30th Apr 2014 09:40
LONDON (Alliance News) - Botswana Diamonds PLC Wednesday said it has achieved positive results from initial analysis of exploration at its PL117 site in Orapa.
The diamond miner, which is yet to produce any revenues, said the initial fieldwork was completed on time and on budget and showed scope for discovery of new kimberlite blocks, particularly in the north of the site.
The company said it has identified two drill targets and anticipates that further drill targets will be identified as the second batch of mineralogical samples is fully analysed over the coming months before a specific drilling programme targets areas with the highest potential.
Botswana said the initial fieldwork included geophysical surveys which helped build a new map of the magnetic field in the region and heavy mineral sampling which is has already been analysed and interpreted.
The company said a second, larger batch of samples is currently on its way to Russia for priority mineralogical analysis and a work programme is now being prepared for new ground which has been awarded in the region of PL117 to Botswana Diamonds.
Botswana Diamonds shares were up 13% to 2.69 pence on AIM Wednesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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