Botswana Diamonds awarded Mooikloof prospect

Aim-listed Botswana Diamonds has been awarded a prospecting licence for the 2.5 ha Mooikloof diamondiferous kimberlite pipe concession, in Limpopo, South Africa.

The award of the Mooikloof prospecting licence is an important development for Botswana Diamonds, since the company believes that past explorers have systematically underestimated the kimberlite pipe size, grade and diamond quality of the kimberlite.

This prospective mine is adjacent to diamond miner De Beers’ now-closed Oaks mine, which had a grade of 53 carats per hundred tonnes (cpht) of ore at a value of $156/ct.

Mooikloof is also near De Beers’ flagship Venetia diamond mine, in Limpopo.

Moreover, Botswana Diamonds has also received the technical economic evaluation (TEE) report on its Thorny River diamond project, which is a consolidation of the Frischgewaagt, Hartbeesfontein and Doornrivier properties, in Limpopo.

The deposit is between 1.2-million and two-million tons, grading between 46 cpht and 74 cpht, and values between $120/ct and $220/ct.

The TEE report indicates positive economics could potentially be achieved using the top end of the grade and value ranges, assuming additional kimberlite volume of similar grade and value can be defined with further exploration.

“The TEE report has provided the directors with sufficient information to conclude that the Thorny River project requires further investigation. Consequently, the directors are considering the company’s various technical and commercial options, which will be studied simultaneously with ongoing exploration,” the company stated.

Botswana Diamonds chairperson John Teeling commented that the company would now refine the volume, grade and value estimates while working on the mining model.

Meanwhile, drilling at Botswana Diamonds’ Ontevreden exploration project, in the North West, which is part of the company’s Vutomi Joint Venture in South Africa, has confirmed the existence of a kimberlite pipe; however, it showed the pipe to be smaller than the previously indicated geophysical anomaly.

Sampling at the site previously indicated abundant G10 and G9 garnets alongside a suite of eclogitic garnets.

Teeling said modern mineral exploration technology is not a magic bullet. Modern geophysics indicated a 0.7 ha pipe at Ontevreden.

Botswana Diamonds will not be doing further work on the noncommercial Ontevreden.