Botswana Diamonds discovers new kimberlite blow at Thorny River

The AIM-traded firm said the blow was discovered during its recent drilling programme, and covers a target area of 0.4 hectares.

It said a total of six holes were drilled in the Thorny River area, and a combined total of 39.5 metres intersected kimberlite, while an additional 55 metres intersected a weathered kimberlite breccia.

The best hole contained a down-the-hole, at a 45 degree dip, intersection of kimberlite and kimberlite breccia of 19 metres.

Both kimberlite and kimberlite breccia are being analysed for diamonds and indicators.

Botswana Diamonds said it had enough data to construct a preliminary 3D model of the resource, and to estimate kimberlite volumes.

Following that, it said it would perform core drilling to confirm the precise geology and kimberlite profile.

Drilling on the Marsfontein targets discovered no additional extensions to the M8 kimberlite, the company added.

The focus on that property would be on the diamondiferous alluvial deposits confirmed by our recent geophysics programme and by SamCode Standards Committee chair, professor Tania Marshall, who the firm described as a “recognised expert” in the geology and assessment of diamondiferous alluvial deposits.

A further five targets would be drilled in the Thorny River area in the near future.

“Our drilling has discovered a small kimberlite pipe on the Thorny River project,” said chairman John Teeling.

“This is very significant as the nearby Marsfontein and Sugarbird blows were extremely profitable diamond-producing operations.

“We are moving forward with a programme to define the extent of this new resource particularly as the diamond grades are known to be consistent across the whole area.”

At 0928 GMT, shares in Botswana Diamonds were up 12.5% at 0.9p.