Botswana Diamonds PLC Thorny River - Additional Holes to be Drilled (7277S)
05 October 2017 - 1:59AM
UK Regulatory
TIDMBOD
RNS Number : 7277S
Botswana Diamonds PLC
04 October 2017
4(th) October 2017
Botswana Diamonds PLC
("Botswana Diamonds" or the "Company")
Thorny River Project - 8 Additional Holes to be Drilled on New
Anomaly
The board of Botswana Diamonds (AIM: BOD) are pleased to provide
an update on the Thorny River Project ("Thorny River"), referred to
as the Zebediela Project in previous announcements.
Highlights:
-- Drilling extended at Thorny River to test a new anomaly on the Hartbeesfontein licence;
-- Bulk Sampling to commence shortly, with the aim of recovering
enough diamonds to take total diamond recovery on site up to 500
carats; and
-- Inferred Mineral Resource Estimate expected by year end.
John Teeling, Chairman, commented;
"We are making excellent progress in South Africa. The recently
completed geophysical survey identified an anomaly on the
Hartbeesfontein farm which may be a kimberlite pipe. We are now
drilling an additional 8 holes on this anomaly to test this.
"We are also commencing a bulk sample in order to obtain enough
data to produce a statistically valid estimate of grade and diamond
value. We expect to have an inferred resource by year end."
Further Detail:
At Thorny River, the detailed ground geophysics study has been
completed on the kimberlite dyke system. The planned delineation
drilling on the Frischgewaagt and Doornriver farms is also largely
completed. Geophysics discovered a significant anomaly on an
adjacent farm, Hartbeesfontein. This could be a kimberlite
blow/pipe. The Company is drilling eight holes on this new
anomaly.
The proposed Large Diameter Drilling (LDD) programme is being
replaced by a bulk sample with the aim of taking total diamond
recovery on site up to 500 carats. This will enable greater
accuracy in the grade and diamond value estimation. This work
programme is targeting a maiden Inferred Resource by the end of the
year.
The Thorny River project is located some 2 km east of the mined
out Marsfontein pipe which measured 0.4 hectares in size and which
produced 1.8 million carats of diamonds at an average grade of 172
carats per hundred tons (CPHT). Commissioned in 1998, the
operations at Marsfontein delivered a payback on investment in less
than 4 days.
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)
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
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