REG - Botswana Diamonds - Mining Permit Granted for Thorny River

Botswana DiamondsAnnouncement

04/03/2025 09:45

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RNS Number : 2833Z  Botswana Diamonds PLC  04 March 2025

 

4(th) March 2025

 

Botswana Diamonds PLC

("Botswana Diamonds" or the "Company")

 

Mining Permit Granted for Thorny River

 

The board of Botswana Diamonds plc ("BOD" or "The Company") is pleased to
announce that a Mining Permit has been granted over the Company's Thorny River
project in South Africa.

 

The Thorny River project is close to the well known mined-out Marsfontein
mine. BOD has undertaken extensive geophysics, drilling and bulk sampling
along the Thorny River dyke-system. The geology and grades were consistent
with those in the nearby Klipspringer Mine to the West. Two kimberlite blows
(ie. a significant widening of the kimberlite dyke) which are commercial at
the right diamond price and which include the River and River Extension zones
within the Thorny River project were outlined. The Company applied for two
mining permits over these two zones and one has now been received.

 

Given the focus of BOD on Botswana, it was decided to use contractors to mine
the nearby Marsfontein gravels and dumps project as a "proof of concept" with
BOD receiving a 15% revenue royalty. A contractor moved on site and undertook
some trial mining. Falling diamond prices and delays in permitting resulted in
the project being put on care and maintenance in October 2023. Once diamond
prices recover, mining could resume at Marsfontein, as well as commence at
Thorny River, now that permits are in force.

 

John Teeling, Chairman, commented "At last we have received the mining permit.
We also note a small improvement in diamond prices. If the price rises are
sustained, we can look forward to the commencement of contractor mining at
Thorny River".

 

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)

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018, as amended.

 

 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 3204

 BlytheRay

Megan Ray

Said Izagaren

 Teneo

 Luke Hogg                           +353 (0) 1 661 4055

 

 

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

 

 

About Botswana Diamonds

Botswana Diamonds (BOD) is a diamond explorer focused in the Kalahari Desert,
where it holds prime diamond exploration acreage as well as KX 36 diamond
discovery. Ongoing work on the acreage has identified a five drill ready
targets. A record AI analyse of the large BOD database has identified seven
previously unreported Kimberlite anomalies as well as a number of polymetallic
anomalies.

 

ENDS

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