Botswana Diamonds finds fresh kimberlite blow at Marsfontein

13th Sep 2023 13:13

(Sharecast News) - Botswana Diamonds updated the market on its Marsfontein and Thorny River Projects in South Africa on Wednesday.

The AIM-traded company said it was currently mining the dumps at Marsfontein, and exploration activities, including drilling and geophysics, had identified a fresh kimberlite blow between five and 10 metres wide, and about 13 metres from the surface.

While the company awaited outstanding permits to mine Thorny River, it said it would continue mining at Marsfontein.

"As a proof-of-concept project Marsfontein is delivering diamond recoveries and values above expectations as previously reported in August," said chairman John Teeling.

"This augurs well for Thorny River.

"The discovery of an unmined blow is excellent news and will enable ongoing production until final permits to mine Thorny River are received."

At 1013 BST, shares in Botswana Diamonds were flat at 0.78p.

Reporting by Josh White for Sharecast.com.