Botswana Diamonds PLC Free State Project - Update (7609W)

TIDMBOD

RNS Number : 7609W

Botswana Diamonds PLC

17 November 2017

17(th) November 2017

Botswana Diamonds PLC

("Botswana Diamonds" or the "Company")

Free State Project - Update

Highlights:

   --        Update on Free State kimberlites 
   --        Eight kimberlites have sizes between 0.3 and 1.15 hectares 
   --        Field observations of historic workings suggests that the kimberlites contain diamonds 

The Board of Botswana Diamonds (AIM: BOD) is pleased to announce results from our third ongoing exploration project in South Africa. The Free State project is situated between Bloemfontein and Kimberley, the historic centre of the diamond industry, where kimberlite was first identified.

Following the Company's announcement of 24 October 2017 regarding the re-discovery of eight Group 1 kimberlites, detailed ground geophysical survey work was undertaken by Geofocus. The survey work was aimed at determining the surface area of these kimberlites. Results indicate the sizes of these kimberlites to range from 0.3 hectares to 1.15 hectares:

   --    Tafelsbergdam (1 and 2 combined): 0.3 ha 
   --    Poortjie: 0.5 ha 
   --    Koppiesfontein and Buffelsboutfontein: 0.53 ha 
   --    Warratah (1 and 2 combined): 0.53 ha 
   --    Zwartrandsdam: 0.75 ha 
   --    Vlakfontein: 1.15 ha 

The above sizes were determined using a combination of magnetic, electromagnetic and gravity geophysical techniques, which has resulted in very strong images of the footprints of these kimberlites.

The kimberlites occur along a northwest to southeast trending kimberlite feeder system along which the diamond mines of Jagersfontein, Koffiefontein and Kimberley are located. It is therefore inferred that the eight kimberlites were formed at the same time as these mines. Recent whole rock geochemistry shows similar compositions in the kimberlites to the surrounding mines. Jagersfontein is renowned for the blue gems it produced, and the Excelsior (972 carat) and Reitz/Jubilee (651 carat) diamonds recovered from it are amongst the 10 largest diamonds ever discovered, while Koffiefontein is renowned for the high-quality gems it produces.

The next phase of work at the Free State project will consist of an analysis of the indicator mineral chemistry for each of the pipes to determine an economic interest rating which will prioritize further work. This follows field observations of extensive historical workings which suggest that these kimberlites are diamondiferous. This is planned for early in 2018.

John Teeling, Chairman, commented, "The re-discovery of 8 kimberlites in a highly prospective diamond area was very positive. We now know the sizes of each pipe/dyke and we believe that each could contain diamonds. The next step is to evaluate the diamond indicator minerals in each pipe to decide priorities for drilling."

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, Minerals and Mining with over 32-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] 
 John Howes (Broking) 
 Blytheweigh                   [phone] 
 Camilla Horsfall              [phone] 
 Nick Elwes                    [phone] 
 Teneo PSG 
 Luke Hogg                     [phone] 
 Alan Tyrrell                  [phone] 
 

www.botswanadiamonds.co.uk

This information is provided by RNS

The company news service from the London Stock Exchange

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November 17, 2017 02:00 ET (07:00 GMT)