Experts from the Institute of Geology and Mineralogy at the Siberian branch of the Russian Academy of Sciences claim that new major Arctic diamond deposits may be discovered soon, RIA Novosti reported citing the Institute's director and Academy member Nikolai Pokhilenko.

"We have confirmed prospects for discovering new Arctic diamond deposits, and we have obtained results proving the existence of new diamond-bearing kimberlite fields," Pokhilenko said. This includes the northeastern section of the Siberian geological plate where at least three formations with high kimberlite content dating to the mid-Paleozoic era are located, he said.

"We and Rosgeologiya have agreed to start working in this area in 2017. This is a border area. There are plans to work here for three years and to pinpoint the diamond fields. Our institute will act as the main contractor, with Yakutskgeologiya also working here. Some 120 million rubles will be allocated for the project," Pokhilenko said.

The institute has also obtained data on new promising diamond deposits located south of the Udachnaya kimberlite pipe in the so-called Markha-Morkokinskoye region between two local rivers, he noted. "A diamond-bearing kimberlite field is also located there. Alrosa and Rosgeologiya are interested in our findings, and joint projects are being contemplated," the scientist said.