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Botswana Diamonds applies for exploration licenses for 12 new sites

 
Botswana Diamonds applies for exploration licenses for 12 new sites
Botswana Diamonds is applying for 12 new exploration licenses for sites in north-east Botswana after its joint venture partner's use of technology revealed new exploration targets.
 
Botswana Diamonds Executive Chairman John Teeling says the company is putting the final touches to the legal details of a formal joint venture with the joint venture partner whose name has not been revealed but which is a leading international diamond producer.

"In the past year Botswana Diamonds has made significant progress, both in the development of our prospective asset portfolio and in terms of taking big steps to becoming a stronger company," Teeling said.

"Our cooperation with a major international diamond producer reached an exciting stage when the producer's applied analysis resulted in the identification of new exploration targets in the north east of Botswana. The successful deployment of this technology has the potential to write a new chapter in diamond exploration in Africa. 12 exploration licences have been applied for following this analysis and once licences are obtained detailed ground prospecting will commence," he added.

Teeling also said that exploratory drilling would start on the miner's 100-percent owned PL170 license area in Botswana in February. The company plans to expand its exploration ground by applying for the land adjacent to the PL170 license area.

Teeling added that Botswana Diamonds was holding discussions with CNK of Korea relating to possible cooperation at the diamondiferous paleoplacer deposit in eastern Cameroon.

 
 
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