Karelian Diamond Resources has announced that it has been informed that TUKES (The Finnish Mining Authority) has granted Karelian Diamonds an exploration permit in the Kuhmo region of Finland.
The permit will cover an area of 601.68 ha surrounding the location where the Company discovered a diamond earlier in the year (31 January 2017). The permit has been granted for a period of four years.
An exploration permit provides the holder with an exclusive right to apply for a mining permit.
The Company also announces that 21st December 2017 has been set as the proposed date of its Annual General Meeting. A notice convening the Annual General Meeting will be posted to shareholders in due course.
Professor Richard Conroy, Chairman, Karelian Diamond Resources plc commented:
“I am very pleased that we have been granted an exploration permit surrounding the location of our significant discovery of a green diamond and look forward to continued results from the Company’s exploration programme in the region.”
In January 2017, a diamond was discovered in one of seven samples from the Kuhmo region of Eastern Finland.
The diamond is a clear, pale green dodecahedron and measures 0.7 x 0.75 x 0.7 mm. To put the rarity of this discovery in context, ODM Laboratory* has processed more than 50,000 exploration till samples and has recovered less than 10 naturally occurring diamonds. This is a very rare and significant discovery.
Karelian announced earlier this month that it would be conducting an extensive work programme to locate the kimberlite body from which the green diamond originated. As a kimberlite body erodes over millions of years KIMs spread out to form a fan shaped train which may extend for many kilometres. The work programme is designed to identify the kimberlite train and follow it back to source.