REG - Botswana Diamonds - Preliminary kimberlite assessment completed

Botswana DiamondsAnnouncement

12/01/2022 07:00

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RNS Number : 1211Y  Botswana Diamonds PLC  12 January 2022

12th January 2022

 

Botswana Diamonds PLC

("Botswana Diamonds" or the "Company")

 

Preliminary kimberlite assessment completed on Thorny River

 

Botswana Diamonds ('BOD') the AIM and BSE listed diamond explorer, is pleased
to announce that a preliminary kimberlite assessment has been completed on its
Thorny River diamond prospect in South Africa.

 

Highlights

 

·    Projected kimberlite volume significantly increased to an estimated 2
million tonnes.

·    Economic study of mining options initiated.

·    Four further potential blow targets identified: potential to further
increase kimberlite volume.

 

John Teeling, chairman, commented: "The estimated kimberlite volume in the
River area is considerably better than expected. Botswana Diamonds will now
determine the mining potential.  Let me put this in context. The 2 million
tonnes is almost twice the size of the nearby Marsfontein deposit. We have
identified other small potential blows which could further increase the
kimberlite volume. This enhances the potential in developing a "hub and spoke"
mining project".

 

The projected volume of kimberlitic material in the River, River Extension and
in the immediate area exceeds previous estimates and is now believed to be
circa 2 million tonnes.  For reference, the nearby former De Beers /
SouthernEra Marsfontein mined volume was in the order of 1 million tonnes. The
volume estimate was determined by the Company based on an external volumetric
assessment and includes only areas on strike to drilling to date.

 

Botswana Diamonds is studying mining options for the kimberlite complex. No
assessment of potential diamond grade has been made at this stage.

 

The analysis considered all available drill-hole data, in addition to ground
gravity, electromagnetic and magnetic data, and used an industry standard
process of forward modelling and inversion.  This technique allows all the
available data to be used to create the best fit geological model and is
particularly useful where there is complex geology, such as the Thorny River
area.

 

Elsewhere on the Thorny River property four potential further blows have been
identified and will be defined with detailed ground geophysics and drilling.
Potential exists for the River blow to be the hub with other blows feeding a
central processing plant in a 'hub and spoke' mining model.

 

James Campbell arranged the release of this announcement on behalf of the
Company.

 

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
 Beaumont Cornish - Nominated Adviser     +44 (0) 020 7628 3396

Michael Cornish

 Roland Cornish
 Beaumont Cornish Limited - Broker        +44 (0) 207 628 3396

Roland Cornish

 Felicity Geidt
 First Equity Limited -  Joint Broker     +44 (0) 207 374 2212

Jason Robertson
 Blytheweigh - PR                         +44 (0) 207 138 3206

Megan Ray

Rachael Brooks                          +44 (0) 207 138 3553

 Said Izagaren                            +44 (0) 207 138 3206

 Naomi Holmes                             +44 (0) 207 138 3206

                                          +44 (0) 207 138 3206
 Teneo

 Luke Hogg                                +353 (0) 1 661 4055

 Alan Tyrrell                             +353 (0) 1 661 4055

 Ciara Wylie                              +353 (0) 1 661 4055

 

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

 

 

ENDS

 

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