Karelian Diamond Resources plc has intersected rock material, “associated with diamond-bearing kimberlite provinces globally” at the anomaly 5 target in Kuhmo, Eastern Finland.
LAMPROITE
The company noted that global diamond-bearing kimberlite provinces include the world-class Argyle and Ellendale diamond mines in Kimberley, Western Australia.
Two of the three holes, drilled in a “swampy area only accessible in winter”, penetrated a 35m layer of overburden, to reach the rock “provisionally interpreted to be olivine lamproite”.
Drill hole KD-26-02 intersected olivine lamproite at a depth of approximately 73.40 to 81.40m, with an interval of eight metres.
Hole KD-26-03 made its intersection at 42.90 to 46.80m, within an interval of 3.9m.
The company said it had ended the drill programme sooner than expected due to the early start of the spring thaw.
Karelian, which appointed Kimberlite expert Dr Hugh O’Brien as consultant, next plans a limited ground electromagnetic geophysical survey for more precise drill targeting.
Once conditions improve, the rig will mobilise for a test drill hole under the lake at the head of the A5 anomaly.
The company is also preparing drill core samples for detailed petrographic and geochemical analysis.
Funding for the drilling campaign came from part of the £290,000, raised in March, through the issue of unsecured convertible loan notes to existing and new investors.
Managing director Maureen Jones added: “The intersection of what appears to be lamproite rock at Anomaly 5 is a significant and encouraging development for the company.
“Olivine lamproite is a rock type of considerable interest in diamond exploration and combined with the exceptional compositions of the mantle minerals we have identified within the A5 indicator train, gives us confidence that we are close to a potentially diamondiferous olivine lamproite intrusive complex.”