Last checked at 4 Oct 2017 15:59
4th October 2017
Botswana Diamonds PLC
("Botswana Diamonds" or the "Company")
Thorny River Project - 8 Additional Holes to be Drilled on New Anomaly
The board of Botswana Diamonds (AIM: BOD) are pleased to provide an update on the Thorny River Project ("Thorny River"), referred to as the Zebediela Project in previous announcements.
Highlights:
· Drilling extended at Thorny River to test a new anomaly on the Hartbeesfontein licence;
· Bulk Sampling to commence shortly, with the aim of recovering enough diamonds to take total diamond recovery on site up to 500 carats; and
· Inferred Mineral Resource Estimate expected by year end.
John Teeling, Chairman, commented;
"We are making excellent progress in South Africa. The recently completed geophysical survey identified an anomaly on the Hartbeesfontein farm which may be a kimberlite pipe. We are now drilling an additional 8 holes on this anomaly to test this.
"We are also commencing a bulk sample in order to obtain enough data to produce a statistically valid estimate of grade and diamond value. We expect to have an inferred resource by year end."
Further Detail:
At Thorny River, the detailed ground geophysics study has been completed on the kimberlite dyke system. The planned delineation drilling on the Frischgewaagt and Doornriver farms is also largely completed. Geophysics discovered a significant anomaly on an adjacent farm, Hartbeesfontein. This could be a kimberlite blow/pipe. The Company is drilling eight holes on this new anomaly.
The proposed Large Diameter Drilling (LDD) programme is being replaced by a bulk sample with the aim of taking total diamond recovery on site up to 500 carats. This will enable greater accuracy in the grade and diamond value estimation. This work programme is targeting a maiden Inferred Resource by the end of the year.
The Thorny River project is located some 2 km east of the mined out Marsfontein pipe which measured 0.4 hectares in size and which produced 1.8 million carats of diamonds at an average grade of 172 carats per hundred tons (CPHT). Commissioned in 1998, the operations at Marsfontein delivered a payback on investment in less than 4 days.
This release has been approved by James Campbell, Managing Director of Botswana Diamonds plc, a qualified geologist (Pr.Sci.Nat), a Fellow of the South African Institute of Mining and Metallurgy, a Fellow of Materials, Metals and Mining with over 31-years' experience in the diamond sector.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
ENDS
Enquiries:
Botswana Diamonds PLC |
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John Teeling, Chairman | +353 1 833 2833 |
James Campbell, Managing Director | +27 83 457 3724 |
Jim Finn, Director |
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Northland Capital Partners Limited |
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David Hignell/Gerry Beaney (Corporate Finance) | +44 (0) 203 861 6625 |
John Howes (Broking) |
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Blytheweigh | +44 (0) 207 138 3204 |
Camilla Horsfall | +44 (0) 781 784 1793 |
Nick Elwes | +44 (0) 783 185 1855 |
Teneo PSG |
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Luke Hogg | +353 (0) 1 661 4055 |
Alan Tyrrell | +353 (0) 1 661 4055 |
www.botswanadiamonds.co.uk