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(Sharecast News) - Botswana Diamonds has finished the processing of two bulk samples taken from the Marsfontein diamond development project in the Limpopo Province of South Africa, it announced on Friday.
The AIM-traded firm said the samples comprised 58 tons of fresh high-interest kimberlite, and 62 tons of kimberlitic material, from one of the residual stockpiles known as 'dump E'.
It said 87 macro diamonds were recovered from the fresh kimberlite, giving a modelled grade of 50 carats per hundred tons, while 24 macro diamonds were recovered from dump E, giving a modelled grade of 16 carats per hundred tons.
"This bulk sampling campaign, which was carried out with the company's royalty mining contractor Eurafrican Diamond Corporation, had two objectives," explained managing director James Campbell.
"The first was to test the grade of the fresh kimberlite and the second was to confirm the grades of one of the mine dumps."
Campbell said both aims were achieved, adding that proof of the fresh kimberlite grade "paved the way" for further exploration work on Marsfontein to target potential blows.
"The kimberlite grade is aligned with those achieved at Klipspringer mine and Thorny River, which are both nearby, indicating the considerable extent of the kimberlite dyke system.
"Options will be investigated on exploitation of the dumps once the nationwide lock down in South Africa is lifted and a sense of normality returns to diamond markets, post the global Covid-19 pandemic crisis."
At 1242 BST, shares in Botswana Diamonds were down 1.11% at 0.89p.
23 Mar 2016 09:10