Botswana Diamonds PLC Sunland Minerals' Prospecting Licences renewed (8073N)

TIDMBOD

RNS Number : 8073N

Botswana Diamonds PLC

04 October 2021

4(th) October 2021

Botswana Diamonds PLC

("Botswana Diamonds" or the "Company")

Sunland Minerals' Prospecting Licences renewed close to the Ghaghoo diamond mine in the Kalahari of Botswana

Prospecting Licences ("PL's") PL232 and 235 of 2015 of Sunland Minerals Pty Ltd, a wholly owned subsidiary of Botswana have been renewed. The renewals are for a two-year period commencing 1(st) October 2021. Recent aeromagnetic and surveys followed by targeted ground magnetic surveys and soil sampling have identified drill targets on the PLs.

PL232 and 235 are 60 and 164 square kilometres respectively. They are situated to the west of the Ghaghoo diamond mine in the central Kalahari and are considered highly prospective. The nearest kimberlite to these licences is Go194 (part of the Gope or Ghaghoo kimberlite pipe cluster) close to the south-eastern point of PL235 which is 20-km from the Ghaghoo diamond mine where Botswana Diamonds holds an interest and is the operator. There is considerable infrastructure at Ghaghoo which will facilitate servicing a drilling campaign. The economics of any discovery on the ground will be improved by the closeness of an existing mine.

The Environmental Management Plan for future drilling has been completed and approved.

These licenses form part of BOD's joint venture with Diamexstrat and Burgundy Diamond Mining (as previously announced on 16 February 2021). Any work programme will be funded as part of the earn-in arrangement by our joint venture partners.

This renewal is a key development in the company's primary focus on the Kalahari of Botswana.

James Campbell, Managing Director commented: "Botswana Diamonds believes that there is the potential for significant new diamond discoveries in the Kalahari. We have quietly built exploration acreage, while partnering with Diamexstrat and Burgundy Diamond Mining to finance exploration. Until recently, many thought that logistics and water challenges on this acreage could not be overcome. However, operational progress at nearby Ghaghoo and KX36 has transformed the situation: much of the set-up costs have already been incurred and incremental discoveries may therefore be potentially developed at lower cost and risk".

This release has been approved by James Campbell, Managing Director of Botswana Diamonds plc, a qualified geologist (Pr.Sci.Nat), a Member 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 35-years' experience in the diamond sector.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018.

The pers on who arranged the release of this announcement on behalf of the Company was James Campbell.

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

Enquiries:

 
Botswana Diamonds PLC 
 John Teeling, Chairman                  [phone] 
 James Campbell, Managing Director       [phone] 
 Jim Finn, Director                      [phone] 
Beaumont Cornish - Nominated Adviser 
 Michael Cornish 
 Roland Cornish                         [phone] 
Beaumont Cornish Limited - Broker 
 Roland Cornish 
 Felicity Geidt                        [phone] 
First Equity Limited - Joint Broker 
 Jason Robertson                       [phone] 
Blytheweigh - PR                       [phone] 
 Megan Ray                              [phone] 
 Rachael Brooks                         [phone] 
 Said Izagaren                          [phone] 
 Naomi Holmes                           [phone] 
Teneo 
 Luke Hogg                               [phone] 
 Alan Tyrrell                            [phone] 
 Ciara Wylie                             [phone] 
 

www.botswanadiamonds.co.uk

ENDS

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October 04, 2021 02:00 ET (06:00 GMT)