BOTSWANA DIAMONDS PLC

Earnings Release • Apr 30, 2014

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 8325F

Botswana Diamonds PLC

30 April 2014

30 April 2014

Botswana Diamonds plc ("Botswana Diamonds" or the "Company")

Positive Results from Initial Analysis of Exploration on PL117 in Orapa

Two Drill Targets identified

Potential for new kimberlites

Botswana Diamonds (AIM:BOD), announces today that initial fieldwork has successfully been completed on schedule and on budget on PL 117.  This is a 2.9 square km area in Orapa identified as the highest level priority target by the Company's partner, Russian diamond major, Alrosa.

The results show scope for discovery of new kimberlite pipes, particularly in the north of the block.  Two drill targets have already been identified and we anticipate that further drill targets will be identified as the second batch of mineralogical samples is fully analysed over the coming months.  A specific drilling programme will then target areas of highest potential.

A combined team of senior geologists and geophysicists from both companies undertook an intensive work programme to identify drill targets on the licence.  Innovative magnetic and electromagnetic geophysical surveys were conducted, and a new map of the magnetic field revealed.  In addition, heavy mineral sampling was carried out.  Some of these samples have already been analysed and interpreted at Alrosa's world-class proprietary laboratory in St Petersburg, Russia.  A second, larger batch of samples is currently on its way to Russia for priority mineralogical analysis.

In addition Alrosa believes that its analysis of geophysical data and the diamond indicator minerals has highlighted potential on ground in the region of PL117; ground which Botswana Diamonds has applied for and expects to be awarded.

A work programme is now being prepared for the new ground.

John Teeling, Chairman of Botswana Diamonds, said;

"This is great news. As we hoped, we have now got drill targets identified on PL117. There may well be more to come. We shall await the conclusion of the Alrosa analysis on the second batch of samples, and then we will launch our drill programme.

"We are also becoming increasingly bullish on some areas apart from PL117.

"We were confident that bringing Alrosa to Botswana would be a positive move, and I am delighted that this view is already being vindicated. Combining our knowledge on the ground and their world-class exploration skills is a major plus. Alrosa is bringing something new to the table, and that is exactly what we hoped for. New thinking and new techniques suggest that there are undiscovered diamond-bearing kimberlites on or near our acreage.

"I look forward to announcing further developments in due course. "

Enquiries:

Botswana Diamonds PLC
John Teeling, Chairman	+353 1 833 2833
Jim Finn, Director
Westhouse Securities Limited
Richard Baty	+44 (0) 20 7601 6100
Hugo Rubinstein
Dowgate Captial Stockbrokers Limited
Jason Robertson	+44 (0) 129 351 7744
African Alliance Botswana Securities
Kabelo Mohohlo	+267 364 3954
Oratile Leburu	+267 364 3977
Blytheweigh	+44 (0) 20 7138 3204
Tim Blythe	+44 (0) 7816 924 626
Halimah Hussain	+44 (0) 7725 978 141
Camilla Horsfall	+44 (0) 7817 841 793
Pembroke Communications
Natalie Tennyson	+353 1 649 6486
Alan Tyrrell	+353 1 649 6486

www.botswanadiamonds.co.uk

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCQKCDNABKDBQB