Kopane Diamonds (AIM: KDD) , the Lesotho diamond producer, announced that it had successfully completed the first two holes of a wide-diameter drilling programme on the Main Pipe at the Liqhobong Mine, Lesotho.
Kopane is conducting the drilling as part of a program to upgrade the resource statement for the Main Pipe and as part of a Definitive Feasibility Study which is due to be completed before the end of the year.
The wide diameter drilling program is expected to be completed in the third quarter of 2008, and will take a total of 4,700 metres of core from the pipe. 23 holes are being drilled to a depth of 150 metres with a further four holes to 250 metres. The drilling will test all four identified zones within the kimberlite, named K2, K4, K5 and K6 and will collect around 90 kimberlite samples totalling 1,800 tonnes.
Tim Read, Executive Chairman, of Kopane said:
"The wide-diameter drilling is underway, marking a new stage in Kopane's development towards significantly expanding production. Combined with additional exploration work, such as the bulk sample, we expect to announce an updated resource and Definitive Feasibility Study by the end of the year. In our recent interim results we announced £1.9 million of Lesotho diamond sales, through sales partner BHP Billiton. Realizing the full potential at Liqhobong is our primary objective and I look forward to announcing further development and diamond sale news during the half."