Monday, May 16, 2022

Botswana Diamonds gives investors update on PL170/2012 licence

The directors of Botswana Diamonds plc on Monday provided an update on licence PL170/2012 in the Orapa area of Botswana, lying 30kms to the east of the Letlhakane diamond mine. 

The licence, issued in May 2012, covers 249 sq kms and is 100 per cent owned by the company.

In a market update, Botswana Diamonds said the mineral chemistry data from soil samples collected on the licence has been compiled together with an earlier review of aeromagnetic data. 

The data shows areas with concentrations of diamond indicator minerals, namely garnets, ilmenites with a few spinels and chromites. The garnets fall mainly within the G9 group with minor G10 garnets.  These results are very encouraging and helped in the identification of five areas for follow-up ground geophysics.

 A geophysics team is currently conducting detailed ground magnetic and gravity surveys on four areas in the west of the licence and one area in the east for the purposes of identifying drilling targets.  Results from this work are expected within six weeks, after which a percussion drilling programme will commence.

“These are very encouraging results which enable us to move forward to the next stage of exploration activity with confidence,” ┬áJohn Teeling, Chairman of Botswana Diamonds, said.

┬á”We believe the five target areas we are now focussing on offer very high potential, and look forward to providing a further update on the findings of the ground magnetic and gravity surveys before the end of the year,” he said.

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