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African Diamonds plc

Publié le 10 juin 2010

Drilling to start on 3 Botswana kimberlites - AK8, AK9 and BK5

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10 June 2010

Drilling to start on 3 Botswana kimberlites - AK8, AK9 and BK5.

 

  • The AK6 mine is scheduled to start in Q3 2011
  • An 800 hole reverse circulation drilling programme will begin shortly on the AK8, AK9, BK5 kimberlites in Orapa, Botswana
  • A thorough review of six years of drilling and prospecting data suggests that grades could be higher in AK8 and AK9 and that the size of BK5 may triple
  • The  three kimberlites are 100% owned by African Diamonds

 

Board approval is expected at the end of June for the final AK6 feasibility studies (African Diamonds 40% and Lucara 60%). The mine remains scheduled to come on stream in Q3 2011. African Diamonds is ramping up exploration on its 100% owned Botswana exploration licences. The focus will be on three Orapa kimberlites each with the potential to be stand alone or feeder mines to the AK6 mine.

 

Following a detailed review of earlier work done on kimberlites AK8, AK9 and BK5, an 800 reverse circulation drill hole programme will commence in the coming weeks at a cost of approximately $1m.  The purpose of the drilling is to accurately delineate the size of each kimberlite and to estimate microdiamond and heavy mineral grades.

 

The results should enable African Diamonds to move to engineering and financial studies on whether or not the kimberlites can be developed as open pit mines on a stand alone basis or as feeder mines to the AK6 mine.

 

The close to surface/outcropping areas of the AK8 and AK9 kimberlites, where extensive data already exists, will be the principal targets. BK5 is at an earlier stage of exploration but has significant potential.

 

The AK8, AK9 & BK5 kimberlites

 

All three contain diamonds.

 

AK8 is situated approximately 10km from AK6 and 10km away from Debswana?s Orapa Mine. It is a two lobe, 5 hectare kimberlite. The pipe is estimated to contain 20M tonnes of kimberlite to a depth of 300m. The diamond grade is estimated to be between 5-10 carats per hundred tonnes (cpht). There is insufficient data to make an estimate of the diamond value. The latest assessment of AK8 suggests that there could be filtering of the


earlier drill grades. There may be an economic opportunity on the kimberlite lobe outcropping on the surface.

 

AK9 is a 3 hectare kimberlite pipe, also situated 10km away from AK6. The pipe is estimated to contain 11M tonnes to a depth of 250m. The diamond grade is estimated to be between 5-10cpht with upside potential. There is insufficient data to make an estimate of the diamond value. As with AK8, a re-assessment of the kimberlite suggests that there could be filtering of the drill grades and so higher grades are possible. There is a potential economic opportunity with the portion of the kimberlite outcropping on the surface.

 

BK5 is recorded as having a surface extent of 2.7 hectares but recent work by African Diamonds suggests the anomaly is at least seven hectares in size. Much of the kimberlite is at surface and historical records suggest a grade of around seven cpht.

 

John Teeling, chairman, commented ?The focus of the past two years has been on AK6.  It is now time to evaluate our other assets in the Orapa region.  African Diamonds holds 100% of some of the very best diamond ground in Botswana, containing over 20 known kimberlites.  During the past six years extensive exploration has been undertaken on this ground at a cost of millions of dollars.  Three discoveries in Orapa, the AK8, AK9 and BK5 kimberlites, contain diamonds and may, in part or as a whole, become commercial mines.

 

?We have spent the past three months re-assessing the prospecting and drilling data on AK8, AK9 and BK5.  We will shortly begin a drilling programme of up to 800 reverse circulation drill holes to clarify the size, grade and value per carat of each of the three pipes.?

 

This release has been approved by Alex van Zyl, Technical Director African Diamonds.   Alex van Zyl (B.Sc. Stellenbosch, B.Sc. Hons. Pretoria) spent a long career in Anglo American in the diamond division, ending up 1990 to 1997 with worldwide responsibility for diamond exploration and evaluation.  He was a consultant to De Beers from 1997 to 2002.

 

Further information:

African Diamonds Plc

John Teeling                                                           Tel: +353 1 8332833

James AH Campbell                                               Tel: +27 83 457 3724

Finn Cap

Matthew Robinson, Corporate Finance           Tel: +44 (0) 20 7600 1658

Henrik Persson, Corporate Finance

Joanna Weaving, Corporate Broking               

College Hill

Nick Elwes                                                              Tel: +44 (0) 20 7457 2020

 

www.afdiamonds.com

 

Données et statistiques pour les pays mentionnés : Botswana | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Botswana | Tous

African Diamonds plc

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African Diamonds est une société développant des projet miniers de diamants basée en Irlande.

Son principal projet en développement est AK6 au Botswana et son principal projet en exploration est AK8 au Botswana.

African Diamonds est cotée au Royaume-Uni. Sa capitalisation boursière aujourd'hui est 3,9 milliards GBX (6,1 milliards US$, 4,6 milliards €).

La valeur de son action a atteint son plus bas niveau récent le 17 octobre 2003 à 10,00 GBX, et son plus haut niveau récent le 17 février 2006 à 99,75 GBX.

African Diamonds possède 100 532 266 actions en circulation.

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Dans les médias de African Diamonds plc
22/04/2010Exercises AK6 option, now holds 40% stake
Projets de African Diamonds plc
29/06/2010(Ak6)Progress Update
10/06/2010(Ak8)Drilling to start on 3 Botswana kimberlites - AK8, AK9 and B...
23/02/2010(Ak6)Discovery Update
30/09/2008(Ak6)AK06 Diamond Discovery, Orapa, Botswana
22/06/2007FINAL DRILLING RESULTS FROM THE AK6 DIAMOND DISCOVERY ORAPA ...
26/05/2006(Ak6)Update on AK6 diamond discovery in Botswana
11/04/2006(Ak6)Update on drilling results from AK6 Orapa Botswana
13/03/2006(Ak6)Further drilling results from the AK6 diamond discovery
08/03/2006(Ak6)Further drilling results from the AK6 diamond discovery
02/02/2006(Ak6)further strong drilling results from AK6 in Orapa Botswana
Communiqués de Presse de African Diamonds plc
28/04/2010Placing of New Shares
06/04/2010Directors' Options
06/04/2010RNS AFD 060410 New Placing
18/03/2010Interim Report March 2010
10/03/2010De Beers Shareholding
26/01/2010Highlights of the Chairman's AGM Statement
18/12/2009Sale of AK6 Stake to Lucara Concluded
16/12/2009Preliminary Results 2009
12/11/2009Rapid Mine Development Following De Beers' Buyout
05/08/2009RNS AFD 050809 Atlas PLs
11/03/2009Change of Adviser
28/01/2009Highlights of Chairman's Statement at AGM
16/12/2008Preliminary Results for Year Ended 30 June 2008
12/08/2008AK6 Mining Licence, Orapa, Botswana Update
30/07/2008Update on AK6 Developments
24/07/2008Developments on the AK6 Diamond Deposit. Orapa, Botswana
25/07/2007New Botswana Diamond Exploration Ground Awarded to African D...
28/06/2007Update from the AK6 Diamond Discovery in Orapa Botswana
28/03/2007ACQUIRES A CONCESSION OVER THE DROUJBA KIMBERLITE AND SURROU...
12/03/2007Acquires 35% of a company that has a de Beers JV in the DRC
31/03/2006Interim results for the 6 months to 31 December 2005
13/02/2006Notification of major interests in shares
06/01/2006Director's Dealings
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