Botswana Diamonds PLC Update on the Vutomi Joint Venture in South Africa (6413K)
July 11 2017 - 2:00AM
UK Regulatory
TIDMBOD
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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