Last checked at 11 Apr 2024 07:00
11 April 2024
Botswana Diamonds PLC
("Botswana Diamonds" or the "Company")
Second significant anomaly discovered in the Kalahari close to the Botswana Diamonds owned KX36 deposit, drilling planned.
Botswana Diamonds plc, (AIM: BOD) has discovered a second anomaly close to the anomaly previously announced on 23rd January 2024. The first is c.12 hectares in size and the second contiguous anomaly is c.6 hectares in size. The Company has started planning the drill phase of the two significant anomalies in the Kalahari of Botswana and an Environmental Impact Assessment ("EIA") has commenced, as a prelude to drilling. It is anticipated that five holes will be drilled on the two anomalies.
The KX36 project is a 3.5 hectares kimberlite pipe in the Kalahari. The pipe has resources of 17.9 million tonnes ("Mt") at 35 carats per hundred tonnes ("cpht") (indicated) and 6.7Mt at 36 cpht (inferred) at $65 per carat ("ct"). The modelled grade range is 57-76 cpht at an estimated diamond value of up to $107/ct.
The new kimberlite targets have the potential to upgrade the existing resources in the area, including at the Ghaghoo Mine, which is currently under care and maintenance only 60 km away from the KX36 project.
John Teeling, Chairman, commented: "The discovery of a second anomaly, which we believe is about six hectares in size, adjacent to that previously announced, is further good news. Additional work indicates that the first anomaly could be 12 hectares in size. Both anomalies are close to our 100% owned KX36 diamond discovery, which is 3.5 hectares in size and contains an indicated and inferred estimate of 8.70 million carats. The anomalies need to be drilled".
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:
Botswana Diamonds PLC John Teeling, Chairman James Campbell, Managing Director Jim Finn, Director
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+353 1 833 2833 +27 83 457 3724 +353 1 833 2833 |
Nominated & Financial Adviser Strand Hanson Limited Ritchie Balmer Rory Murphy David Asquith
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Broker First Equity Limited Jason Robertson
| +44 (0) 207 374 2212 |
Public Relations BlytheRayMegan Ray Said Izagaren
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Teneo Luke Hogg Alan Tyrrell Fia Long Alan Reynolds
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+353 (0) 1 661 4055 +353 (0) 1 661 4055
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www.botswanadiamonds.co.uk
ENDS