The Government of Botswana awarded new prospecting license to Sunland Minerals, a joint venture between Aim-listed Botswana Diamonds and Russian diamond producer Alrosa. The license which is valid for three years until September 30, 2018, covers a 25 sq. km area in the Orapa region of Botswana, which contains three previously-discovered kimberlite bodies.
The Directors also said the Government of Botswana have awarded the Prospecting Licence PL260/2015, to Sunland Minerals. Sunland Minerals is the 50/50 joint venture exploration company owned by BOD and Alrosa. The Directors of Botswana Diamonds announced on Wednesday that Botswana Diamonds centrally located licence areas, which cover 46 km2, 48 km2 and 3.3 km2 respectively, were selected in order to verify and follow up previously identified geophysical anomalies.
The licence, PL260/2015, covers ground which is the highest priority for the BOD/Alrosa joint venture. It contains three previously-discovered kimberlite bodies, AK21, AK22 and AK23.
The joint venture exploration team is reportedly active in the area and work has resumed on reviewing the block with a view to defining new anomalies and drill targets. It is reported that geoscientists would immediately focus on the target areas using small grids to carry out detailed geophysics and to acquire mineral chemistry data with the aim of making rapid decisions regarding potential drilling.
On Wednesday, Botswana saw its shares plummet after it said it had intersected an older type of rock that was not consistent with other kimberlite intersected in the Orapa region. Botswana Diamond shares were up 19% on Friday morning.