Good hopes at Marange fields

Zimbabwe, an exciting opportunity has been acquired in the Marange Diamond Fields in Zimbabwe. A special purpose vehicle (SPV) has been established with Vast to develop diamond ventures in Zimbabwe. Vast has exclusive access to the Hermitage Concession (Block T1A) in Marange. Initial work done has identified several targets for placer deposits, as well as potential for the older conglomerates mined elsewhere in the area.

 

Botswana has an initial 13% interest which could rise with subsequent funding. The first US$1m funding will be supplied by Vast. According to John Teeling, Chairman- Botswana Diamonds about the Marange Future, “ In better times for junior explorers we believe Botswana Diamonds would be riding high, getting access to the Marange diamond fields, anticipating a new partner in Sunland seeing progress on the Maibwe Project and receiving revenue and working towards a maiden resource at Thorny River.

 

There is likely to be significant activity on the Maibwe joint venture. A number of potential options exist including that of Botswana Diamonds increasing their stake. A new partner in Sunland will energise the exploration efforts and bring renewed focus to our activities. We are very excited about Zimbabwe. We know the geological potential of Marange. We as yet do not know the commercial terms. We will continue our corporate and investor relations programme to bring our potential to the attention of new investors.”

 

 

Key: Zimbabwe diamonds, Marange Diamond Fields, Botswana Diamonds, Marange Block T1A  

•