Botswana Diamonds PLC Preliminary kimberlite assessment completed (1211Y)
January 12 2022 - 1:00AM
UK Regulatory
TIDMBOD
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
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
Michael Cornish
Roland Cornish +44 (0) 020 7628 3396
Beaumont Cornish Limited - Broker
Roland Cornish
Felicity Geidt +44 (0) 207 628 3396
First Equity Limited - Joint Broker
Jason Robertson +44 (0) 207 374 2212
Blytheweigh - PR +44 (0) 207 138 3206
Megan Ray +44 (0) 207 138 3553
Rachael Brooks +44 (0) 207 138 3206
Said Izagaren +44 (0) 207 138 3206
Naomi Holmes +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
ENDS
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