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Botswana Diamonds begins drilling at South African discovery
Exploration and development company Botswana Diamonds has begun a drilling programme at the Ontevreden kimberlite pipe in South Africa, the company said on Monday.
Ontevreden, which is part of the company's 72% owned Vutomi joint venture, contains many key diamond indicators typically seen in high grade kimberlite pipes and Botswana Diamonds will be initially drilling five holes at the site to ascertain more conclusive information on the diamond content.
Chairman John Teeling, the veteran Irish entrepreneur, said: "We are pleased to announce the commencement of drilling at the Ontevreden kimberlite pipe. We know that the pipe contains significant quantities of G10 and G9 garnets - high quality diamond indicator minerals frequently found in high-grade kimberlite pipes. The drilling is to discover diamonds."
The pipe at Ontevreden was discovered in July and further drilling operations are intended to increase understanding of the size of the discovery, as well as its geology.
The site is nearby Petra Diamonds' now inactive Helam Mine, which yielded a grade of 267cpht and a diamond value of $145/ct at a +1mm bottom cut off according to 2014 acquired by Botswana Diamonds.
As of 0913 GMT, Botswana Diamonds' shares were up 4.35% at 1.20p.