LONDON (Alliance News) - Botswana Diamonds PLC Wednesday said its initial planned fieldworks at its joint venture prospecting licence PL117/2011 in Botswana have been completed on time and on budget.
The diamond miner said that the PL117/2011 site is a 2.9 square kilometre zone identified as a high priority target under the joint venture that Botswana Diamonds operates with Russian diamond major Alrosa Group.
The company said the intensive work programme included magnetic, electromagnetic and geochemical surveys, while the geochemical samples are now being shipped to the Alrosa laboratory in St Petersburg for mineralogical analysis.
Botswana said that, as anticipated, indicator minerals were discovered during this phase of work, and it expects the outcome of the analysis work to be produced within the coming two months giving the joint venture clear drill targets.
The company said that, as soon as the results have been analysed, a drill programme will be implemented by the joint venture.
Botswana Diamonds shares were up 1.2% to 2.66 pence Wednesday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Botswana Diam (BOD)