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(Alliance News) - Botswana Diamonds PLC on Tuesday said it will commence drilling this week on its Thorny River and Marsfontein kimberlite projects in South Africa.
Kimberlite is an igneous rock, which sometimes contains diamonds.
The diamond explorer said that the first phase will see it drill six percussion holes on the Thorny River licence targeting new kimberlites, followed by three holes on the M8 dyke on the "historic" Marsfontein concession to assess the size of the proven kimberlite.
In September, Botswana Diamonds said it had identified potential kimberlite pipes buried at shallow depth on Thorny River following geophysical work. So far, the miner's Thorny River partner Subterrane has identified five target areas within the project.
In November, the company announced that it had recovered the first diamonds from plant commissioning activities on the Marsfontein mine. The company said the diamonds came from the diamond bearing gravels and residual unprocessed stockpiles surrounding the Marsfontein mine.
A second phase of drilling will follow immediately if discoveries are confirmed, Botswana Diamonds said, adding that it believes the M8 dyke has unexplored potential.
The stock was trading 8.3% higher at 0.704 pence each on Tuesday afternoon in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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