Environmental Authorisation granted to mine Marsfontein Gravels
Botswana Diamonds ("BOD"), is pleased to announce its associate Vutomi (BOD interest 40%) has been granted Environmental Authorisation over a substantial portion of the residual diamond-bearing gravels produced from the very high grade Marsfontein mine, which is contiguous to our Thorny River operation.
This essential authorisation is a critical step towards obtaining a Mining Permit, which we expect to receive shortly. A Mining Permit covers an area of 5 Hectares and has a lifespan of 2-years, which is renewable.
John Teeling, Chairman, said "We believe that the mine gravels and unprocessed stockpiles around the Marsfontein mine contain commercial grades of diamonds. To secure the Mining Permit we need certain approvals. Granting of the Environmental Authorisation is a critical step. This facilitates the issuing of the Mining Permit necessary for BOD to recover and sell the diamonds. We plan to shortly commence royalty mining operations at no cost to the company."
The very high grade of the Marsfontein mine (172 carats per hundred tonne or 'cpht') distracted the original miners from the gravels - though these were confirmed to be diamond-bearing through subsequent sampling.
BOD has identified potential partners to process the gravels and stockpiles. We expect mobilisation to commence within six weeks.
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
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
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