8th Aug 2014 07:37
LONDON (Alliance News) - Botswana Diamonds saw its shares rise in early trade on Friday after the group said a drilling programme will start at its Orapa prospect in Botswana in the third week of September.
The firm said two specific targets will be drilled at its PL117/2011 prospecting licence, AN117/1 and AN117/2, which are both based in the northern portion of the 2.9 square kilometre block.
The targets, identified through recent work by joint venture Sunland Minerals, a partnership between Botswana Diamonds and Alrosa-Nyurba OJSC, the Russian diamond mining group, are prospective for the discovery of kimberlite bodies.
Verification drilling depth will be 100 metres, and after the core is studied in Botswana, the specimens and samples from the site will be dispatched to St Petersburg, Russia for analysis, Botswana Diamond said.
The group also said an extensive work programme is being finalised for the new licences, and an enlarged team from Alrosa is due to join the existing Botswana Diamonds team at the site in September.
"It has taken two years of painstaking data gathering and analysis to get to first drilling. The programme is eagerly anticipated," said Botswana Diamonds Chairman John Teeling.
Botswana Diamonds shares were up 5.3% to 2.5 pence early Friday, putting the firm among the top five risers on AIM.
By Sam Unsted; [email protected]; @SamUAtAlliance
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