REG - Botswana Diamonds - Thorny River Environmental Authorisation Obtained

Botswana DiamondsAnnouncement

29/11/2024 07:00

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RNS Number : 0893O  Botswana Diamonds PLC  29 November 2024

 

29 November 2024

 

Botswana Diamonds PLC

("Botswana Diamonds" or the "Company")

 

Environmental Authorisation Obtained for Thorny River in South Africa

 

Botswana Diamonds plc, (AIM: BOD) the London AIM and Botswana Stock Exchange
listed diamond company, is pleased to announce that the Company has received
environmental authorisation from Department of Mineral Resources and Energy on
one of its two Mining Permit applications on the Thorny River project.
Following further community consultation, a Mining Permit should be granted
within the next 6 weeks.

 

Two Mining Permits were applied for in late 2022 on the Thorny River project
following a comprehensive exploration programme which included ground
geophysics, drilling and bulk sampling and a positive mine planning exercise
carried out by an independent consultant.

 

Thorny River is six kilometers away from Marsfontein where a recent proof of
concept operation was concluded. Thorny River consists of a kimberlite blow on
a kimberlite dyke system (ie very similar to Marsfontein) and assuming
mid-range diamond values of $170/ct, mid-range mining costs, a discount rate
of 10% and a recovered grade of 40cpht suggests that 1.7M tons of kimberlite
could be mined over the life of mine.

 

Chairman, John Teeling, commented: "We are delighted to see that this
authorisation has come through and we anticipate that the mining permit will
soon be granted.  The Thorny River project is well placed to restart and
expand mining operations when prices recover".

 

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 3204

 BlytheRay

Megan Ray
 Said Izagaren

 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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