Karelian Diamond Resources plc recently announced that the Lahtojoki South ore exploration permit, granted to the Company in January 2018, has become legally valid as per information received from the relevant authority on January 8, 2020.

“The Lahtojoki South exploration permit, which covers 28.8 hectares, is of particular interest to Karelian Diamonds as it is situated close to the Lahtojoki diamond deposit, in the Kaavi region of Finland, over which the Company has a mining concession,” the Company stated.

Karelian Diamonds noted that the exploration permit includes the area in which kimberlite boulders were discovered, to the south west of the Lahtojoki diamond deposit, and extends over 400m up-ice from the boulder discovery site.

“The nature of the boulder material (an altered hypabyssal kimberlite, announced 12 January 2017) shows that it is not derived from the Lahtojoki kimberlite (a diatreme filled with tuffisitic or tuffisitic breccia kimberlite),” the Company clarified.

This, as well as the location of the boulders, has led the Company to believe that the boulders are from an undiscovered kimberlite up ice from their initial discovery site. 

A little while back, in August 2017, the Company had announced the findings of a Preliminary Economic Assessment (PEA) on the Lahtojoki Diamond deposit which had stated that the deposit was economically viable.

Professor Richard Conroy, Chairman, Karelian Diamond Resources plc commented: “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.”