BOTSWANA DIAMONDS PLC

Business and Financial Review • Sep 29, 2017

National Storage Mechanism | Additional information

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RNS Number : 1456S

Botswana Diamonds PLC

29 September 2017

29th September 2017

Botswana Diamonds PLC

("Botswana Diamonds" or the "Company")

Update on New Kimberlite Discovery

The board of Botswana Diamonds (AIM: BOD) are pleased to provide an update on Ontevreden, the new kimberlite discovery. The Ontevreden project is part of the Company's Vutomi Joint Venture in South Africa. 

Highlights:

·     Sampling at the newly discovered Ontevreden kimberlite finds abundant G10,  G9 and eclogitic garnets typically seen in high-grade kimberlite pipes; and

·     Drilling to follow later in the year.

Ontevreden

Having discovered a kimberlite pipe at Ontevreden, the next step was to ascertain if it was diamondiferous.  Samples from the pipe were analysed at the University of Johannesburg and produced abundant G10 and G9 garnets with a complimentary suite of eclogitic garnets.  This mix of garnets is typically seen in a high-grade kimberlite pipes.  This work follows detailed ground geophysics which identified a minimum size of 100mx70m and whole rock geochemistry which characterised Ontevreden as a Group 2 kimberlite.  The next step is to drill the kimberlite and this is planned for later in the year.

The Ontevreden kimberlite pipe is close to Petra Diamonds' Helam Mine, which has grades in excess of 500cpht and a diamond value of US$255/ct at a +1mm bottom cut off.

John Teeling, Chairman, commented, "The exciting new kimberlite discovery at Ontevreden continues to entice.  Samples from the surface contain significant quantities of G10 and G9 garnets - high quality diamond indicator minerals frequently found at high-grade kimberlite pipes."

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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. 

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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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