14th Jan 2014 11:52
LONDON (Alliance News) - Botswana Diamonds PLC Tuesday said work on licence PL117 in the Orapa area has started and its geologists have completed the advance work and procured the necessary equipment.
The geologists of its joint venture partner, Alrosa, will join them, in the Orapa region, in the coming weeks. The licence is small, 2.9 sq km, and is close to its Karowe Diamond mine.
Botswana Diamonds and Alrosa identified licence PL 117 as a key target. The Botswana Diamonds team previously discovered a diamondiferous kimberlite (AK10) on the same licence in 2004.
The firm said following a successful fundraise in December 2013, the initial Alrosa/Botswana Diamonds joint exploration project will focus on a work programme at the PL117 licence area.
"The joint venture team will carry out further soil sampling, geophysical and geochemical work to define exact drill targets, with drilling expected to commence before the end of quarter one this year," it added.
The stock was trading 3.10 pence Tuesday, up 0.15 pence or 5.1%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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