Sunday, March 3, 2024

Botswana Diamonds to start drilling in September

Junior miner Botswana Diamonds is preparing to start drilling in September, after discovering a strong geographical anomaly on PL210, which is considered prospective for the discovery of kimberlite. PL210 forms part of a five license block (PL206 to PL210) granted to Botswana diamonds, which covers 1,357 square kilometres of highly prospective ground in the Orapa region. The license block is Botswana Diamonds’ focus for the year 2015.

Botswana Diamonds is a diamond exploration and project development company that holds exploration licenses in Botswana, and is listed in the Botswana Stock Exchange (BSE). The company has an active 50/50 joint venture with Alrosa. Botswana Diamonds operates on the ground and provides its extensive database to Alrosa, who in turn use and apply their exclusive exploration technology.

“We have identified a very strong anomaly on PL210, which we will drill. The new ground that we have acquired in Gope also looks very promising. The on-going joint venture with Alrosa goes from strength to strength,” said Botswana Diamonds Executive Chairman John Teeling.

According to the Directors of Botswana Diamonds, the results come after a follow-up analysis that was conducted on both geophysics and geochemistry. The fieldwork was carried out by a combined team of geologists from Botswana Diamonds and Alrosa through their joint venture, Sunland Minerals. The results indicate that work on the ground comprised of heavy concentrate sampling of soil, hard rock sampling in-field mineralogical analysis, electromagnetic surveying and ground magnetic surveying. On both PL206 and PL207, further soil sampling and electromagnetic work was required to establish the source of the kimberlite indicator minerals.

Botswana Diamonds’ consolidated statement of comprehensive income for the year ended 30 June 2014 indicates that the company did not accrue any revenue and also did not record any gross profit. As a result, the company did not incur an income tax expense. Its income statement recorded a total comprehensive loss for the year of P1 025 403. The results statement reveals work that will also be done on PLs 135 and 136 where two magnetic anomalies have been identified.


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