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Pin to quick picksBotswana Diam Regulatory News (BOD)

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Initial Outcome of Fieldwork at PL117 Licence

Wed, 30th Apr 2014 07:00

RNS Number : 8325F
Botswana Diamonds PLC
30 April 2014

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30 April 2014

Botswana Diamonds plc ("Botswana Diamonds" or the "Company")

Positive Results from Initial Analysis of Exploration on PL117 in Orapa

Two Drill Targets identified

Potential for new kimberlites

Botswana Diamonds (AIM:BOD), announces today that initial fieldwork has successfully been completed on schedule and on budget on PL 117. This is a 2.9 square km area in Orapa identified as the highest level priority target by the Company's partner, Russian diamond major, Alrosa.

The results show scope for discovery of new kimberlite pipes, particularly in the north of the block. Two drill targets have already been identified and we anticipate that further drill targets will be identified as the second batch of mineralogical samples is fully analysed over the coming months. A specific drilling programme will then target areas of highest potential.

A combined team of senior geologists and geophysicists from both companies undertook an intensive work programme to identify drill targets on the licence. Innovative magnetic and electromagnetic geophysical surveys were conducted, and a new map of the magnetic field revealed. In addition, heavy mineral sampling was carried out. Some of these samples have already been analysed and interpreted at Alrosa's world-class proprietary laboratory in St Petersburg, Russia. A second, larger batch of samples is currently on its way to Russia for priority mineralogical analysis.

In addition Alrosa believes that its analysis of geophysical data and the diamond indicator minerals has highlighted potential on ground in the region of PL117; ground which Botswana Diamonds has applied for and expects to be awarded.

A work programme is now being prepared for the new ground.

John Teeling, Chairman of Botswana Diamonds, said;

"This is great news. As we hoped, we have now got drill targets identified on PL117. There may well be more to come. We shall await the conclusion of the Alrosa analysis on the second batch of samples, and then we will launch our drill programme.

"We are also becoming increasingly bullish on some areas apart from PL117.

"We were confident that bringing Alrosa to Botswana would be a positive move, and I am delighted that this view is already being vindicated. Combining our knowledge on the ground and their world-class exploration skills is a major plus. Alrosa is bringing something new to the table, and that is exactly what we hoped for. New thinking and new techniques suggest that there are undiscovered diamond-bearing kimberlites on or near our acreage.

"I look forward to announcing further developments in due course. "

Enquiries:

Botswana Diamonds PLC

John Teeling, Chairman

+353 1 833 2833

Jim Finn, Director

Westhouse Securities Limited

Richard Baty

+44 (0) 20 7601 6100

Hugo Rubinstein

Dowgate Captial Stockbrokers Limited

Jason Robertson

+44 (0) 129 351 7744

African Alliance Botswana Securities

Kabelo Mohohlo

+267 364 3954

Oratile Leburu

+267 364 3977

Blytheweigh

+44 (0) 20 7138 3204

Tim Blythe

+44 (0) 7816 924 626

Halimah Hussain

+44 (0) 7725 978 141

Camilla Horsfall

+44 (0) 7817 841 793

Pembroke Communications

Natalie Tennyson

+353 1 649 6486

Alan Tyrrell

+353 1 649 6486

www.botswanadiamonds.co.uk

This information is provided by RNS
The company news service from the London Stock Exchange
END
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