Last checked at 4 Aug 2022 07:00
4th August 2022
Botswana Diamonds PLC
("Botswana Diamonds", "BOD" or the "Company")
Thorny River Drilling Discovers Additional Kimberlite. Mine Plan being Prepared
Botswana Diamonds plc ("BOD"), the London AIM and BSE listed diamond explorer, is pleased to announce results from its latest drilling campaign on its Thorny River diamond project in South Africa.
Highlights
· 12 reverse circulation holes completed in recent drilling campaign
· 52 metres of kimberlite found, the largest intersection being 22 metres
· 2 new blows discovered which will increase the mineable kimberlite
· Mine plan being finalised
· Mining permit application being prepared
Chairman, John Teeling commented: "We have finished exploration and now move toward mine development. We already have a good understanding of how the mine will look. The recent drilling identified the entry point for a mine. The next stage is to refine the mine model and to apply for a Mining Permit".
Detail
The objective of this drilling campaign was to expand the mineable kimberlite for the purpose of mine planning. Twelve reverse circulation holes over five targets were drilled for a total of 536m. Analysis of raw data shows that two of the targets resulted in the discovery of new sub-surface blows which will be added to the inventory, whilst one shows promise (having produced kimberlitic indicators) but needs further definition work and the remaining two targets do not merit further work. The in-hole kimberlite intersections totalled 52 metres, the longest being a vertical intersection of 22m. The two additional blows are on-strike and 200m and 700m east from the River and River Extension blows.
The next steps are to finalise a mining plan and to apply for a mining permit. A further announcement will be made in due course.
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Qualified Person
This release has been approved by James Campbell, Managing Director of Botswana Diamonds plc, a qualified geologist (Pr.Sci.Nat), a Fellow of the Southern African Institute of Mining and Metallurgy, the Institute of Materials, Metals and Mining (UK) and the Geological Society of South Africa and who has over 35-years' experience in the diamond sector.
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The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The person who arranged for the release of this announcement on behalf of the Company was James Campbell, Director.
A copy of this announcement is available on the Company's website, at www.botswanadiamonds.co.uk
Enquiries:
Botswana Diamonds PLC John Teeling, Chairman James Campbell, Managing Director Jim Finn, Director |
+353 1 833 2833 +27 83 457 3724 +353 1 833 2833 |
Beaumont Cornish - Nominated Adviser Michael Cornish Roland Cornish | +44 (0) 020 7628 3396 |
Beaumont Cornish Limited - Broker Roland Cornish Felicity Geidt | +44 (0) 207 628 3396 |
First Equity Limited - Joint Broker Jason Robertson
| +44 (0) 207 374 2212 |
BlytheRay - PRMegan RayRachael Brooks Said Izagaren Naomi Holmes | +44 (0) 207 138 3206 +44 (0) 207 138 3553 +44 (0) 207 138 3206 +44 (0) 207 138 3206 +44 (0) 207 138 3206 |
Teneo Luke Hogg Alan Tyrrell Ciara Wylie |
+353 (0) 1 661 4055 +353 (0) 1 661 4055 +353 (0) 1 661 4055 |
www.botswanadiamonds.co.uk
Beaumont Cornish Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as nominated adviser to the Company in relation to the matters referred herein. Beaumont Cornish Limited is acting exclusively for the Company and for no one else in relation to the matters described in this announcement and is not advising any other person and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to clients of Beaumont Cornish Limited, or for providing advice in relation to the contents of this announcement or any matter referred to in it.
ENDS