Botswana Diamonds PLC Thorny River Project - Update (9291E)
February 15 2018 - 1:00AM
UK Regulatory
TIDMBOD
RNS Number : 9291E
Botswana Diamonds PLC
15 February 2018
15(th) February 2018
Botswana Diamonds PLC
("Botswana Diamonds" or the "Company")
Thorny River Project - Update
Highlights:
-- Further analysis of the work completed to date has led to an
updated estimate of the diamond value range of US$120-US$220 per
carat.
-- The estimated diamond grade range remains at 46-74cpht.
-- The estimated volume range remains at 1.2 -2.1 million tonnes of kimberlite.
The Board of Botswana Diamonds (AIM: BOD) is pleased to announce
that a Scoping Study has commenced to determine the potential
commerciality of the Thorny River Diamond Project.
The study will further refine the volumes of diamonds in-situ,
the grade and the value per tonne of ore. A critical aspect will be
to evaluate the processing and mining options. This work is
expected to take up to six months.
John Teeling, chairman, commented:
"We are satisfied that we now have a better understanding of the
geology and metrics of the Thorny River deposit. What is emerging
is a project with similar metrics to the neighbouring Klipspringer
Mine. We are now undertaking a detailed study to refine our
processing, geological and commercial parameters."
Further Detail:
The Thorny River Project is a consolidation of the
Frischgewaagt, Hartbeesfontein and Doornrivier properties into a
2,771 hectare area in the Limpopo Province of South Africa. It
comprises the eastern extension of the kimberlite dyke/pipe systems
on which the Klipspringer & Marsfontein Mines are located, both
of which have been economically mined.
Extensive drilling, geophysics and sampling work has been
undertaken at Thorny River during the last twelve months. Initial
results from this fieldwork were announced on 25(th) January 2018,
and further analysis of these results has since been carried
out.
Following this analysis, the results, which are based on the
Company's internal models and forecasts, are summarised below:
-- Value (updated): Modelled diamond value range of US$120 /
carat - US$220 / carat.
-- Value/tonne (updated): In-situ value of US$55 - US$160 / tonne.
-- Volume (unchanged): Estimated 1.2 million - 2.1 million
tonnes of kimberlite to a depth of 100m.
-- Grade (unchanged): Modelled in-situ grade range of 46 carats
per hundred tonnes (cpht) - 74cpht.
The above result compares favourably with the published
Indicated Resource grade of the neighbouring Klipspringer Mine of
49 carats per hundred tonnes and diamond value of US$130 / carat
(2010 value), and value per tonne of US$64 / tonne.
The Klipspringer Mine is in the process being acquired by
Greenhurst Mining.
This release has been approved by James Campbell, Managing
Director of Botswana Diamonds plc, a qualified geologist
(Pr.Sci.Nat), a Fellow of the South African Institute of Mining and
Metallurgy, a Fellow of the Institute of Materials, Minerals and
Mining with over 32-years' experience in the diamond sector.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
ENDS
Enquiries:
Botswana Diamonds PLC
John Teeling, Chairman +353 1 833 2833
James Campbell, Managing
Director +27 83 457 3724
Jim Finn, Director
Northland Capital Partners
Limited
David Hignell/Gerry Beaney
(Corporate Finance) +44 (0) 203 861 6625
John Howes (Broking)
SVS Securities Plc +44 (0) 203 700 0100
Tom Curran
Ben Tadd
Blytheweigh +44 (0) 207 138 3204
Camilla Horsfall +44 (0) 781 784 1793
Nick Elwes +44 (0) 783 185 1855
Teneo PSG
Luke Hogg +353 (0) 1 661 4055
Alan Tyrrell +353 (0) 1 661 4055
www.botswanadiamonds.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
UPDBRGDDSDBBGIS
(END) Dow Jones Newswires
February 15, 2018 02:00 ET (07:00 GMT)
Botswana Diamonds (LSE:BOD)
Historical Stock Chart
From Apr 2024 to May 2024
Botswana Diamonds (LSE:BOD)
Historical Stock Chart
From May 2023 to May 2024