Botswana Diamonds (LON:BOD) is the spin-off from Lucara Diamonds' purchase of African Diamonds, as Lucara was focused on AK6, therefore African Diamond's smaller exploration assets were bundled together to create this new vehicle. But relatively little seems to be known about this vehicle, so I decided to put some questions to Botswana’s Executive Chairman John Teeling. Unfortunately, at present, he is in Botswana working hard on getting the company on its feet, but he did kindly point me to the presentation that he is currently using in Botswana, which is definitely worth a look. Also, he very kindly briefly answered my questions via his phone, and his answers are certainly interesting, and worth a read:
DGW: I note your main prospects are AK8, AK9 and BK5, and that you plan to do sampling over this year on these projects, so can I ask when do you hope to start gathering these samples, and when do you hope to start releasing the results?
JT: Starts in March and the whole programme should take eight months with results coming in four.
*DGW: In terms of the work planned, from their website:
- AK8: Bulk sampling is planned to test the higher grade, near surface, southern lobe of the kimberlite in order to verify the diamond revenue as well as the grade.
- AK9: Portions of the kimberlite has significant overburden but bulk sampling is planned to test the near surface portions of the kimberlite in order to verify the diamond revenue (USD 26/carat), estimated from a small parcel of only 4 carats, as well as the grade.
- BK5: Further drilling and some bulk sampling is planned to constrain the geological model and to verify the grade and diamond revenue.
- PL7/2004: Follow-up sampling is planned to confirm the presence of undiscovered kimberlite pipes followed by ground geophysical survey and drilling if justified.
DGW: Is AK8 likely to be your main target due to it being the most advanced exploration wise?
JT: We will focus on BK5 as it has the greatest potential.
*DGW: Just to note none of their prospects at current look mouth watering, again from their website:
- AK8: The kimberlite has an estimated size of between 5 and 6 hectares, determined through drilling and ground geophysics. The kimberlite appears to be tri-lobate and the southern lobe (up to 2.5ha) has an…
