Botswana Diamonds PLC Diamonds recovered from Thorny River Bulk Sampling (8140B)
June 11 2019 - 4:30AM
UK Regulatory
TIDMBOD
RNS Number : 8140B
Botswana Diamonds PLC
11 June 2019
11(th) June 2019
Botswana Diamonds PLC
("Botswana Diamonds" or the "Company")
Diamonds recovered from Thorny River Bulk Sampling
The Botswana Diamonds ("BOD"), associate Vutomi (BOD 40%),
received permission on 7(th) June 2019 to sell diamonds recovered
during bulk sampling at their Thorny River project. Up to Monday
10(th) June, 256 carats of rough diamonds had been recovered.
The sale of diamonds from bulk sampling will enable funding of
further development by Vutomi.
-- Bulk sampling site being worked.
-- Consent received for the sale of diamonds.
-- Sale of diamonds will fund further exploration activity.
-- Mining Permit application accepted for coveted portion of the contiguous Marsfontein farm.
Operations at Thorny River
Trenching by Botswana Diamonds has identified a 'hotspot' at
Thorny River with a thick kimberlite intersection of four metres
wide, suggesting a 'kimberlite blow'. 256 carats of rough diamonds
have already been recovered from re-commissioning the processing
plant. The bulk sampling programme will generate short-term cash
flow, whilst building the mineral resource. Our partner,
SouthernEra Diamonds, have included their coarse tailings dumps
generated from the mining of the Marsfontein and Klipspringer
diamond mines into the same revenue sharing agreement. The Thorny
River bulk sampling project is a joint venture between SouthernEra
providing the processing (40%), Palaeo (40%), the mining contractor
and Vutomi (20%) providing the ground.
Application for Marsfontein Mining Permit accepted
Vutomi's application for a Section 27 Mining Permit over a
portion of the Marsfontein farm has been accepted by the
authorities. Marsfontein is contiguous to, and an extension of, the
Thorny River project. This portion of the farm is host to the rich
M8 kimberlite dyke, bordering the great Marsfontein diamond mine,
in-situ gravels and dumps.
This release has been approved by James Campbell, Managing
Director of Botswana Diamonds plc, a qualified geologist
(Pr.Sci.Nat), 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 33-years' experience in the diamond
sector.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014. The person who arranged
for the release of this announcement on behalf of the Company was
James Campbell, Director
A copy of this announcement is available on the Company's
website, at www.botswanadiamonds.co.uk
ENDS
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
SVS Securities Plc - Broker
Tom Curran
Ben Tadd +44 (0) 20 3700 0100
Blytheweigh - PR +44 (0) 20 7138 3206
Julia Tilley +44 (0) 207 138 3553
Fergus Cowan +44 (0) 207 138 3208
Teneo
Luke Hogg +353 (0) 1 661 4055
Alan Tyrrell +353 (0) 1 661 4055
www.botswanadiamonds.co.uk
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END
UPDGMGMVLMRGLZG
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