programmes, carried out by the Northern Ireland Government in the mid 2000s, provides insight to possible sources of the chromite mineralisation.

The Tellus project proved the presence of elevated levels of nickel, copper, chromium, platinum and palladium in the area of the Company’s licence. Interpretation suggests these geochemical enrichments are associated with Palaeocene dykes which crosscut the area.

Relating these results with other sampling programmes in known areas of Nickel–Copper–Platinum mineralisation globally indicates the Company’s data should be considered as highly anomalous.

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.

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