Share Name Share Symbol Market Type Share ISIN Share Description
Botswana Diamond LSE:BOD London Ordinary Share GB00B5TFC825 ORD 0.25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.025p +1.52% 1.675p 1.55p 1.80p 1.675p 1.65p 1.65p 1,100,000 16:12:56
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -0.3 -0.1 - 7.69

Botswana Diamonds PLC Update on the Vutomi Joint Venture in South Africa

11/07/2017 7:00am

UK Regulatory (RNS & others)


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RNS Number : 6413K

Botswana Diamonds PLC

11 July 2017

11(th) July 2017

Botswana Diamonds PLC

("Botswana Diamonds" or the "Company")

Update on the Vutomi Joint Venture in South Africa

Highlights:

-- Grade of 78 carats per hundred tonnes ("cpht") modelled on Frischgewaagt in a range 64 to 110 cpht

   --      Dyke length expands from 6km to 7.5km 

-- 3 anomalies identified which could be "blows" or small pipes. These will be drilled shortly.

The board of Botswana Diamonds (AIM:BOD), is pleased to provide an update on the Vutomi prospect at Frischgewaagt (FGT) following the inclusion of the results of the bulk sample and an update to the estimation analysis technique, a refined estimate for the grade at the FGT joint venture has been established.

Ongoing work by Dr. K Peterson has indicated a medium grade of 78 cpht in a range of 64 to 110 cpht at a bottom cut off of +1 mm. A geophysics programme has been completed and evaluation is ongoing. Further details will be announced in due course, but initial results indicated that the dyke system now covers 7.5km, up from 6km and that 3 anomalies have been defined, which could be "blows" on the dyke. A "blow" is where the dyke swells and may become a small pipe.

The drilling programme beginning in late July will focus on testing the anomalies with the intention of having an initial inferred resource by the end of the year.

Vutomi has a 28% BEE partner and has all necessary permits for ongoing work, so is well placed to comply with the new mining charter.

John Teeling, Chairman, commented, "An estimated midpoint grade of 78 cpht at Frischgewaagt is very good news. The former Marsfontein mine is close by on the same dyke system had better grades and this was a blow. Even better news is the identification of potential "blows" on the dyke. We will focus our upcoming drilling on these anomalies".

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, Metals and Mining with over 31-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          +353 1 833 2833 
 James Campbell, Managing 
  Director                       +27 83 457 3724 
 Jim Finn, Director 
 Northland Capital Partners 
  Limited 
 David Hignell/Gerry Beaney 
  (Corporate Finance)            +44 (0) 203 861 6625 
 John Howes (Broking) 
 Dowgate Capital Stockbrokers 
  Limited 
 Jason Robertson                 +44 (0) 203 903 7725 
 Blytheweigh                     +44 (0) 207 138 3204 
 Camilla Horsfall                +44 (0) 781 784 1793 
 Nick Elwes                      +44 (0) 783 185 1855 
 Teneo PSG 
 Ciaran Flynn                    +353 (0) 1 661 4055 
 Alan Tyrrell                    +353 (0) 1 661 4055 
 

www.botswanadiamonds.co.uk

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

July 11, 2017 02:00 ET (06:00 GMT)

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