Botswana Diamonds (LON:BOD) has been encouraged by early results from the exploration programme at its jointly owned PL117 asset in Orapa, Botswana.
Sunland Minerals, the joint venture set up by Botswana with Alrosa, the Russian state-controlled diamond mining company, reported that two boreholes have been drilled on anomaly AN117/1 and two more on AN117/2.
Hole 117/1-1 was targeted at the centre of a complex geophysical anomaly, while hole 117/1-2 was targeted at the centre of an mineralogical anomaly.
Both holes on anomaly 117/1 intersected intensively altered, cracked and brecciated rocks, and these are likely to be of kimberlitic origin.
No kimberlites were identified on hole 117/2.
“This is the first time that Alrosa exploration technology has been applied in Botswana and these results support its use. We will now refine the model," said John Teeling, chairman of Botswana Diamonds.
Shares in the company were up 3.7% at 3.5p in early trading.