Diamond grade estimated to be between 20-270 cpht

RNS Number : 9529H

Botswana Diamonds PLC

13 June 2017

 

13^th June 2017

Botswana Diamonds PLC

("Botswana Diamonds" or the "Company")

Diamond grade estimated to be between 20-270 cpht at Frischgewaagt, South Africa

Botswana Diamonds, the AIM and BSE listed explorer (AIM:BOD), is pleased to announce that 223 microdiamonds have been recovered from 160kg of kimberlite drill core from the Frischgewaagt Project, located in South Africa.

These results, which are presented in full below, were modelled to an estimated grade range of 20 to 270 carats per hundred tons ("cpht") at a bottom cut off of 0.6 mm, with the largest stone being a white transparent crystal diamond falling in the -1.18+0.85 mm sieve. The modelling took cognisance of the results from the earlier bulk processing of surface and near surface material. The wide range in the estimated grade reflects the small sample size.

The kimberlite concentrate was recovered from the nine core holes drilled on Frischgewaagt where both magmatic kimberlite (associated with dykes) and volcanoclastic (associated with pipes) were recently discovered. 

The MSA Group in Johannesburg undertook the microdiamonds analyses and the modelling was undertaken by Dr JJ Ferreira, a world renowned expert in micro diamond assessment.

40 km of detailed ground based geophysics is nearing completion on both Frischgewaagt and the adjoining properties with a second drill programme planned to commence next month.

Frischgewaagt is on a 6km kimberlite dyke/pipe complex averaging 1.34 m in width.  The project is also 2km along strike from the nearby Marsfontein Mine which was 0.4 hectares in size producing at an average grade of 172 cpht at a bottom cut off of 1.2 mm.  Marsfontein achieved a payback of capital in under 4 days.

John Teeling, Chairman commented, "This is an excellent result and shows the potential of Frischgewaagt. We need more drill samples to refine the grade estimate. This will be done in the coming months. Earlier work indicated diamond values of over US$200/ct. The geophysics work which is almost complete and the drilling to follow is targeted to produce an Inferred Resource by the end of the year."

Link to Figure 1: Microdiamond Results 
http://www.rns-pdf.londonstockexchange.com/rns/9529H_-2017-6-13.pdf

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

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. 

ENDS

 

Enquiries:

Botswana Diamonds PLC
John Teeling, Chairman	[phone]
James Campbell, Managing Director	[phone]
Jim Finn, Director
Northland Capital Partners Limited
David Hignell/Gerry Beaney (Corporate Finance)	[phone]
John Howes (Broking)
Dowgate Capital Stockbrokers Limited
Jason Robertson	[phone]
Blytheweigh	[phone]
Camilla Horsfall	[phone]
Nick Elwes	[phone]
Teneo PSG
Ciaran Flynn	[phone]
Alan Tyrrell	[phone]

www.botswanadiamonds.co.uk

 

END

 

 

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