REG - Botswana Diamonds - Second significant anomaly discovered in Kalahari

Botswana DiamondsAnnouncement

11/04/2024 07:00

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RNS Number : 1006K  Botswana Diamonds PLC  11 April 2024

 

11 April 2024

 

Botswana Diamonds PLC

("Botswana Diamonds" or the "Company")

 

Second significant anomaly discovered in the Kalahari close to the Botswana
Diamonds owned KX36 deposit, drilling planned.

 

Botswana Diamonds plc, (AIM: BOD) has discovered a second anomaly close to the
anomaly previously announced on 23(rd) January 2024. The first is c.12
hectares in size and the second contiguous anomaly is c.6 hectares in size.
The Company has started planning the drill phase of the two significant
anomalies in the Kalahari of Botswana and an Environmental Impact Assessment
("EIA") has commenced, as a prelude to drilling. It is anticipated that five
holes will be drilled on the two anomalies.

 

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

 

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

 

John Teeling, Chairman, commented: "The discovery of a second anomaly, which
we believe is about six hectares in size, adjacent to that previously
announced, is further good news. Additional work indicates that the first
anomaly could be 12 hectares in size. Both anomalies are close to our 100%
owned KX36 diamond discovery, which is 3.5 hectares in size and contains an
indicated and inferred estimate of 8.70 million carats. The anomalies need to
be drilled".

 

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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