Botswana Diamonds PLC Marsfontein Mining Permit Granted (2264R)
28 Octubre 2019 - 1:00AM
UK Regulatory
TIDMBOD
RNS Number : 2264R
Botswana Diamonds PLC
28 October 2019
28 October 2019
Botswana Diamonds PLC
("Botswana Diamonds" or the "Company")
Marsfontein Mining Permit Granted
Botswana Diamonds ("BOD"), the AIM and BSE listed diamond
explorer, is pleased to report that a Mining Permit covering the
diamond bearing gravels and residual unprocessed stockpiles
surrounding the iconic Marsfontein Mine has been granted to its
associate Vutomi Mining Pty Ltd ('Vutomi').
As previously announced, Vutomi (BOD interest 40%) has partnered
with Eurafrican Diamond Corporation ('EDC') to mine and process the
identified deposits on both Marsfontein and Thorny River. EDC has
commenced with site establishment and commissioning is expected to
commence within the next two weeks with production ramping-up once
commissioning is complete. Cash flows from Marsfontein will be used
to fund ongoing exploration work in Botswana and South Africa.
John Teeling, Chairman, said: "I am delighted that the
Marsfontein Mining Permit has been granted and that site
establishment has already commenced. I look forward to updating
shareholders as the company progresses towards being a diamond
producer."
The Marsfontein mine, which comprises a kimberlite blow, was
operated for two years in the late 1990's with a pay-back of its
entire development cost in less than four days. Marsfontein's run
of mine grade was 172cpht (at a bottom cut off of +1.2mm), and its
assortment was known to contain fancy coloured diamonds. Evaluation
work on the gravels and residual stockpiles adjacent to and
surrounding the mine, conducted at the time of mining, indicated
them to be diamondiferous with favourable economics. These deposits
were overlooked when the mine was closed.
This release has been approved by James Campbell, Managing
Director of Botswana Diamonds plc, a qualified geologist
(Pr.Sci.Nat), a Fellow of the Southern African Institute of Mining
and Metallurgy, a Fellow of the Institute of Materials, Metals and
Mining (UK) and with over 33-years' experience in the diamond
sector.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014. The person who arranged
for the release of this announcement on behalf of the Company was
James Campbell, Director
A copy of this announcement is available on the Company's
website, at www.botswanadiamonds.co.uk
ENDS
Enquiries:
Botswana Diamonds PLC
John Teeling, Chairman +353 1 833 2833
James Campbell, Managing Director +27 83 457 3724
Jim Finn, Director +353 1 833 2833
Beaumont Cornish - Nominated Adviser
Michael Cornish
Roland Cornish +44 (0) 020 7628 3396
Beaumont Cornish Limited - Broker
Roland Cornish
Felicity Geidt +44 (0) 207 628 3396
Blytheweigh - PR +44 (0) 20 7138 3206
Megan Ray +44 (0) 207 138 3222
Fergus Cowan +44 (0) 207 138 3208
Teneo
Luke Hogg +353 (0) 1 661 4055
Alan Tyrrell +353 (0) 1 661 4055
www.botswanadiamonds.co.uk
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END
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