Botswana Diamonds PLC Update on South African Exploration Projects (2116W)
July 31 2018 - 1:00AM
UK Regulatory
TIDMBOD
RNS Number : 2116W
Botswana Diamonds PLC
31 July 2018
31(st) July 2018
Botswana Diamonds PLC
("Botswana Diamonds" or the "Company")
Update on South African Exploration Operations
The board of Botswana Diamonds (AIM: BOD) are pleased to provide
an update on the Company's exploration projects in South
Africa.
Headlines:
-- The results from the analysis of mineral chemistry on 8
kimberlites in the Free State project are positive. Drilling is the
next stage.
-- Prospecting Rights have been awarded to Vutomi over 3
kimberlites north of the Cullinan mine cluster at Palmietgat.
-- A review of the award of the Mooikloof Prospecting rights to
Vutomi by the South African Department of Mineral Resources has
been requested by a local company. We believe that the award is in
order.
Free State Kimberlites
The chemical analyses of 3,100 garnets and spinels recovered
from the 8 kimberlites rediscovered by Vutomi within the Free State
project area are complete and the results have been reviewed. These
analyses indicate high abundances of diamond inclusion type
chemical compositions, thereby rating these kimberlites as being of
high interest in terms of diamond bearing potential. The results
also indicate a preponderance of G9 and a few G10 garnets, similar
to the chemical signatures present in the neighbouring iconic mines
at Jagersfontein and at Koffiefontein. This result supports the
conclusions from the previous whole rock geochemistry and from the
geophysics. It justifies moving to a phased drilling programme.
Palmietgat Kimberlite Pipes
Botswana Diamonds is pleased to announce that Vutomi has been
granted prospecting rights to Portions 1, 3, 5 and 7 of the farm
Palmietgat, in the Limpopo Province, approximately 50km North of
Petra's Cullinan diamond mine. The Palmietgat area comprises six
diamondiferous kimberlite pipes of which three fall within the
granted prospecting rights area which is contiguous to the
Palmietgat Mine, formerly operated by Trivalence.
Trivalence extracted 63,379 cts of diamonds from Palmietgat
during 2003-4 (at which time their mining licence expired), valued
at US$60.68 per carat (US$3.846 million) and reported resources of
3.5 million tonnes at an estimated grade of 44 cpht (unknown bottom
cut-off and resource classification), to a depth of 110 metres for
three of the kimberlites. There are also substantial tailings and
residue dumps on the property.
Mooikloof Kimberlite Pipe
A group of South African businessmen have emerged claiming to
hold a valid Mining Permit (as opposed to a Mining License which
permit greater rights of tenor) over a portion of the Company's
fully notarised and registered Prospecting Right area. A Mining
Permit is a short-term licence designed for small scale typically
alluvial mining over very small areas up to 5 hectares. South
African legislation does not allow for overlapping rights. The
Company engaged with the South African Department of Mineral
Resources to review the processes which culminated in the alleged
issue of this small permit. The Company, which followed all due
processes in its application for its Prospecting Licence is
confident it holds title.
John Teeling, Chairman, commented, "Vutomi, our associate
company in South Africa, is very active. The final analyses of
samples from the 8 Free State kimberlites improves the prospects
for the pipes containing diamonds. A drilling campaign will
follow.
Furthermore Vutomi has been awarded a prospecting licence close
to the famous Cullinan mine over 3 kimberlite pipes known to
contain diamonds. This is a valuable addition to our portfolio of
exploration assets.
Despite obtaining a fully notarized and registered prospecting
right on Mooikloof from the South African Department of Mineral
Resources a local company claims they have a mining permit over 5
hectares of the property. We believe that our title is clear and
will provide further updates regarding the claim as
appropriate."
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/Dugald J Carlean
(Corporate Finance) +44 (0) 203 861 6625
Rob Rees/Isabella Pierre (Broking)
SVS Securities Plc +44 (0) 203 700 0100
Tom Curran
Ben Tadd
Blytheweigh +44 (0) 207 138 3204
Tim Blythe +44 (0) 7816 924 626
Simon Woods +44 (0) 7466 439 633
Teneo PSG
Luke Hogg +353 (0) 1 661 4055
Alan Tyrrell +353 (0) 1 661 4055
www.botswanadiamonds.co.uk
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END
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