2nd Mar 2016 09:50
LONDON (Alliance News) - Botswana Diamonds PLC Wednesday provided further details of its exploration programme in Botswana, which it will commence this month, managed by its 50% venture partner, Russian diamond mining group AK Alrosa PAO.
The budget of the programme is USD700,000, half of which will be paid by Botswana.
The programme, which Botswana described as "very focused", will involve drilling one core hole to 300 meters depth and one or two large diameter holes, also 300 metres deep on PL 260 in the Orapa area. This will be followed-up with the drilling of two or three further hole at 80 metres on PL 210 in the same area.
"The wide diameter holes to be drilled on a known kimberlite on our new licence in Orapa, PL 260, are to test whether diamond grades improve at depth," said Chairman John Teeling in a statement. "The follow up holes on PL 210 are to investigate local geophysical anomalies (magnetic and electromagnetic) which can be connected with kimberlites."
Shares in Botswana were untraded Wednesday morning, having last traded at 0.820 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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