Botswana Diamonds plc [BOD] - First Diamond Recovered in Cameroon
Exploration
25 July 2012
First Diamond Recovered in Cameroon
Exploration
Botswana Diamonds plc (AIM: BOD) (“Botswana Diamonds”) is
pleased to announce that it has recovered a 2 carat diamond at its sampling
project at Libongo in the Cameroon. The diamond is a low value, near gem quality
stone. A 300 tonne bulk sample has been taken from a palaeoplacer conglomerate
identified by Botswana Diamonds in 2011 and is being processed. The objective
was to confirm the diamondiferous potential of the deposit.
Libongo is a
very remote site in dense rainforest in eastern Cameroon. The 400 sq km licence
lies adjacent to the Mobilong diamond mine being developed by CNK Mining of
South Korea. Heavy rains and equipment breakdowns have delayed the processing of
the material but the full results are expected to be known by the end of Q3
2012.
John Teeling, Chairman of Botswana Diamonds, commented:
“Our
exploration in Cameroon is justified. We found a diamond in the palaeoplacer
conglomerate. Diamonds being mined from palaeoplacers is a relatively new
phenomenon and only gradually finding acceptance due mainly to the Marange
discoveries in Zimbabwe. Botswana Diamonds was an early mover when rumours of
diamonds in Cameroon palaeoplacers emerged. We obtained a large licence next
door to a Korean company, CNK, who claimed to have a commercial diamond
discovery. Two years later we have found the rock type and now a diamond in this
rock. The stone is of industrial quality but proves the concept. Meanwhile, CNK
is completing the construction of a diamond mine. We will complete the
processing of the 300 tonne bulk sample and prepare for the next
stage.”
______________________________________________________________________
This
release has been approved by Robert Bouquet. Mr Bouquet is a Director of
Botswana Diamonds and has 18 years’ experience in the rough diamond trade,
including previous experience as a rough diamond buyer in
Africa.
_______________________________________________________________________
No comments:
Post a Comment