Thursday, April 11, 2013

Third licence added to Botswana Diamonds/Morminas agreement

Aim-listed Botswana Diamonds on Thursday said a third license block would now be evaluated on the Save river, in Mozambique, as part of its recently signed option agreement with a Mozambican company Morminas.
Botswana Diamonds aimed to explore the potential for alluvial and eluvial deposits that may have washed down in the river from the Marange diamond fields, which were predicted to produce up to 16.9-million carats in 2013.
The miner stated that the agreement stipulated a six-month exclusivity period during which it would review the available data on the licences and undertake preliminary exploration. Initial work had already started and a site visit had been scheduled.
Botswana Diamonds chairperson John Teeling indicated that the company would negotiate a long-term agreement with Morminas, should the analysis prove positive.
"Acquiring this additional licence increases the scope of our prospective play close to the Marange diamond fields in Zimbabwe. The experience and knowledge gained already in Zimbabwe will be invaluable in identifying diamond prospects in the Save region,” he said.

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