(Alliance News) - Botswana Diamonds PLC on Monday said it has won a five-year prospecting licence until June 2027 on ground containing the Reivilo cluster of kimberlites in the Barkley West area of South Africa.
Botswana is a London-based exploration & project development company focused on Botswana and South Africa.
Reivilo is located approximately 110 kilometres north-east of the actively producing Finsch diamond mine.
Botswana said exploration by the previous licence-holder was reported to have delineated a cluster of three kimberlite pipes, with sizes of 3.1 hectares, 1.7 hectares and 0.9 hectares, all within a 250 metre radius.
The company added that it plans to review all the available data on Reivilo prior to finalising its exploration programme.
Chair John Teeling said: "When the ground became recently available, we immediately applied for the area. Botswana Diamonds management have long been aware of the diamond potential of this ground, and so we are delighted to have finally been awarded this high-profile exploration ground and look forward to updating shareholders in the near future on developments."
Shares in Botswana were up 2.7% to 0.95 pence each in London on Monday afternoon.
By Sophie Rose; sophierose@alliancenews.com
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Botswana Diam (BOD)