18th Sep 2014 09:51
LONDON (Alliance News) - Botswana Diamonds PLC saw its stock surge more than 16% Thursday, after it said it continues to make progress on site at Orapa in Botswana, and it plans on commencing drilling in the next 10 days.
The diamond mining company is embarking on an exploration programme with its joint venture partner AK Alrosa OAO, on its licences in the diamond province of Orapa in Botswana.
"With drilling commencing in the next ten days, I look forward to updating the market with initial drill results in the next month," said Chairman John Teeling in a statement.
In the statement, Botswana Diamonds said the team will carry out a detailed ground geophysics programme in the area of anomaly AN117-1 on Block PL117 to target drill sites.
It said the team will also carry out a widespread geophysics and ground sampling programme on the company's licences PL206-PL210, which it was awarded in the second quarter.
Botswana Diamonds shares were up 16.2% at 3.05 pence per share, amongst the best-performing stocks on the London AIM.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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