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Karelian Diamond Resources Plc
Summary
| Project: | Lahtojoki | |
|---|---|---|
| Deposit: | Lahtojoki | |
| Location: | Finland | |
| Commodities: | Diamonds | |
| Date: | 8/1/2017 | |
| Report Code: | (no Code) | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 1-8-2017: Karelian Diamond Resources Plc announces a PEA report for its Lahtojoki deposit at the Lahtojoki project. Initial PEA results incl. NPV (8%) of $39.1M, IRR of 55%, LOM of 9 years. Karelian Diamond Resources plc (“Karelian”) (AIM: KDR, ESM: KDRI) | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Not stated (n/a) | |
| ABSTRACT: | Karelian Diamond Resources plc (“Karelian”) (AIM: KDR, ESM: KDRI), is pleased to announce that it has received a Preliminary Economic Assessment (“PEA”) on its 1.6 hectare Lahtojoki diamondiferous kimberlite pipe in the Kuopio – Kaavi district in south eastern Finland (“Lahtojoki”) over which the Company holds a Mining Concession. The PEA study was carried out by Michael Brennan of Brennan Mining Services Limited, a consultant to the Company. The PEA states that analysis of combined microdiamond and mini-bulk sample data suggests a +1mm recoverable grade of 39.7 Carats Per Hundred Tonnes (cpht) and indicates the presence of high quality stones within the diamonds that have been recovered to date. Drilling indicates 5,603,584 tonnes are present to a depth of 160 metres below surface. For the purposes of the PEA US$100/carat has been used in the economic evaluation and mine design. A total resource (Non JORC) estimate is of 2,225,000 carats and a contained value of US$222.5 million. Pursuant to the PEA, it is appropriate to classify the resource into the inferred category based on the current available grade and diamond value data. Currently it is not possible to attribute reserves to Lahtojoki. Based on resource available and an appropriate technical and economic assessment it is possible to consider those resources that are likely to become mineable and economically viable subject to further exploration and feasibility work being undertaken. | |
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