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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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.025 | 7.69% | 0.35 | 0.30 | 0.40 | 0.35 | 0.325 | 0.325 | 9,235,923 | 14:52:19 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Misc Nonmtl Minrls, Ex Fuels | 0 | -3.68M | -0.0038 | -0.92 | 3.35M |
TIDMBOD
RNS Number : 1829H
Botswana Diamonds PLC
02 December 2020
2(nd) December 2020
Botswana Diamonds PLC
("Botswana Diamonds" or the "Company")
Kimberlite pipe discovered at Thorny River
Botswana Diamonds is pleased to report the discovery of a new kimberlite "blow" (i.e. a small pipe) located on our Thorny River project in South Africa. The blow was discovered during our recent drilling programme and covers a target area of 0.4 hectares.
John Teeling, chairman, commented. "Our drilling has discovered a small kimberlite pipe ("a blow") on the Thorny River project. This is very significant as the nearby Marsfontein (0.4 hectares) and Sugarbird (0.5 hectares) blows were extremely profitable diamond-producing operations. We are moving forward with a programme to define the extent of this new resource particularly as the diamond grades are known to be consistent across the whole area".
A total of six holes were drilled in the Thorny River area. A combined total of 39.5m intersected kimberlite while an additional 55m intersected a weathered kimberlite breccia. The best hole contained a down-the-hole (at forty-five degrees dip) intersection of kimberlite and kimberlite breccia of 19m. Both kimberlite and kimberlite breccia are being analysed for diamonds and indicators. We have enough data to construct a preliminary 3D model of the resource and to estimate kimberlite volumes. Following this we will perform core drilling to confirm the precise geology and kimberlite profile.
Drilling on the Marsfontein targets discovered no additional extensions to the M8 kimberlite. The focus on this property will be on the diamondiferous alluvial deposits confirmed by our recent geophysics programme and by Professor Tania Marshall, the current Chairperson of the SamCode Standards Committee and a recognised expert in the geology and assessment of diamondiferous alluvial deposits. A further five targets will be drilled in the Thorny River area in the near future.
This release has been approved by James Campbell, Managing Director of Botswana Diamonds plc, a qualified geologist (Pr.Sci.Nat), a Member of the Geological Society of South Africa, 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 35-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 Michael Cornish Roland Cornish +44 (0) 020 7628 3396 Beaumont Cornish Limited - Broker Roland Cornish Felicity Geidt +44 (0) 207 628 3396 First Equity Limited - Joint Broker Jason Robertson +44 (0) 207 374 2212 Blytheweigh - PR +44 (0) 207 138 3206 Megan Ray +44 (0) 207 138 3553 Rachael Brooks +44 (0) 207 138 3206 Said Izagaren +44 (0) 207 138 3206 Naomi Holmes +44 (0) 207 138 3206 Teneo Luke Hogg +353 (0) 1 661 4055 Alan Tyrrell +353 (0) 1 661 4055 Ross Murphy +353 (0) 1 661 4055
www.botswanadiamonds.co.uk
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(END) Dow Jones Newswires
December 02, 2020 02:00 ET (07:00 GMT)
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