20th Oct 2016 09:07
LONDON (Alliance News) - Miner Botswana Diamonds PLC on Thursday said it was "cautiously optimistic" about finding kimberlites in the Gope region of the Kalahari desert, after drilling began on the PL 135 licence.
Bostwana said it has commenced the first phase in its four-hole drilling programme in the Gope region of the desert, which is "a very remote part of the world with no people, no water, deep sand and extreme temperatures". The Kalahari desert is located across southern Africa and covers much of Botswana.
Botswana said the licence was a "top priority target" for its joint venture with fellow diamond producer Alrosa, having been selected by both parties in separate studies as having "significant potential" and never having been drilled.
Intensive soil sampling and electromagnetic studies have identified anomalies in the geology of the site.
The core resulting from the drilling programme will be analysed by Alrosa mineralogists present in Botswana and, if required, further analysis and evaluation will take place in St Petersberg, Russia.
Results from the programme can be expected in around 12 weeks.
"No mining companies have ventured here before to undertake drilling programmes. And yet the preliminary geochemical and geophysical indicators are strongly positive. We are at the cutting edge of diamond exploration and are cautiously optimistic of finding kimberlites," said Chairman John Teeling.
Shares in Botswana Diamonds were untraded on Thursday, having last traded at 1.39 pence.
By Hannah Boland; [email protected]; @Hannaheboland
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