| Tue 24 Nov 2009, 8:30 | | DMC - DiamondCorp - Jwaneng South Drilling Update |
|
DMC
DMC
DMC - DiamondCorp - 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
HIGHLIGHTS
- The second diamond borehole at J1 intersects kimberlite from 15.53 m to the
end of the hole at 301.00 m vertical depth.
- Samples from the two boreholes have been shipped to Johannesburg for
microdiamond recovery and interpretation.
UPDATE
DiamondCorp, the Southern African diamond mining and exploration company, is
pleased to announce an update on drilling of the J1 kimberlite in the Jwaneng
South Project Area in Botswana.
The Company`s second diamond drill hole J1/002 located 200 m ENE of bore hole
J1/001 in the eastern portion of the approximately 10 hectare geophysical
anomaly outlining the J1 kimberlite target has been completed to a vertical
depth of 301 m and intersected kimberlite from 15.53 m vertically down hole to
the end of the bore hole.
Logging of the core reports Kalahari sand to 15.53 m, severely calcretised
kimberlite from 15.53 m to 51.05 m, weathered massive volcaniclastic kimberlite
("MVK") from 51.05 m to 107.42 m and `relatively fresh` MVK kimberlites from
107.42 m to the bottom of the bore hole at 301.00 m.
The bore hole comprises HQ size core (63 mm diameter) from 15.53 m to 201 m, and
NQ size core (47.7 mm) to the end of the hole.
Samples from the two holes have now been shipped to MSA Analytical Laboratories
in Johannesburg for microdiamond recoveries. Microdiamond interpretations will
be undertaken by independent experts. Petrographic analyses of the differing
kimberlites will be undertaken by Mr Paul Zweistra of VP3 Geoservices (Pty)
Limited ("VP3").
DiamondCorp managing director and CEO, said: `We are pleased that J1 is emerging
as a large kimberlite with the potential to host significant volumes of open
pittable material. We look forward to updating the market with results from the
microdiamond analysis early in 2010.`
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.
23 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 Ribero/Tim Blythe, Blythe Weigh Communications
+44 20 7138 3206/+44 20 7138 3205
Date: 24/11/2009 08:30:02 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
