Botswana Diamonds PLC Diamonds recovered from Thorny River Bulk Sampling (8140B)

TIDMBOD

RNS Number : 8140B

Botswana Diamonds PLC

11 June 2019

11(th) June 2019

Botswana Diamonds PLC

("Botswana Diamonds" or the "Company")

Diamonds recovered from Thorny River Bulk Sampling

The Botswana Diamonds ("BOD"), associate Vutomi (BOD 40%), received permission on 7(th) June 2019 to sell diamonds recovered during bulk sampling at their Thorny River project. Up to Monday 10(th) June, 256 carats of rough diamonds had been recovered.

The sale of diamonds from bulk sampling will enable funding of further development by Vutomi.

   --    Bulk sampling site being worked. 
   --    Consent received for the sale of diamonds. 
   --    Sale of diamonds will fund further exploration activity. 
   --    Mining Permit application accepted for coveted portion of the contiguous Marsfontein farm. 

Operations at Thorny River

Trenching by Botswana Diamonds has identified a 'hotspot' at Thorny River with a thick kimberlite intersection of four metres wide, suggesting a 'kimberlite blow'. 256 carats of rough diamonds have already been recovered from re-commissioning the processing plant. The bulk sampling programme will generate short-term cash flow, whilst building the mineral resource. Our partner, SouthernEra Diamonds, have included their coarse tailings dumps generated from the mining of the Marsfontein and Klipspringer diamond mines into the same revenue sharing agreement. The Thorny River bulk sampling project is a joint venture between SouthernEra providing the processing (40%), Palaeo (40%), the mining contractor and Vutomi (20%) providing the ground.

Application for Marsfontein Mining Permit accepted

Vutomi's application for a Section 27 Mining Permit over a portion of the Marsfontein farm has been accepted by the authorities. Marsfontein is contiguous to, and an extension of, the Thorny River project. This portion of the farm is host to the rich M8 kimberlite dyke, bordering the great Marsfontein diamond mine, in-situ gravels and dumps.

This release has been approved by James Campbell, Managing Director of Botswana Diamonds plc, a qualified geologist (Pr.Sci.Nat), 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 33-years' experience in the diamond sector.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014. The person who arranged for the release of this announcement on behalf of the Company was James Campbell, Director

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

ENDS

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] 
SVS Securities Plc - Broker 
 Tom Curran 
 Ben Tadd                              [phone] 
Blytheweigh - PR                       [phone] 
 Julia Tilley                           [phone] 
 Fergus Cowan                           [phone] 
Teneo 
 Luke Hogg                               [phone] 
 Alan Tyrrell                            [phone] 
 

www.botswanadiamonds.co.uk

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

UPDGMGMVLMRGLZG

(END) Dow Jones Newswires

June 11, 2019 05:30 ET (09:30 GMT)