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BOD Botswana Diamonds Plc

0.275
-0.05 (-15.38%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Botswana Diamonds Plc 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
  -0.05 -15.38% 0.275 0.25 0.30 0.325 0.275 0.325 1,641,432 16:07:18
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Misc Nonmtl Minrls, Ex Fuels 0 -3.68M -0.0038 -0.71 2.58M

Botswana Diamonds PLC Kimberlite Pipe Potential at Thorny River (7435K)

02/09/2019 7:00am

UK Regulatory


Botswana Diamonds (LSE:BOD)
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From Mar 2019 to Mar 2024

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TIDMBOD

RNS Number : 7435K

Botswana Diamonds PLC

02 September 2019

2(nd) September 2019

Botswana Diamonds PLC

("Botswana Diamonds" or the "Company")

Kimberlite Pipe Potential Identified at Thorny River

Botswana Diamonds ("BOD"), the AIM and BSE listed diamond explorer is pleased to announce that pioneering geophysical work has identified what is believed to be kimberlite pipes buried at shallow depth on the Company's Thorny River ground.

The targets identified are very similar to the pipe that constituted the high-grade and famous De Beers Marsfontein mine, in so much as the pipe had little surface indication due to dolerite rock cover but grew and swelled below the dolerite.

Much of the Thorny River area geology is comprised of a dolerite dyke swarm. Conventional geophysical techniques have been unable to detect kimberlites under the dolerite including those that are deeper seated. Subterrane, a partner using its proprietary technology, enables the company to explore geophysical anomalies beneath the dolerite and those that are buried. This could lead to the discovery of kimberlites similar to Marsfontein. Thus far Subterrane has identified five such target areas within the Thorny River project.

John Teeling, chairman, commented, "It has long been held that there should be high grade kimberlite pipes other than the Marsfontein mine in the Thorny River area. The geology made discovery difficult. New geophysical technology tries to see through the dense dolerite cover. The company pioneering the work, Subterrane, believe they have identified 5 targets likely to be kimberlites. We are working to better define where to drill. The targets are shallow so will not be expensive to drill".

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                           +353 1 833 2833 
 James Campbell, Managing Director                +27 83 457 3724 
 Jim Finn, Director                               +353 1 833 2833 
Beaumont Cornish - Nominated Adviser & Broker 
 Michael Cornish 
 Roland Cornish                                  +44 (0) 020 7628 3396 
 
Blytheweigh - PR                                +44 (0) 20 7138 3206 
 Julia Tilley                                    +44 (0) 207 138 3553 
 Fergus Cowan                                    +44 (0) 207 138 3208 
Teneo 
 Luke Hogg                                        +353 (0) 1 661 4055 
 Alan Tyrrell                                     +353 (0) 1 661 4055 
 

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 rns@lseg.com or visit www.rns.com.

END

MSCWGUBCRUPBGGU

(END) Dow Jones Newswires

September 02, 2019 02:00 ET (06:00 GMT)

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