Botswana Diamonds plc, the AIM listed diamond explorer (AIM: BOD) has completed the first phase of drilling at the flagship Vutomi project in Frischgewaagt, 280km north of Johannesburg.
Highlights:
v 34 percussion and 9 diamond drill holes drilled completed on the kimberlite dyke
v Two "blows" discovered on the kimberlite dyke system from this drill programme
v High interest olivines, G10 and G9 garnets recovered
v Samples submitted for microdiamond analysis, results are expected within two months
v The geology is very similar to the high value Marsfontein mine, located 20km away
v Another round of drilling to be completed in April/May will identify the area for bulk sampling
v Modelled per carat value of US$259/ct on diamonds recovered from earlier drilling
John Teeling, Chairman, commented "Frischgewaagt is turning into a very exciting project. What we see in the drilling we like. To date we have discovered two "blows" on the kimberlite dyke system. We are moving to delineate the size of each one. The drilling samples contain high quantities of diamond indicator minerals of similar profile to the highly profitable Marsfontein mine some 20km away.
In the next two months we should have results from the microdiamond analyses and further information on the size and composition of the kimberlite dykes."
Further information:
The purpose of this first phase of drilling was to increase the geological confidence in the c. 6km long kimberlite dyke/blow system, which is east of, and on strike with, the former De Beers / Southern Era operated Marsfontein Mine. Marsfontein was operated for two years in the late 1990's with economics which allowed the entire capital cost to be recouped in under four days. Marsfontein's run of mine grade was 172cpht at a bottom cut off of +1.2mm.
34 percussion holes (totalling 1,459m) and 9 diamond drill holes (totalling 432m) have been drilled along a 1,580m strike length of the c. 6km dyke/blow complex. The width of the kimberlite dyke/blow system is between 1.0 and 2.7m with two wider areas or "blows" identified. To test the vertical continuity of the system, a single 104m hole was drilled chiefly in kimberlite. Petrographic analysis of the samples has resulted in classification of the dyke as a Group 2 Olivine Phlogopite rich magmatic kimberlite with the blows being volcanoclastic kimberlite. The size and abundance of olivines which are diamond indicator minerals is very positive.
A population of over 200 garnets have been microprobed with 38 probed as G10 (Harzburgitic paragenesis) and 17 as G10D (diamond inclusion garnets). A total of 18 garnets have been probed as Group 1 Eclogitic type which suggests a strong Eclogitic diamond paragenesis. The remaining garnets are high interest G9 along with some megacrysts. These G10 and G9 garnets are important diamond indicators and have similar mineral chemistry to the nearby Marsfontein Mine. A 200-kg core sample has been consigned for microdiamond analyses with results available within two months.
In previous work, 467 diamonds yielding 247 carats were recovered from the processing of surface material. The largest diamond was 3.66 carats and the parcel had an average size of 0.53cts/stone. The sale of these diamonds achieved a rough diamond value of US$180/ct and a modelled value of US$259/ct at a bottom cut off of +2mm.
Detailed ground geophysical test work has also been undertaken by Geofocus to determine the most effective technique to delineate the further lateral extension of the system. This work will select targets to be drilled during April and May. The results of the next drilling phase will determine the areas of Frischgewaagt, which will be subject to bulk sampling.
This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
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 Materials, Metals and Mining with over 31-years' experience in the diamond sector.
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) |
|
Dowgate Capital Stockbrokers Limited |
|
Jason Robertson |
+44 (0) 129 351 7744 |
Blytheweigh |
+44 (0) 207 138 3204 |
Camilla Horsfall |
+44 (0) 781 784 1793 |
Nick Elwes |
+44 (0) 783 185 1855 |
Kristina Kazerani |
+44 (0) 207 138 3206 |
Rachael Brooks |
|
PSG Plus |
|
Ciaran Flynn |
+353 (0) 1 661 4055 |
Alan Tyrrell |
+353 (0) 1 661 4055 |
www.botswanadiamonds.co.uk
