Karelian Diamond Resources plc has reported that over 100 kimberlitic indicator minerals have been recovered in a sample of ore from the Riihivaara target in the Kuhmo region of Finland, indicating the nearby presence of a new kimberlite source.

Till now, in the Kuhmo region of Finland, high numbers of kimberlitic indicator minerals are normally only seen either directly over or within a hundred metres of a kimberlite source.

The company said in a statement that lab results showed high concentrations of Purple to Red peridotitic garnets and Orange mantle garnets in different sizes. The latter, particularly, is considered significant as they are formed at the same temperatures and pressures as diamonds. The garnets will now be further tested to establish whether eclogite mantle materials are present as these tend to be associated with richer diamond grades.

The Riihivaara target is located to the Southeast of Seitaperä where Karelian has earlier outlined the largest diamondiferous kimberlite pipe discovered in Finland to date.

Professor Richard Conroy, Chairman commented: “We now appear to be getting very close to or immediately over the source.”

Earlier this year, another mining company Karhu Mining Oy, in partnership with Firestone Diamonds of the UK announced plans to open Europe’s first ever diamond mine at a four-hectare open-pit mine at Lahtojoki in eastern Finland.