Karelian posts positive findings in hunt for Green Diamond source

Karelian Diamond Resources said in an update on Tuesday that positive findings from basal till samples collected up-ice from the green diamond discovery site had brought it closer to identifying the source of the Kuhmo Green Diamond, previously unveiled on 31 January 2017.

The AIM-traded firm said the results, delivered by Overburden Drilling Management (ODM) in Canada, shed light on various target locations in Finland's Kuhmo region.

It said the locations, identified through geophysics and kimberlitic indicator analysis, sat up-ice from the original green diamond discovery site.

Samples from two locations yielded significant findings, revealing the presence of 36 purple to red peridotitic garnets, with six falling within the larger size range of 0.5 to one millimetre.

Additionally, partial alteration mantles, known as 'Kelyphitic rims', were seen on the peridotitic garnets.

The existence of the G9/10 peridotitic garnets suggested that the material sampled hailed from the region where diamonds form, known as the diamond stability field.

Even more promising was that the number, size, and presence of Kelyphitic rims on the peridotitic garnets strongly indicated proximity to a kimberlite source, Karelian explained.

It said it was plausible that the kimberlite source could be the origin of the green diamond.

Furthermore, orange mantle garnets were also discovered in samples from the two locations.

The orange mantle garnets could encompass eclogitic pyrope almandine garnets, which are noteworthy for their association with richer diamond grades.

Testing the orange mantle garnets would be the next step to determine the presence of eclogitic mantle materials.

Conversely, kimberlite indicator minerals were notably absent in locations further up-ice from the two promising spots.

That absence, coupled with geophysical data, suggested that the kimberlite indicator mineral train ended at an electromagnetic geophysical anomaly.

Within that anomaly, the elusive kimberlite source of the green diamond could reside.

The board said the absence of indicator minerals in samples taken further up ice strengthened the case for the green diamond's kimberlite source being closer to the targeted area.

"These results are most encouraging and are a major step forward in the company's diamond exploration programme, in the highly prospective Kuhmo region," said chairman Richard Conroy.

"They also suggest that we may be getting very close to locating the source of the green diamond which the company discovered."

Reporting by Josh White for Sharecast.com.