REG - Botswana Diamonds - Four anomalies identified close to KX36 project

Botswana DiamondsAnnouncement

08/12/2023 07:00

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RNS Number : 1125W  Botswana Diamonds PLC  08 December 2023

 

8(th) December 2023

 

Botswana Diamonds PLC

("Botswana Diamonds" or the "Company")

 

 

Highlights

·    Four anomalies identified close to KX36 in the Kalahari.

·    Next stage exploration starting.

 

Botswana Diamonds plc ("BOD") the London AIM and Botswana Stock Exchange
listed diamond company, is pleased to announce it is about to embark on
follow-up ground geophysics on four anomalies that were identified in the
Kalahari contiguous with the Company's KX36 project. They were identified by
the heavy mineral train flowing from KX36 where it is thought likely that
there are undiscovered buried kimberlites in the vicinity of KX36 as
kimberlites generally occur in clusters and not in isolation.

 

The KX36 project is a 3.5 Ha kimberlite pipe in the Kalahari. The pipe has
resources of 17.9Mt at 35 carats per hundred tonnes ("cpht") (indicated) and
6.7Mt at 36 cpht (inferred) at $65/ct. The modelled grade range is 57-76 cpht
at an estimated diamond value of up to $107/ct.

 

Chairman, John Teeling, commented: "Kimberlites occur in clusters, currently
only KX36 has been discovered in this particular kimberlite field in the
Kalahari so there should be more kimberlites waiting to be discovered.  This
work forms part of our emerging Kalahari strategy which could lead to this
area being a major diamond producer ".

 

Further information

 

Two anomalies identified in PL224/2007 and a further two identified in
PL169/2019 will be followed-up with Gravity and Time Domain Electromagnetic
Methods following rigorous reprocessing of aeromagnetic data.  The subtle
aeromagnetic anomalies proven by ground magnetics will be followed up with the
gravity and Time Domain electromagnetic method ("TEMFAST") and accordingly
modelled (with integrated magnetics, TEMFAST and gravity modelling) to further
verify the shapes and sizes of the targets prior to designing a drill
programme. All the targets are within a 6 km radius of our KX36 kimberlite
pipe and they may be key additions to the existing resources.

 

The new kimberlites targets have great potential to upgrade the existing
resources in the area, including at the Ghaghoo Mine, which is currently under
care and maintenance and only 60 km away from the KX36 project.

 

This release has been approved by James Campbell, Managing Director of
Botswana Diamonds plc, a qualified geologist (Pr.Sci.Nat), a Fellow of the
Geological Society of South Africa, a Fellow of the Southern African Institute
of Mining and Metallurgy, a Fellow of the Institute of Materials, Metals and
Mining (UK) and with over 38-years' experience in the diamond sector.

 

A copy of this announcement is available on the Company's website, at
www.botswanadiamonds.co.uk (http://www.botswanadiamonds.co.uk)

 

Enquiries:

 Botswana Diamonds PLC

John Teeling, Chairman

                                   +353 1 833 2833
 James Campbell, Managing Director

                                   +27 83 457 3724
 Jim Finn, Director

                                   +353 1 833 2833

 Nominated & Financial Adviser       +44 (0) 20 7409 3494

 Strand Hanson Limited

 Ritchie Balmer

 Rory Murphy

 David Asquith

 Broker                              +44 (0) 207 374 2212

 First Equity Limited

Jason Robertson

 Public Relations                    +44 (0) 207 138 3206

 BlytheRay                           +44 (0) 207 138 3553

Megan Ray

 Said Izagaren                       +44 (0) 207 138 3206

 Teneo

 Luke Hogg                           +353 (0) 1 661 4055

 Alan Tyrrell                        +353 (0) 1 661 4055

 

 

www.botswanadiamonds.co.uk (http://www.botswanadiamonds.co.uk)

 

ENDS

 

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