Botswana Diamonds PLC
("Botswana Diamonds" or the "Company")
Update on the Vutomi Joint Venture in South Africa
Highlights:
· Grade of 78 carats per hundred tonnes ("cpht") modelled on Frischgewaagt in a range 64 to 110 cpht
· Dyke length expands from 6km to 7.5km
· 3 anomalies identified which could be "blows" or small pipes. These will be drilled shortly.
The board of Botswana Diamonds (AIM:BOD), is pleased to provide an update on the Vutomi prospect at Frischgewaagt (FGT) following the inclusion of the results of the bulk sample and an update to the estimation analysis technique, a refined estimate for the grade at the FGT joint venture has been established.
Ongoing work by Dr. K Peterson has indicated a medium grade of 78 cpht in a range of 64 to 110 cpht at a bottom cut off of +1 mm. A geophysics programme has been completed and evaluation is ongoing. Further details will be announced in due course, but initial results indicated that the dyke system now covers 7.5km, up from 6km and that 3 anomalies have been defined, which could be "blows" on the dyke. A "blow" is where the dyke swells and may become a small pipe.
The drilling programme beginning in late July will focus on testing the anomalies with the intention of having an initial inferred resource by the end of the year.
Vutomi has a 28% BEE partner and has all necessary permits for ongoing work, so is well placed to comply with the new mining charter.
John Teeling, Chairman, commented, "An estimated midpoint grade of 78 cpht at Frischgewaagt is very good news. The former Marsfontein mine is close by on the same dyke system had better grades and this was a blow. Even better news is the identification of potential "blows" on the dyke. We will focus our upcoming drilling on these anomalies".
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.
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) |
|
Dowgate Capital Stockbrokers Limited |
|
Jason Robertson |
+44 (0) 203 903 7725 |
Blytheweigh |
+44 (0) 207 138 3204 |
Camilla Horsfall |
+44 (0) 781 784 1793 |
Nick Elwes |
+44 (0) 783 185 1855 |
Teneo PSG |
|
Ciaran Flynn |
+353 (0) 1 661 4055 |
Alan Tyrrell |
+353 (0) 1 661 4055 |
www.botswanadiamonds.co.uk
