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AFD Ansar Financial and Development Corporation

0.41
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type
Ansar Financial and Development Corporation CSE:AFD CSE Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.41 0.03 1.00 0 00:00:00

Drilling Report

23/10/2003 1:13pm

UK Regulatory


RNS Number:2339R
African Diamonds PLC
23 October 2003

                                                               23rd October 2003

                            Update on Botswana Drilling


Kimberlite Drilling on Orapa Licence

A processing plant has been constructed to analyse the 170 tons of samples
obtained from drilling 4 kimberlite pipes, BK10, AK8, AK9, AK12. The African
Diamonds Orapa licence contains 21 known kimberlite pipes. There is a particular
focus on BK10 following a mapping survey, which increased the size of the pipe
from half of a hectare to 3.5 hectares. Drilling on BK10 discovered fresh
kimberlite 6 metres below surface. A total of 7 holes were drilled on BK10
providing 70 tons of samples. Thirteen holes were completed on the other three
pipes.  Results will be available by end November.

Orapa Alluvial Diamonds

The drilling programme searching for the Orapa alluvial diamonds has started.
The 42-hole programme is designed to prove that the channels already identified
under the Kalahari sands on our Serowe licence are old river channels.  Seven
holes will be drilled across each of six lines to test geophysical anomalies.
This exploration, which is at an early stage, has interesting possibilities.

Ninety million years ago the Orapa kimberlites were formed. The Kalahari sands,
which now cover the region, were laid down 2 million years ago. During the ages,
great rivers flowed across Orapa. Over time, up to 100 metres of the kimberlites
were eroded. To date, no one has found the alluvial diamonds associated with the
erosion.

From landsat imagery and earlier work on the ground, African Diamonds has
identified what we believe to be former river channels draining Orapa to the
South East. We may be lucky, at this early stage, and find gravels or diamond
indicators or even diamonds. But the target is to confirm that we have former
river channels on our licence. This initial stage of prospecting will be
completed within weeks and results available by end November.

John Teeling, chairman, in commenting said "Having just returned from Botswana,
I am delighted to report extensive progress on all fronts.  Our drilling on the
kimberlite pipes on our Orapa licence went very well. We are analysing the drill
samples and have high hopes in particular from BK10, which is far larger than
originally estimated. We also found kimberlite close to the surface. We will
have results within a month.

The alluvial drilling is highly exciting. We are looking for plunge pools or
sumps in the old river channels. If there are diamonds in the channels, they may
concentrate in the sumps. The bigger diamonds travel the best. We have
identified dolerite dykes which cross the channels 100 kms from Orapa on our
Serowe licence. Given the quality and value of diamonds in the Orapa kimberlite
field we have the possibility of finding large, high value, gemstone quality
diamonds. But let me raise a note of caution. The current drilling is the first
of a number of steps. We can fail at any stage. However the board is encouraged
by results".


CONTACTS:

John Teeling:                       + 353 1 8332833
Mark Scowcroft:                     + 267 713 02471
Leon Daniels:                       + 27 823396611


   African Diamonds is an AIM listed Diamond Exploration Company operating in
                       Botswana, Sierra Leone and Guinea.
                                     (AFD)

                               www.afdiamonds.com


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END
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