Completion of initial fieldworks at PL117 licence

RNS Number : 1523D

Botswana Diamonds PLC

26 March 2014

 



26^th March 2014

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

Completion of initial fieldworks at PL117 licence

Botswana Diamonds (AIM:BOD), today is pleased to announce that the initial, planned fieldworks at its joint-venture prospecting licence, PL 117/2011, in the Orapa region of Botswana have been completed on schedule and on budget.

PL 117/2011 is a small, 2.9sq km, area of ground that was identified as the highest level priority target under the joint venture that Botswana Diamonds operates with the Russian diamond major, Alrosa.

A combined team of senior geologists and geophysicists from both companies embarked upon a rapid and intensive work programme designed to identify drill targets on the licence. Work carried out on the ground included magnetic, electromagnetic and geochemical surveys. The geochemical samples are now being shipped to the Alrosa laboratory in St Petersburg, Russia, for mineralogical analysis. Simultaneously the interpretation and modelling of the geophysical fieldwork is ongoing.

PL 177/2011 is well-known to Botswana Diamonds as it was previously drilled in collaboration with De Beers between 2004-2007 whereby the diamondiferous kimberlite pipe, AK10, was discovered on this ground. Our current work programme has been designed to re-evaluate the potential of this ground and possibly drill successfully to augment the existing resource.

As anticipated the correct indicator minerals were discovered during this phase of work. The outcome of the analysis work in St Petersburg is expected to be produced within the coming two months and this should give the joint venture clear drill targets. As soon as the results have been analysed a drill programme will be implemented by the joint venture.

John Teeling, Chairman of Botswana Diamonds, said;

"We identified licence PL117 as a key target. We have done the initial ground work with our Russian partners; the samples are on their way to Russia and applying Alrosa's in-house analytical capabilities we shall hopefully locate the new drill targets, which we shall drill in short order.

"I am delighted with this first collaboration on the ground with our JV partner; the two teams worked successfully together. The combination of their technological skills and our local diamond knowledge is a big asset to both parties, and I look forward to announcing soon that we are preparing to drill on PL117.

"Additionally we await the formal awarding of the new prospective licences, which we remain confident will be successfully applied for with the Department of Mines in Botswana. These areas, which have been identified as top-priority targets by the joint venture, will also be worked under a continued, joint work programme.

"As I have stated before, these are exciting times for our company, and we believe, for Botswana, as a world-leading diamond-producing country."

Enquiries:

Botswana Diamonds PLC
John Teeling, Chairman	[phone]
Jim Finn, Director
Westhouse Securities Limited
Richard Baty	[phone]
Hugo Rubinstein
Dowgate Captial Stockbrokers Limited
Jason Robertson	[phone]
African Alliance Botswana Securities
Kabelo Mohohlo	[phone]
Oratile Leburu	[phone]
Blytheweigh	[phone]
Tim Blythe	[phone]
Halimah Hussain	[phone]
Camilla Horsfall	[phone]
Pembroke Communications
Natalie Tennyson	[phone]
Alan Tyrrell	[phone]

www.botswanadiamonds.co.uk

 

END

 

 

MSCBUGDXUDDBGSU