Access Awarded for Diamond Concession in Zimbabwe

RNS Number : 6792Y

Botswana Diamonds PLC

23 August 2018

 

23 August 2018

Botswana Diamonds PLC

("Botswana Diamonds" or the "Company")

Vast Resources plc awarded exclusive access for initial due diligence and Pre-Agreed Joint Venture Terms on a Community Trust Diamond Concession in the Marange Diamond Fields

Botswana Diamonds ('BOD') the AIM and BSE listed explorer is pleased to announce that Vast Resource plc ('Vast') who have signed a Memorandum of Understanding with BOD to develop diamond resources in Zimbabwe have been awarded exclusive access to a diamond concession area (the 'Heritage Concession') in what has become known as the Marange Diamond Fields in the Chiadzwa region of Zimbabwe.

The purpose of Vast's agreement with a community organisation is to carry out initial due diligence on the area with a view to concluding a joint venture agreement, the principal terms of which have been agreed, for exploration, mining and marketing. The 15km² Heritage Concession is close to an area of Vast's historic Marange Diamond Fields claim and is understood to be an extension of the same geological system.

John Teeling, Chairman, commented, "I am delighted that Vast has been awarded this exclusive access to part of the famous Marange diamond fields and we look forward working with them to realise the full potential of this area and others as they begin to emerge with Zimbabwe opening for business."

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. 

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

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]
Isabella Pierre (Broking)
SVS Securities Plc	[phone]
Tom Curran
Ben Tadd
Blytheweigh	[phone]
Simon Woods	[phone]
Julia Tilley	[phone]
Teneo PSG
Luke Hogg	[phone]
Alan Tyrrell	[phone]

www.botswanadiamonds.co.uk

 

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