Botswana Diamonds updates on Thorny River project

Botswana Diamonds said a scoping study of its Thorny River project had led to an updated estimate of the diamond value range of $120-$220 per carat.

In a statement, the company said the estimated diamond grade range remained at 46-74 carats per hundred tonnes and the estimated volume range remained at 1.2m - 2.1m tonnes of kimberlite.

"The study will further refine the volumes of diamonds in-situ, the grade and the value per tonne of ore. A critical aspect will be to evaluate the processing and mining options. This work is expected to take up to six months," Botswana said.

"We are satisfied that we now have a better understanding of the geology and metrics of the Thorny River deposit. What is emerging is a project with similar metrics to the neighbouring Klipspringer Mine. We are now undertaking a detailed study to refine our processing, geological and commercial parameters," said chairman John Teeling.

The Thorny River project is a consolidation of the Frischgewaagt, Hartbeesfontein and Doornrivier properties into a 2,771 hectare area in the Limpopo Province of South Africa. It comprises the eastern extension of the kimberlite dyke/pipe systems on which the Klipspringer & Marsfontein Mines are located, both of which have been economically mined.