Botswana Diam Regulatory News (BOD)

27 November 2024

Botswana Diamonds PLC

("Botswana Diamonds" or the "Company")

Environmental Authorisation Obtained to drill in the Kalahari in Botswana

Botswana Diamonds plc, (AIM: BOD) the London AIM and Botswana Stock Exchange listed diamond company, is pleased to announce that the Company has received environmental authorisation from Department of Environmental Protection, Ministry of Environment and Tourism to drill its two targets in the Kalahari, Botswana.

The proposed drilling programme will focus on two gravity anomalies of twelve and six hectares close to the Company's KX36 discovery, which are of particular interest to the Company. The new kimberlites targets have great potential to upgrade the existing resources in the area, including at the Ghaghoo Mine, which is currently under care and maintenance and 60 km away from the Company's KX36 diamond discovery. The KX36 project is a 3.5 Ha kimberlite pipe in the Kalahari. The pipe has resources of 17.9Mt at 35 carats per hundred tonnes ("cpht") (indicated) and 6.7Mt at 36 cpht (inferred) at $65/ct. The modelled grade range is 57-76 cpht at an estimated diamond value of up to $107/ct.

Subject to securing the necessary funding, the Company would target commencement of its drilling programme during the Kalahari dry season (April to October) next year.

Chairman, John Teeling, commented: "The receipt of environmental authorisation, following submission and approval of our environmental impact assessment, in Botswana is significant. We believe that further diamond discoveries will be made in Botswana, and we believe that the Kalahari will be the next diamond province in Botswana. We own 100% of KX36 - a significant diamond discovery in the Kalahari, the sole kimberlite discovered in the area. But kimberlites come in clusters. Our work to date and ongoing analysis has identified anomalies in the vicinity of KX36 and the closed Ghaghoo mine 60kms away. We now have the necessary approval to drill these targets".

This release has been approved by James Campbell, Managing Director of Botswana Diamonds plc, a qualified geologist (Pr.Sci.Nat), a Fellow of the Geological Society of South Africa, a Fellow of the Southern African Institute of Mining and Metallurgy, a Fellow of the Institute of Materials, Metals and Mining (UK) and with over 38-years' experience in the diamond sector.

A copy of this announcement is available on the Company's website, at www.botswanadiamonds.co.uk

Enquiries:

www.botswanadiamonds.co.uk

ENDS