Botswana Diamonds (LON:BOD) shares raced up in early deals as its joint venture with Russian giant Alrosa was awarded a new prospecting licence in the Orapa area.
Licence PL260/2015 includes ground, which is the highest priority for the venture and contains three previously-discovered kimberlite bodies, the firm revealed.
Work has begun immediately on a review aimed at defining new anomalies and drill targets.
The 50-50 joint-venture with the world's largest diamond producer was inked a year ago and has a budget of US$1mln for 2015.
This latest licence covers 25 sq km in the Orapa region and is valid for three years from October 1, 2015.
Botswana shares added 10.34% to 0.80p.