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LONDON (Alliance News) - Botswana Diamonds PLC on Tuesday said a number of the rediscovered kimberlites at its Free State project in South Africa were diamond producers.
Testing has confirmed the presence of kimberlites similar to other diamond mines such as Koffiefontein, Kimberley, and Jagersfontein.
Furthermore, research into the history of the mine has found anecdotal evidence of active mining in the region right up until financial collapse in the early 1880s, with attempts to re-open the mine made but never followed through.
"The Free State story is a fascinating one. Starting from document archives from well over a hundred years ago where some of these kimberlites were diamond producers to modern exploration using whole rock geochemistry, kimberlite mineral chemistry through to detailed ground geophysics. The next step is clearly drilling to determine the kimberlites current commerciality. I look forward to providing further updates regarding the drilling programme in due course," said Botswana Diamonds Chairman John Teeling.
Shares in Botswana Diamonds closed up 5.3% at 1.00 pence on Tuesday.