Botswana Diamonds plc [BOD] - Additional Diamonds Discovered in Libongo,
Cameroon
12 September 2012
Additional Diamonds Discovered
in Libongo, Cameroon
The directors of Botswana Diamonds plc (AIM: BOD)
(“Botswana Diamonds”) are pleased to report that two additional diamonds have
been recovered from the on-going sampling programme on the Libongo palaeoplacer
project in Cameroon.
The current exploration programme involves
collecting a 100 tonne sample from each of three areas previously found to have
palaeoplacer rock, in order to ascertain if the rock is diamondiferous. The
ultimate objective is to assess whether a deposit similar to the adjacent
Mobilong deposit being mined by CNK of Korea exists.
One of the
diamonds, a 0.25 carat near gem quality stone, was recovered from a stream
flowing through the sample area. The second, a 1.3 carat industrial quality
diamond, was recovered from the crushed sample. The programme is expected to be
completed within weeks.
John Teeling, Chairman, commented:
“This
is further evidence that our Libongo licence ground contains diamond bearing
rock similar to that being mined close by, and that this project has the
potential to deliver value to our shareholders.
“The next steps are to
undertake a bulk sample to identify grade per tonne and value per carat and to
run a scoping study on the feasibility of the project.”
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