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Karelion Diamond has announced new results from its ongoing diamond exploration programme in the Lahtojoki South exploration area.
The results indicate that an undiscovered, potentially diamondiferous, Kimberlite body may exist in the vicinity of the Lahtojoki diamond deposit.
Professor Richard Conroy, chairman of Karelion Diamond plc, said: 'The results indicate that an additional kimberlite source could exist in the vicinity of the Lahtojoki diamond deposit which the company is developing to become the first diamond mine in Europe.'
A cut and polished section of a kimberlite boulder material has revealed the presence of mantle garnets.
Studies into the cut and polished section of the boulder, conducted by the Geological Survey of Finland (GTK,) have revealed a number of purple to red peridotitc garnets, several orange mantle garnets and a large number of ilmenite grains.
These minerals indicate that this boulder material represents cool magma derived from the earths mantle.
The company has said that these findings will be followed up with further investigations.
At 1:50pm: (LON:KDR) Karelian Diamond Resources PLC share price was 0p at 5.5p