Botswana Diamonds Takes Control of Thorny River Project

By John Jeffay / September 30, 2021 / www.idexonline.com / Article Link

(IDEX Online) - Botswana Diamonds has taken control of the Thorny River diamond project in South Africa.The UK-based exploration company exercised its pre-emptive right to acquire outstanding third-party interests in Vutomi Mining, which holds mineral rights for the project.It then sold just over a quarter of the shares to Baroville, a local South African group, to ensure compliance with black empowerment regulations.James Campbell, managing director of Botswana Diamonds, said: "Since working on Thorny River 30 years ago, we recognized potential for discoveries on a kimberlite system spanning 20km. Recent drilling vindicated this view and indicates potential for additional nearby discoveries.""Following a third party offer for Vutomi, Botswana Diamonds has exercised its pre-emption rights. This transaction streamlines exploration activities and involves the local community as supportive stakeholders in this development."Botswana Diamonds has reported abundant kimberlitic indicators from drill samples at the Thorny River kimberlite extension, which was discovered in November 2020 and says indications so far are very encouraging.

Recent News

Gold stocks rise but lag broader equity gains

January 20, 2025 / www.canadianminingreport.com

Wesdome, Seabridge and Skeena report outstanding drill results

January 20, 2025 / www.canadianminingreport.com

Smaller juniors still financed even in more cautious market

January 13, 2025 / www.canadianminingreport.com

Gold stocks shrug off equity market decline on metal gain

January 13, 2025 / www.canadianminingreport.com

Geopolitical risk outlook unclear after US election

January 06, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok