Botswana Diamonds upbeat on latest kimberlite model at Thorny River

The AIM-traded firm said that, following the recently-announced discovery of a second kimberlite blow at Thorny River, independent specialists aggregated all the geophysical and drilling data to model the potential kimberlite volume of the two adjacent blows and the connecting kimberlite.

It said the updated model estimated a range for the two blows of between 300,000 and 600,000 tonnes in total, which was up to a three-fold increase in the volume following the modelling of the first blow.

Sample processing results from the company’s May programme was expected to be available by the end of July, which it said would determine geological and grade continuity.

The firm’s expectation, based on the historical grade of Thorny River and Marsfontain dykes, was 60 carats per hundred tonnes.

Immediately following that, Botswana said it was planning to drill the potential mineralisation between the two kimberlite blows to test its belief that the two blows potentially joined.

That would also refine its estimate of volumes.

“The revised model, potentially tripling the estimate of contained kimberlite, is very positive,” said chairman John Teeling.

“The extension of the blow eastwards toward the blow discovered in earlier drilling offers the tantalising prospect of joining the two into one orebody.”

Teeling said the company expected to drill the area between the two blows in August.

“These are significant steps towards potentially discovering a commercial diamond orebody.”

At 1134 BST, shares in Botswana Diamonds were down 0.48% at 1.05p.