BSE- and Aim-listed Botswana Diamonds has completed a gravity survey over four high-grade geophysical targets that had good magnetic response in a previous survey undertaken by the company.
Preliminary results from this gravity survey show that at least one of the four targets, which is located 6 km south of the existing KX36 diamond discovery, in Botswana, has an “excellent” gravity response, similar to that of known kimberlites, and is similar in size to KX36.
The survey on the KX36 size anomaly is being repeated and correlated with previous results for confirmation.
A drilling plan will follow.
Botswana Diamonds, which has operations in South Africa, Botswana and Zimbabwe, highlights that the new kimberlite targets have considerable potential to upgrade the existing resources in the area, including at the Ghaghoo mine, which is currently under care and maintenance and only 60 km away from the KX36 project.
The KX36 project is a 3.5 ha kimberlite pipe in the Kalahari.
The pipe has resources of 17.9-million tonnes at 35 carats per hundred tonnes (cpht) (indicated) and 6.7-million tonnes at 36 cpht (inferred) at $65/ct.
The modelled grade range is 57 cpht to 76 cpht at an estimated diamond value of up to $107/ct.
“This is the first strong indication of additional kimberlites around the KX36 discovery. Kimberlites come in clusters, but extensive exploration has, to date, not been successful.
“The anomaly has a strong gravity signature which gives us confidence that, when drilled, it will prove to be a kimberlite. The anomaly sits on a structure like all the other kimberlites in the Kalahari, which further increases confidence. It is early days but very good news,” says chairperson John Teeling.