DCP.L Regulatory News (DCP)

24 Nov 2009 07:30



DiamondCorp plc

JSE share code: DMC

AIM share code: DCP

ISIN: GB00B183ZC46

(Incorporated in England and Wales)

(Registration number 05400982)

(SA company registration number 2007/031444/10)

('DiamondCorp' or 'the Company')

JWANENG SOUTH DRILLING UPDATE 

HIGHLIGHTS

The second diamond borehole at J1 intersects kimberlite from 15.53 m to the end of the hole at 301.00 m vertical depth. 

Samples from the two boreholes have been shipped to Johannesburg for microdiamond recovery and interpretation. 

UPDATE

DiamondCorp, the Southern African diamond mining and exploration company, is pleased to announce an update on drilling of the J1 kimberlite in the Jwaneng South Project Area in Botswana.

The Company's second diamond drill hole J1/002 located 200 m ENE of bore hole J1/001 in the eastern portion of the approximately 10 hectare geophysical anomaly outlining the J1 kimberlite target has been completed to a vertical depth of 301 m and intersected kimberlite from 15.53 m vertically down hole to the end of the bore hole.

Logging of the core reports Kalahari sand to 15.53 m, severely calcretised kimberlite from 15.53 m to 51.05 m, weathered massive volcaniclastic kimberlite ("MVK") from 51.05 m to 107.42 m and 'relatively fresh' MVK kimberlites from 107.42 m to the bottom of the bore hole at 301.00 m.

The bore hole comprises HQ size core (63 mm diameter) from 15.53 m to 201 m, and NQ size core (47.7 mm) to the end of the hole.

Samples from the two holes have now been shipped to MSA Analytical Laboratories in Johannesburg for microdiamond recoveries. Microdiamond interpretations will be undertaken by independent experts. Petrographic analyses of the differing kimberlites will be undertaken by Mr Paul Zweistra of VP3 Geoservices (Pty) Limited ("VP3").

DiamondCorp managing director and CEO, said: 'We are pleased that J1 is emerging as a large kimberlite with the potential to host significant volumes of open pittable material. We look forward to updating the market with results from the microdiamond analysis early in 2010.' 

DiamondCorp is earning a 77.5 per cent interest in various exploration licences in Botswana from Geoperspectives (Pty) Limited by funding exploration activities. The J1 kimberlite is located 8km southeast of De Beers Jwaneng mine, the richest diamond mine in the world measured by value.

The Competent Person responsible for the technical information contained in this announcement is Mr Paul Zweistra (Pr. Sci. Nat., Registration number 400016/93) a full-time employee of VP3. VP3 and Mr Zweistra have given their permission for their work to be quoted in this announcement.

24 November 2009

London

Sponsor: Investec Bank Limited

For further information, please contact:

Paul Loudon, DiamondCorp plc

+44 20 7256 2651

Joe Nally/Liz Bowman/Ivonne Cantu, Cenkos Securities plc

+44 20 7397 8900

Robert Smith/Tanis Crosby, Investec Bank Limited

+27 11 286 7662

Charmane Russell/Matthew Ross, Russell & Associates

+27 11 880 3924

Ana Ribero/Tim Blythe, Blythe Weigh Communications

+44 20 7138 3206/+44 20 7138 3205