Data licence agreement signed with Petra Diamonds

RNS Number : 6210D

Botswana Diamonds PLC

21 October 2022

 

21^st October 2022

Botswana Diamonds PLC

("Botswana Diamonds" or the "Company")

Data licence agreement signed with Petra Diamonds on the Reivilo kimberlite cluster

Further to the announcement on 6 September 2022 that Botswana Diamonds had been awarded a prospecting licence over the Reivilo kimberlite cluster, the Company is now pleased to announce that it has entered into a data licence agreement with Petra Diamonds, the previous holder of the Reivilo licence, to have access to the full library of data on Reivilo held by Petra Diamonds.

The data licence agreement grants Petra Diamonds a 3% royalty on any production revenue generated from the Reivilo prospecting licence in return for access to all of the Petra Diamonds data accumulated during their work on the licence.  Botswana Diamonds will review this data prior to finalising its own exploration programme.

Previous exploration work conducted by Petra Diamonds on the Reivilo ground delineated a cluster of three kimberlite pipes, with sizes of 3.1 hectares, 1.7 hectares and 0.9 hectares all within a 250-metre radius.  Samples of the drilling core produced G10 and Eclogitic Garnets which are the optimal indicators for diamondiferous kimberlites.

Reivilo is located in the Barkley West area of South Africa 110 kilometres from the active Finsch diamond mine.

John Teeling, chairman, commented; "Once Petra gave up the Reivilo ground as part of their restructuring we applied. Having won the licence, we then negotiated with Petra to obtain their exploration data. This is the agreement announced today. Having access to this information will save BOD time and money. The Reivilo cluster of kimberlites is a priority target for BOD" .

Qualified Person

This release has been approved by James Campbell, Managing Director of Botswana Diamonds plc, a qualified geologist (Pr.Sci.Nat), a Fellow of the Southern African Institute of Mining and Metallurgy, the Institute of Materials, Metals and Mining (UK) and the Geological Society of South Africa and who has over 35-years' experience in the diamond sector. 

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The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The person who arranged for the release of this announcement on behalf of the Company was James Campbell, Director.

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	[phone] [phone] [phone]
Beaumont Cornish - Nominated Adviser  Michael Cornish Roland Cornish	[phone]
Beaumont Cornish Limited - Broker  Roland Cornish Felicity Geidt	[phone]
First Equity Limited -  Joint Broker  Jason Robertson	[phone]
BlytheRay - PR Megan Ray Rachael Brooks Said Izagaren	[phone] [phone] [phone] [phone]
Teneo Luke Hogg Alan Tyrrell	[phone] [phone]

www.botswanadiamonds.co.uk

ENDS

 

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