Brightstone Joint Venture Agreed on 13 Licences

RNS Number : 5236K

Botswana Diamonds PLC

31 July 2013

 



31 July 2013

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

Brightstone Joint Venture Agreed on 13 Licences in the Gope Region of Botswana

The directors of Botswana Diamonds (AIM: BOD),  announce an agreement between the Company and Siseko Minerals Pty Ltd over the 13 licence Brightstone block in the Gope area of Botswana, covering an area of 6,518 square kilometres ("Brightstone"). 

Under the terms of the agreement the Company becomes operator of the block and will earn into Brightstone by spending up to $940,000 over three years to earn 51 per cent.  The budget for the first year is $140,000.

The Gope region is highly prospective.  The Ghagoo mine owned by Gem Diamonds is being developed in the area while Petra Diamonds has made a discovery on block KX36.  Botswana Diamonds personnel have analysed all available geochemical, geophysical and drilling log data on the Brightstone licences and have identified a series of targets.  Detailed work on the targets willcommence within weeks.  This involves ground work to identify the best location to drill the target followed by drilling.

Thabang Mvambi, Executive Director of Siseko Minerals, stated "We are delighted to have reached an agreement with Botswana Diamonds, and we are confident that our exploration efforts will yield positive results."

John Teeling, chairman of Botswana Diamonds, commented, "It is a good time to be in diamonds.  In particular it is a very good time to be in the Botswana diamond industry.  The emerging success of the new Karowe Mine, first discovered by the Botswana Diamond founders, is increasing interest in the country.  Karowe is producing big, beautiful, valuable diamonds.  The KX36 discovery in the Gope area and the development of the Ghagoo mine is further focusing attention on the Gope region within Botswana.  We are farming into the Brightstone 13 licence block because we are confident that we will find previously unknown kimberlites.  Work will begin in the coming weeks."

Enquiries:

Botswana Diamonds PLC
John Teeling, Chairman	[phone]
Robert Bouquet, Director	+ 32 477 228851
Westhouse Securities Limited
Richard Baty	[phone]
Keith Bayley Rogers & Co. Limited
Niall Pearson	[phone]
Hugh Oram	[phone]
African Alliance Botswana Securities
Kabelo Mohohlo	[phone]
Oratile Leburu	[phone]
Blythe Weigh Communications	[phone]
Tim Blythe	[phone]
Halimah Hussain	[phone]
Eleanor Parry	[phone]
Pembroke Communications
David O'Siochain	[phone]

www.botswanadiamonds.co.uk

 

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