EXPLORATION & DEVELOPMENT

Botswana Diamonds heads for Thorny River bulk sampling

Required regulatory approvals expected within the next two months

Staff reporter
Botswana Diamonds has made headway in its drilling programme at Thorny River

Botswana Diamonds has made headway in its drilling programme at Thorny River

Botswana expected to receive the approvals within the next two months.

It started drilling in mid-February and has already completed  the first phase of 18 drill holes to define the bulk sampling plan, with kimberlite found in 12 of them. It also identified a bulk sampling target of 1.5km of kimberlite fissure intersection.

The company had planned to do a total of 40 reverse circulation boreholes to a depth of 30m, with completion expected within four weeks from February 18.

Botswana has started the second phase of drilling on the farm Frischgewaagt, with all three holes drilled so far having intersected kimberlite.

One hole hit a 4.5m kimberlite intersection, the thickest to date, as well as discovered a mantle xenolith, which the company said was indicative of high diamond content.

Botswana said the third phase of drilling will start on two adjacent sites after a detailed gravity survey has been finished over two potential kimberlite blows on the same property, while a gravity survey is also underway.

The company is refurbishing the nearby diamond processing plant, which will process the bulk sample kimberlite and, later, material from Thorny River.

It has also started work on potential secondary diamond deposits in the project area, as the nearby and worked-out Marsfontein mine was host to eluvial diamond deposits with grades of 1,433 carats per hundred tonnes.

In June, Botswana completed Thorny River's technical and economic study, which indicated potentially positive economics using the top end of the 46-74cpht grade and US$120-220 per carat value ranges.

Botswana Diamonds' shares rose 9.6% Thursday after the news to 0.82p (US1.08c), with shares up 20.6% since the start of the year.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.