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Vutomi Joint Venture - Exploration Update

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RNS Number : 4216Q
Botswana Diamonds PLC
12 September 2017
 

12th September 2017


 

Botswana Diamonds PLC

("Botswana Diamonds" or the "Company")

 

Vutomi Joint Venture - Exploration Update

 

Botswana Diamonds, the AIM and BSE listed explorer (AIM: BOD), is pleased to announce a further update on its Vutomi Joint Venture in South Africa.

 

Highlights:

·     17 Holes Drilled on the Zebediela Project ("Zebediela");

·     Large Diameter Drilling is scheduled to commence in October on Zebediela; and

·     Geophysics outlines the size of the Kimberlite Discovery at Ontevreden as a minimum of 100 metres x 70 metres.

 

 

Seventeen reverse circulation percussion holes have been drilled on Zebediela on the farms Frischgewaagt, Hartbeesfontein and Doornrivier in the Limpopo Province of South Africa.  These holes have been drilled to further delineate the extensive kimberlite pipe/fissure system and as pilot holes for a Large Diameter Drilling programme which is scheduled to commence next month.  This, along with previous geological and resource development work, is targeting the declaration of an Inferred Resource on the project by the end of the year. Zebediela is located in close proximity to the De Beers / SouthernEra Marsfontein Mine, which had an average grade of 172cpht and diamond value of US$128/ct and with a capital payback of less than 4-days.

 

At Ontevreden, the Company's latest kimberlite discovery in the North West Province of South Africa, detailed ground geophysics has been completed producing a minimum anomaly size of 100 metres x 70 metres.  Samples of the high interest Group 2 kimberlite have been taken for kimberlitic indicator analyses and these are currently being processed through in-house facilities.  The grains will be microprobed at the University of Johannesburg.  Ontevreden is close to Petra's Helam Mine which has grades running as high as 500 cpht and diamond value of US$255/ct.

 

John Teeling, the Company's Chairman, commented, "Intensive exploration is ongoing at our two main projects in South Africa, Zebediela and Ontevreden. At Zebediela the drilling has identified where best to site the Large Diameter Drill programme beginning in October 2017. At Ontevreden, geophysics has outlined the size of the previously announced Group 2 kimberlite discovery which is currently estimated at 100m x 70m metres."

 

 

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               

 

This release has been approved by James Campbell, Managing Director of Botswana Diamonds plc, a qualified geologist (Pr.Sci.Nat), a Fellow of the South African Institute of Mining and Metallurgy, a Fellow of Materials, Metals and Mining with over 31-years' experience in the diamond sector. 

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

 

ENDS



 

Enquiries:

 

Botswana Diamonds PLC


John Teeling, Chairman

+353 1 833 2833

James Campbell, Managing Director

+27 83 457 3724

Jim Finn, Director


Northland Capital Partners Limited


David Hignell/Gerry Beaney (Corporate Finance)

+44 (0) 203 861 6625

John Howes/Bonnie Hughes (Broking)


Blytheweigh

+44 (0) 207 138 3204

Camilla Horsfall

+44 (0) 781 784 1793

Nick Elwes

+44 (0) 783 185 1855

Teneo PSG


Luke Hogg

+353 (0) 1 661 4055

Alan Tyrrell

+353 (0) 1 661 4055

 

www.botswanadiamonds.co.uk

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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