REG - Botswana Diamonds - Four Prospecting Licenses granted in the Kalahari

Botswana DiamondsAnnouncement

23/05/2024 07:00

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RNS Number : 5428P  Botswana Diamonds PLC  23 May 2024

 

23 May 2024

 

Botswana Diamonds PLC

("Botswana Diamonds" or the "Company")

 

Four Prospecting Licenses granted in the Kalahari of Botswana

 

Botswana Diamonds plc, (AIM: BOD) is pleased to announce that it has been
granted four Prospecting Licenses in the Kalahari of Botswana.  These
Prospecting Licences cover a total area of 2,331.81 square kilometres and have
reference numbers PL0213, 0214, 0218 and 0219 of 2024 which adds to the
Company's existing acreage in the Kalahari.

 

These Prospecting Licenses are in the same general area as Gem Diamonds Ltd's
Ghaghoo diamond mine as well as the Company's KX36 advanced project in
addition to its recently announced drillable targets.

 

The KX36 project is a 3.5 hectares 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.

 

In the same general area is the Company's first drillable anomaly which is
c.12 hectares in size and the second contiguous anomaly is c.6 hectares in
size. The Company has started planning the drill phase of these two
significant anomalies and an Environmental Impact Assessment ("EIA") has
commenced, as a prelude to drilling. It is anticipated that five holes will be
drilled on the two anomalies.

 

John Teeling, Chairman, commented: "I am pleased that we have been awarded
these Prospecting Licenses in the Kalahari of Botswana, which we believe will
be the next major diamond producing area in the country. Exploration is a long
game, particularly diamond exploration, and we believe the industry is going
through a structural change which will see the natural product, particularly
from Botswana find its premium niche in world markets".

 

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 (http://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       +44 (0) 20 7409 3494

 Strand Hanson Limited

 Ritchie Balmer

 Rory Murphy

 David Asquith

 Broker                              +44 (0) 207 374 2212

 First Equity Limited

Jason Robertson

 Public Relations                    +44 (0) 207 138 3206

 BlytheRay                           +44 (0) 207 138 3553

Megan Ray

 Said Izagaren                       +44 (0) 207 138 3206

 Teneo

 Luke Hogg                           +353 (0) 1 661 4055

 Alan Tyrrell                        +353 (0) 1 661 4055

 Fia Long

 Alan Reynolds

 

 

www.botswanadiamonds.co.uk (http://www.botswanadiamonds.co.uk)

 

ENDS

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