REG - Botswana Diamonds - Granting of Prospecting License in Eswatini

Botswana DiamondsAnnouncement

31/01/2024 07:00

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RNS Number : 4445B  Botswana Diamonds PLC  31 January 2024

 

31 January 2024

 

Botswana Diamonds PLC

("Botswana Diamonds" or the "Company")

 

Granting of Prospecting License over the diamondiferous Dokowayo kimberlite
pipes in the Kingdom of Eswatini

 

Highlights

·   Botswana Diamonds ("BOD") is part of a consortium awarded a prospecting
licence over the Dokowayo kimberlites in Eswatini, formerly Swaziland.

·    Dokowayo produced diamonds until 1996.

·    Output of Type IIA and fancy-colour stones.

·   Consortium comprises the King of Eswatini  25%, Government 25%, local
interest 15%, the Chandaria family 5% and BOD 30%. BOD will also act as
operator.

 

Botswana Diamonds plc, the London AIM and Botswana Stock Exchange listed
diamond company, is pleased to announce that a consortium of BOD, acting as
operator (30%), Mr Michelo Shakantu (15%) and the Conros Corporation owned by
the Chandaria family (5%), collectively known as Diamonds of Eswatini Pty Ltd,
has been awarded a Prospecting License over the diamondiferous Dokowayo
kimberlites in Eswatini in partnership with The Ingwenyama (His Excellency,
King Mswati III, 25%) and the Government of Eswatini (25%). Eswatini was
formerly called Swaziland and is a kingdom sitting between the borders of
South Africa and Mozambique. Nil consideration was payable by BOD for its 30%
interest.

 

The Prospecting License of just under 4,000 hectares is for an initial period
of one year and renewable for a further year. There are at least two
kimberlite pipes and three kimberlite dykes on the Prospecting License, the
largest of which (K1) is a pipe of approximately 600 metres ("m") in diameter.
K1 was mined by Transhex between 1986-1996 when 720,222 carats were recovered.
The mine was well known for producing fancy pink and Type IIA diamonds and the
largest stone recovered was 146 carats. There are also significant tailings
dumps on the property as well as a stockpile of unprocessed kimberlite. The
kimberlite resource has been internally estimated at over 10 million tonnes
("Mt") to a depth of 200m and the dumps are estimated to contain 2 Mt.

 

The plan is to undertake an immediate, updated full desktop review and
analysis of secondary sources.  Following this, bulk sampling of the dumps
and kimberlite stockpile is envisaged as the next step forward.

 

 

Chairman, John Teeling, commented: "We are delighted to have been awarded this
Prospecting License over the Dokowayo kimberlite pipe in Eswatini, which we
applied for several years ago. The pipe was last mined a long time ago and
following breakthroughs in both exploration and mining technology we are
excited about Dokowayo's potential viability, especially seeing that Dokowayo
is proven to contain both pink and Type IIA diamonds, which are greatly in
demand and fetch amongst the very highest of diamond prices".

 

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

 Fia Long

 Alan Reynolds

 

 

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

 

ENDS

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