27th May 2014 09:23
LONDON (Alliance News) - Botswana Diamonds PLC said Tuesday that it had won five new prospecting licences in the Orapa region of Botswana, covering a total area of 1,357 square kilometres.
It will explore the new licences under its ongoing joint venture with Russian diamond mining giant Alrosa Group.
Botswana Diamonds said that two of the licences are of particular interest because they had previously posed challenges due to the depth of sand and swamp conditions. Neither licence contains known kimberlites, the company said. However it said Alrosa's analysis indicates the presence of kimberlites.
The exploration of the new licences will be undertaken alongside Botswana Diamonds' work with Alrosa on the small PL117/2011 licences in the area.
It has identified two drill targets in PL117. Analysis of samples is currently underway, and the first results are expected in the coming weeks.
The companies have a joint budget of USD1 million for 2014, Botswana Diamonds said.
Shares in Botswana Diamonds were last quoted flat at 2.50 pence Tuesday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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