Tuesday, January 14, 2014
Botswana Diamonds, ALROSA Launch Joint Orapa Exploration
Botswana Diamonds started up exploration project with ALROSA at the PL117 license in the Orapa region of Botswana. The license covers 2.9 square kilometers and is located near the Karowe diamond mine, which is operated by Lucara Diamond Corporation. Botswana Diamonds previously discovered diamonds in the AK10 kimberlite in the same license area in 2004.
The company secured enough capital to launch the joint venture with ALROSA through a successful round of fundraising in December 2013. Botswana Diamonds' geologists have since completed advance work and procured the necessary equipment for the project. ALROSA's geologists are expected to join the Botswana team in the coming weeks to carry out further soil sampling and define exact drill targets. Drilling is expected to start before the end of the first quarter.
"We are very hopeful that we will be able to improve on what was found previously. Indications are good and it is the top target identified by ALROSA," said John Teeling, the chairman of Botswana Diamonds.