| Tue 17 Nov 2009, 9:00 | | DMC - DiamondCorp plc - Jwaneng South Drilling Update |
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DMC
DMC
DMC - DiamondCorp plc - Jwaneng South Drilling Update
DiamondCorp plc
JSE share code: DMC
AIM share code: DCP
ISIN: GB00B183ZC46
(Incorporated in England and Wales)
(Registration number 05400982)
(SA company registration number 2007/031444/10)
(`DiamondCorp` or `the Company`)
JWANENG SOUTH DRILLING UPDATE
DiamondCorp, the Southern African diamond mining and exploration company,
today announces an update on drilling of the J1 kimberlite target in the
Jwaneng South Project Area in Botswana.
HIGHLIGHTS
- The first diamond borehole intersects kimberlite from a depth of 17m to
the end of the hole at 340.02m vertical depth.
- At least two kimberlite varieties have been positively identified.
- The J1 kimberlite lies under shallow Kalahari sand cover.
UPDATE
The Company`s first diamond drill hole, J1/001 located in the western
portion of the approximately 10 hectare geophysical anomaly outlining the J1
kimberlite target, has been completed to a vertical depth of 340.02m. The
drill hole intersected kimberlite from 17m vertically down hole to the end
of the bore hole.
Logging of the core reports Kalahari sand to 17m, severely calcretised
kimberlite from 17m to 69m, weathered massive volcaniclastic kimberlite
("MVK") from 69m to 74m and `relatively fresh` MVK kimberlites from 74m to
the bottom of the bore hole at 340m.
The bore hole comprises HQ size core (63.m mm diameter) from 17m to 87m, and
NQ size core (47.7mm) to the end of the hole.
The drill rig has now been relocated 200 metres to the east-north-east of
bore hole J1/001 to test the eastern portion of the anomaly.
At the completion of the second hole, the core will be shipped to MSA
Analytical Laboratories in Johannesburg for microdiamond recoveries.
Petrographic analyses of the differing kimberlites will be undertaken by Mr
Paul Zweistra of VP3 Geoservices (Pty) Limited ("VP3").
DiamondCorp managing director and CEO, Paul Loudon, said: "We are pleased
with the rapid progress in drilling J1 and delighted with the shallow sand
cover which could facilitate early bulk testing if microdiamond analysis is
positive. We look forward to updating the market as the programme
progresses."
DiamondCorp is earning a 77.5 per cent interest in various exploration
licences in Botswana from Geoperspectives (Pty) Limited by funding
exploration activities. The J1 kimberlite is located 8km southeast of De
Beers Jwaneng mine, the richest diamond mine in the world measured by value.
The Competent Person responsible for the technical information contained in
this announcement is Mr Paul Zweistra (Pr. Sci. Nat., Registration number
400016/93) a full-time employee of VP3. VP3 and Mr Zweistra have given
their permission for their work to be quoted in this announcement.
17 November 2009
London
Sponsor: Investec Bank Limited
For further information, please contact:
Paul Loudon, DiamondCorp plc
+44 20 7256 2651
Joe Nally/Liz Bowman, Cenkos Securities plc
+44 20 7397 8900
Ana Ribeiro/Tim Blythe, Blythe Weigh Communications
+44 20 7138 3204
Date: 17/11/2009 09:00:01 Produced by the JSE SENS Department.
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