FDI Firestone Diamonds Plc

RNS Number:9157L
Firestone Diamonds PLC
22 October 2001

                            Firestone Diamonds plc

 Exceptional results produced from exploration at Mopipi project in Botswana
                       New prospecting licence granted

LONDON:  22 October, 2001

Firestone Diamonds plc (the "Company") today announces the latest results from
exploration at its Mopipi joint venture project in Botswana.  The Mopipi joint
venture project covers an area of over 2,000 square kilometres and is located
approximately 50 kilometres west of De Beers' major Orapa and Letlhakane
mines.

Philip Kenny, CEO of Firestone Diamonds, commented today: "The results we are
announcing today significantly increase our confidence in the presence of
diamondiferous kimberlite in the Mopipi project area.  As kimberlite pipes
typically occur in clusters of up to 40 pipes, and no kimberlite has ever been
discovered west of Orapa, we continue to believe that the potential for the
discovery of a new kimberlite field at Mopipi is very good.  Such a discovery
would be of substantial potential commercial significance.  We have also
identified a new area with good exploration potential in the Mopipi region,
and are pleased to announce that we have been granted a prospecting licence
over this area, expanding the size of the Mopipi project by 50% to
approximately 3,000 square kilometres."

A high density sampling programme has been under way at Mopipi since the
beginning of the year.  This sampling programme was focused on areas from
which anomalous kimberlitic indicator mineral counts had been obtained from
previous reconnaissance sampling.  During the last phase of this programme,
which has now been completed, several hundred samples were taken on and around
60 targets which had been identified by photo feature analysis, ground
geological mapping and kimberlitic indicator mineral anomalies.  The majority
of these targets are located in the Mopipi Central and Mopipi South licence
areas and coincide with the intersection of a deep seated north-south
structural trend with east-west trending dykes and fractures.  Kimberlite
intrusions typically exploit such intersections.

Mopipi Central

The latest sampling produced significantly anomalous counts of kimberlitic
indicator minerals on the majority of the targets sampled.  In particular, an
intense concentration of samples with exceptionally high counts of kimberlitic
indicator minerals was identified in an area approximately 5 kilometres square
located in the Mopipi Central licence area.  This area, known as the Mopipi
Dam area, contains 35 targets which were sampled.  While previous sampling in
the Mopipi license areas has produced a high count of 88 grains of kimberlitic
garnet, the recent sampling in the Mopipi Dam area produced 11 samples with
more than 200 grains of kimberlitic garnet, with the highest count returned
being 947 grains.  These results provide very strong evidence of the close
proximity of a kimberlite source, particularly in the Mopipi Dam area.

Microscope examination of the kimberlitic garnets recovered from the latest
sampling has been carried out, and has revealed that a significant number of
the garnets exhibit fresh, angular, unabraded surfaces which indicates that
they have not travelled far from their source.

Further evidence of the proximity of these samples to their kimberlitic source
is provided by the identification for the first time of olivine and enstatite,
which was present in most of the samples taken.  Olivine and enstatite, which
are primary constituent minerals of kimberlite, are chemically unstable and
are typically only found on or close to their source.  Samples in the Mopipi
Dam area contained an abundance of olivine crystals varying in colour from
dark green to olive green, with the large crystals exhibiting rough outlines,
indicating that they have not been transported and are derived from an
underlying source nearby.  Next in abundance to olivine were light yellow to
brown enstatite crystals, which also exhibit fresh, unabraded textures.  The
samples were also examined for chrome diopside, a fragile kimberlitic
indicator mineral that is quickly broken down when exposed on surface, and is
typically only found as rare grains within hundreds of metres from its source.
Twenty six grains of chrome diopside were recovered from twelve samples in
the Mopipi Dam area.

Two microdiamonds were recovered from recent sampling, bringing the total
number of diamonds recovered to six, of which five were recovered in or close
to the Mopipi Dam area.  As the recovery of diamonds from soil samples is
rare, this provides strong evidence that the kimberlite source from which the
indicator minerals are derived is diamondiferous.  Electron microprobe
analysis of selected garnets recovered from recent sampling identified 36
pyropes as G10 garnets and 44 eclogitic garnets as coming from the Diamond
Inclusion (DI) field.  The presence of G10 garnets and DI eclogitic garnets
also indicates that the kimberlite sources from which the samples are derived
are diamondiferous.

On the basis of recent results, targets in the Mopipi Dam area have been
selected as the first targets to be drilled.  In preparation for this, a short
programme of probe drilling was recently carried out to confirm the
classification and stratigraphy of the bedrock in the Mopipi area.  This work
has confirmed the bedrock as being of Karoo age, as suspected.  A gravity
survey is now planned for the Mopipi Dam area to properly delineate individual
targets and to provide precise locations for siting of the drill holes,
following which a comprehensive drilling programme will be carried out.

Highlights of the sampling results in the Mopipi Dam area are as follows:

         Sample Garnet                                          Chrome Diopside

            FN5               947                                             4
            FN9               651                                             2
            FN4               524                                             3
            FS1               440                                             3
            FS2               358
            FN2               350                                             3
            FN6               300
           T8S2               296
           FS7R               276
           T8S1               227
           PIT1               224                                             1
            FS6               187
            FN1               173                                             3
            FN3               163                                             1
            FS3               160                                             1
            FF1               129                                             1
            FS5               128
           FS7A               106                                             1
            T6N               100                                             1



Mopipi East

Analysis of recent and historical sampling carried out in the Mopipi South
area has identified a number of new areas which contain significantly
anomalous pyrope garnet counts and substantial numbers of G10 garnets.
Initial aerial photographic interpretation and ground geological mapping of
these areas indicate that these anomalies extend to the east of Firestone's
current prospecting licence areas.  The Company has therefore applied for a
new prospecting licence covering an area of approximately 936 square
kilometres.  This prospecting licence for this new area, known as Mopipi East,
has recently been granted and brings the total area being explored by
Firestone in the Mopipi region to approximately 3,000 square kilometres.  Soil
sampling on the Mopipi East area is expected to commence in early 2002.

Background information:

Botswana is a stable country with good infrastructure and is the world's
largest producer of diamonds by value, accounting for over 23% of worldwide
production.  Botswana is considered to be the best country in the world to
explore for kimberlite - the primary source rock for diamonds - and it is
likely that further economic kimberlite discoveries will be made there.  De
Beers' Orapa, Letlhakane and Jwaneng mines produce over 20 million carats per
annum, worth over $1.6 billion.  The Orapa Mine has been in production since
1971 and is currently undergoing an expansion in capacity to 12 million carats
per annum, worth approximately $800 million.

Firestone is also active in the Namaqualand region of South Africa, which is
one of the world's top alluvial diamond producing areas.  Firestone's projects
in Namaqualand include the Avontuur Mine and Oena Mine, both of which produce
high quality gem stones, and an extensive portfolio of exploration properties.
Firestone is quoted on the London Stock Exchange's Alternative Investment
Market (AIM).

For further information:

Philip Kenny, Firestone Diamonds                  020 7370 6452 / 07831 324 645

Laurence Read, Golin Harris Ludgate               020 7324 8505 / 07979 955 923

Jamie Cumming, Bell Lawrie                        0141 314 8103 / 07768 044 620

Website: www.firestonediamonds.com

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