Karelian receives Lahtojoki licences

Finland-focussed diamond exploration company Karelian Diamond Resources announced on Wednesday that the diamond mining permit for the recently-acquired Lahtojoki project has been formally transferred from A&G Mining Oy, along with all of the claim reports and additional technical material.

The AIM-traded company said transfer approval from the Finnish Safety and Chemical Agency was also received.

Its board said the Lahtojoki diamondiferous pipe is situated in a 55-hectare claim area in the Kuopio-Kaavi area of Finland, a “highly favourable location with excellent infrastructure including good road access and power availability.”

The company said it believes the Lahtojoki pipe has the potential to become a profitable low-strip open-pit diamond mine.

“I am delighted that the formalities regarding the acquisition have been completed,” said Karelian Diamond Resources chairman Professor Richard Conroy.

“We look forward to immediately reviewing the technical data which has been received.

“The acquisition of the Lahtojoki diamond pipe mining permit complements our existing licences and is a major step forward for our diamond programme in Finland,” Conroy explained.