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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 |
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 DRLLXLFLXBBBFBV
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