24th Mar 2015 09:55
LONDON (Alliance News) - Botswana Diamonds PLC on Tuesday said its Atlas Minerals subsidiary has been awarded a new licence by the Botswana government.
The company said the PL 085/2015 licence will be explored as part of a joint venture between Botswana Diamonds and Alrosa, the Russian diamond miner.
Work carried out and currently in progress by the joint venture team, on PL 207, directly north west of the new licence, has found heavy concentrations of kimberlitic indicator minerals, particularly pyropes, in the north west of the block.
"A small but important step. We feel that there is a very good chance that unknown kimberlites exist in the area covered by our existing block PL 207 and the new block PL 085," said Botswana Chairman John Teeling.
Shares in Botswana were down 9.3% to 1.474 pence Tuesday, one of the worst performers in the AIM All-Share index.
By Sam Unsted; [email protected]; @SamUAtAlliance
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