TIDMBOD

RNS Number : 5117A

Botswana Diamonds PLC

23 January 2024

23(rd) January 2024

Botswana Diamonds PLC

("Botswana Diamonds" or the "Company")

High Grade Anomaly Discovered Close to KX36

Kimberlite Pipe in Botswana

Highlights

-- Gravity survey discovers high-grade anomaly similar in size to the KX36 diamond discovery in the Kalahari.

-- The anomaly has a strong gravity signature which gives us confidence that it will prove to be a kimberlite.

   --    Three other anomalies are being modelled with results expected in February. 
   --    The likelihood of a cluster of kimberlites is growing.

Chairman, John Teeling, commented: "This is the first strong indication of additional kimberlites around the KX36 discovery. Kimberlites come in clusters, but extensive exploration has to date not been successful. The anomaly has a strong gravity signature which gives us confidence that when drilled, it will prove to be a kimberlite. The anomaly sits on a structure like all the other kimberlites in the Kalahari, which further increases confidence. It is early days but very good news".

Botswana Diamonds plc ("BOD"), the London AIM and Botswana Stock Exchange listed diamond company, is very pleased to announce that a gravity survey has now been completed over four high-grade geophysical targets that had good magnetic response in a previous survey undertaken by the Company. Preliminary results from this gravity survey show that at least one of the four targets, which is located six kilometres ("km") south of the existing KX36 diamond discovery, has an excellent gravity response similar to that of known kimberlites and similar in size to KX36. The survey on the KX36 size anomaly is being repeated and correlated with previous results for confirmation. Next steps will be a drilling plan.

The new kimberlites targets have great potential to upgrade the existing resources in the area, including at the Ghaghoo Mine, which is currently under care and maintenance and only 60 km away from the KX36 project.

The KX36 project is a 3.5 hectares ("Ha") kimberlite pipe in the Kalahari. The pipe has resources of 17.9 million tonnes ("Mt") at 35 carats per hundred tonnes ("cpht") (indicated) and 6.7Mt at 36 cpht (inferred) at $65 per carat ("/ct"). The modelled grade range is 57-76 cpht at an estimated diamond value of up to $107/ct.

This release has been approved by James Campbell, Managing Director of Botswana Diamonds plc, a qualified geologist (Pr.Sci.Nat), a Fellow of the Geological Society of South Africa, a Fellow of the Southern African Institute of Mining and Metallurgy, a Fellow of the Institute of Materials, Metals and Mining (UK) and with over 38-years' experience in the diamond sector.

A copy of this announcement is available on the Company's website, at www.botswanadiamonds.co.uk

Enquiries:

 
Botswana Diamonds PLC 
 John Teeling, Chairman                +353 1 833 2833 
 James Campbell, Managing Director     +27 83 457 3724 
 Jim Finn, Director                    +353 1 833 2833 
Nominated & Financial Adviser 
 Strand Hanson Limited 
 Ritchie Balmer 
 Rory Murphy 
 David Asquith                       +44 (0) 20 7409 3494 
Broker 
 First Equity Limited 
 Jason Robertson                     +44 (0) 207 374 2212 
Public Relations 
 BlytheRay                           +44 (0) 207 138 3206 
 Megan Ray                            +44 (0) 207 138 3553 
 Said Izagaren                        +44 (0) 207 138 3206 
Teneo 
 Luke Hogg 
 Alan Tyrrell 
 Fia Long                              +353 (0) 1 661 4055 
 Alan Reynolds                         +353 (0) 1 661 4055

www.botswanadiamonds.co.uk

ENDS

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DRLQLLFLZFLZBBD

(END) Dow Jones Newswires

January 23, 2024 02:00 ET (07:00 GMT)

Grafico Azioni Botswana Diamond (AQSE:BOD.GB)
Storico
Da Ott 2024 a Nov 2024 Clicca qui per i Grafici di Botswana Diamond
Grafico Azioni Botswana Diamond (AQSE:BOD.GB)
Storico
Da Nov 2023 a Nov 2024 Clicca qui per i Grafici di Botswana Diamond