Significant exploration at Thorny River

Botswana Diamonds plc announces financial results for the six months ended 31st December 2017 & says recent months have been a very active exploration period for Botswana Diamonds. Significant drilling and exploration has taken place on our advanced project at Thorny River in South Africa.  We are undertaking a Scoping Study into its commerciality.

 

Drilling is ongoing on the Ontevreden kimberlite in order to delineate size and diamond content. Nine kimberlites in the Northwest and Free State Provinces of South Africa were discovered or re-discovered;

Exploration is continuing in the Central Kalahari Game Reserve (CKGR) in Botswana.

 

Through Sunland Minerals, the Company’s joint venture with Alrosa.  Botswana Diamonds personnel are currently engaged in a work programme. Progress is being made in our Maibwe joint venture in Botswana.  A prospectus is being drawn up by the liquidator of BCL, to identify options; and £500,000 (before expenses) has been raised early in 2018 to fund the ongoing exploration activities.

 

Apart from ongoing exploration activity on four projects and active involvement in bringing the Maibwe situation toward a conclusion, management and directors are examining certain proposals which have been presented to the Board.  Over the coming months shareholders can expect regular updates on both exploration and corporate activities.

 

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