Exploration update

 

TIDMAFD 
 
RNS Number : 3479N 
African Diamonds PLC 
10 June 2010 
 
 
 
 
 
10 June 2010 
                              African Diamonds plc 
        Drilling to start on 3 Botswana kimberlites - AK8, AK9 and BK5. 
 
·     The AK6 mine is scheduled to start in Q3 2011 
·     An 800 hole reverse circulation drilling programme will begin shortly on 
the AK8, AK9, BK5 kimberlites in Orapa, Botswana 
·     A thorough review of six years of drilling and prospecting data suggests 
that grades could be higher in AK8 and AK9 and that the size of BK5 may triple 
·     The  three kimberlites are 100% owned by African Diamonds 
 
Board approval is expected at the end of June for the final AK6 feasibility 
studies (African Diamonds 40% and Lucara 60%). The mine remains scheduled to 
come on stream in Q3 2011. African Diamonds is ramping up exploration on its 
100% owned Botswana exploration licences. The focus will be on three Orapa 
kimberlites each with the potential to be stand alone or feeder mines to the AK6 
mine. 
 
Following a detailed review of earlier work done on kimberlites AK8, AK9 and 
BK5, an 800 reverse circulation drill hole programme will commence in the coming 
weeks at a cost of approximately $1m.  The purpose of the drilling is to 
accurately delineate the size of each kimberlite and to estimate microdiamond 
and heavy mineral grades. 
 
The results should enable African Diamonds to move to engineering and financial 
studies on whether or not the kimberlites can be developed as open pit mines on 
a stand alone basis or as feeder mines to the AK6 mine. 
 
The close to surface/outcropping areas of the AK8 and AK9 kimberlites, where 
extensive data already exists, will be the principal targets. BK5 is at an 
earlier stage of exploration but has significant potential. 
 
The AK8, AK9 & BK5 kimberlites 
 
All three contain diamonds. 
 
AK8 is situated approximately 10km from AK6 and 10km away from Debswana's Orapa 
Mine. It is a two lobe, 5 hectare kimberlite. The pipe is estimated to contain 
20M tonnes of kimberlite to a depth of 300m. The diamond grade is estimated to 
be between 5-10 carats per hundred tonnes (cpht). There is insufficient data to 
make an estimate of the diamond value. The latest assessment of AK8 suggests 
that there could be filtering of the 
earlier drill grades. There may be an economic opportunity on the kimberlite 
lobe outcropping on the surface. 
 
AK9 is a 3 hectare kimberlite pipe, also situated 10km away from AK6. The pipe 
is estimated to contain 11M tonnes to a depth of 250m. The diamond grade is 
estimated to be between 5-10cpht with upside potential. There is insufficient 
data to make an estimate of the diamond value. As with AK8, a re-assessment of 
the kimberlite suggests that there could be filtering of the drill grades and so 
higher grades are possible. There is a potential economic opportunity with the 
portion of the kimberlite outcropping on the surface. 
 
BK5 is recorded as having a surface extent of 2.7 hectares but recent work by 
African Diamonds suggests the anomaly is at least seven hectares in size. Much 
of the kimberlite is at surface and historical records suggest a grade of around 
seven cpht. 
 
John Teeling, chairman, commented "The focus of the past two years has been on 
AK6.  It is now time to evaluate our other assets in the Orapa region.  African 
Diamonds holds 100% of some of the very best diamond ground in Botswana, 
containing over 20 known kimberlites.  During the past six years extensive 
exploration has been undertaken on this ground at a cost of millions of dollars. 
 Three discoveries in Orapa, the AK8, AK9 and BK5 kimberlites, contain diamonds 
and may, in part or as a whole, become commercial mines. 
 
"We have spent the past three months re-assessing the prospecting and drilling 
data on AK8, AK9 and BK5.  We will shortly begin a drilling programme of up to 
800 reverse circulation drill holes to clarify the size, grade and value per 
carat of each of the three pipes." 
 
This release has been approved by Alex van Zyl, Technical Director African 
Diamonds.   Alex van Zyl (B.Sc. Stellenbosch, B.Sc. Hons. Pretoria) spent a long 
career in Anglo American in the diamond division, ending up 1990 to 1997 with 
worldwide responsibility for diamond exploration and evaluation.  He was a 
consultant to De Beers from 1997 to 2002. 
 
Further information: 
African Diamonds Plc 
John Teeling                                                             Tel: 
[phone] 
James AH Campbell                                               Tel: [phone] 
3724 
Finn Cap 
Matthew Robinson, Corporate Finance        Tel: [phone] 
Henrik Persson, Corporate Finance 
Joanna Weaving, Corporate Broking 
College Hill 
Nick Elwes                                                                Tel: 
[phone] 
 
                               www.afdiamonds.com 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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