| Wed 8 Sep 2010, 8:00 | | DMC - DiamondCorp plc - Botswana exploration update |
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DMC
DMC
DMC - DiamondCorp plc - Botswana exploration 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`)
BOTSWANA EXPLORATION UPDATE
HIGHLIGHTS
* Five diamond boreholes into geophysical target J-05 have intersected
volcaniclastic and coherent kimberlite at vertical depths up to 218 metres
under relatively shallow Kalahari sand cover.
* Drilling to date suggests a kimberlite of approximately 2ha, a similar size
to DiamondCorp`s Lace mine in South Africa.
* The J-05 kimberlite displays similar characteristics to the kimberlite
present in the nearby Jwaneng mine.
* Samples are now being despatched to Canada for microdiamond analysis.
* Drilling of three additional boreholes is continuing.
* Two of three drilling targets in the PL/71 licence area have proven to be
kimberlites.
UPDATE
DiamondCorp is pleased to announce an update on drilling of kimberlite targets
in Prospecting Licence PL/71 covering the Jwaneng South Joint Venture Area in
Botswana.
Five diamond boreholes into geophysical target J-05 have intersected
volcaniclastic and coherent kimberlite at vertical depths up to 218 metres under
relatively shallow Kalahari sand cover.
Drilling of J-05 to date has comprised four angled boreholes and one vertical
borehole totalling 879.5 metres of HQ size (63.5 mm diameter) core drilling.
The drilling to date suggests J-05 is a 2ha kimberlite (a similar size to
DiamondCorp`s Lace mine in South Africa) under 28 metres of Kalahari sand. A
further three angled boreholes are now being drilled.
Logging of the boreholes indicates the J-05 kimberlite comprises calcretised
kimberlite from approximately 28 m to approximately 50 m vertical depth, slumped
Karoo mudstones and volcaniclastic kimberlite from 50 m to up to 105 m vertical
depth, and various facies of volcaniclastic and coherent kimberlite from 85 m to
at least 218 m, the deepest drill intersections from the initial programme.
Samples from the five holes are now being shipped to Saskatchewan Research
Council`s laboratory in Saskatoon, Canada, for microdiamond recovery.
Petrographic analyses of the differing kimberlites will be undertaken by Mr Paul
Zweistra of VP3 Geoservices (Pty) Limited ("VP3").
Of particular geological interest is the presence of mudstones in the core which
indicates that the kimberlite intruded unconsolidated sediment at the time of
emplacement. In addition, kimberlite is "mixed-in" with these mudstones in
places. The mudstones are most likely to be of Karoo age (approx. 250 million
years ago). These features suggest that the J-05 kimberlite is the same or
similar age to the kimberlite being mined by Debswana at Jwaneng, 10km to the
northwest where similar features are known to be present. Jwaneng is the richest
diamond mine in the world measured by value.
DiamondCorp managing director and CEO, said: `We are pleased that J-05 is
emerging as a kimberlite with the right geological features and potential to
carry economic diamond grades. We look forward to updating the market with
results from the microdiamond analysis in about eight weeks time.`
At the J-12 geophysical target within PL/71, four boreholes have been completed
with no kimberlite intersected. The geophysical anomaly would appear to be
related to a granitic intrusion and no further work will be undertaken on this
prospect.
DiamondCorp is earning a 77.5 per cent interest in PL/71 from Botswana company
Geoperspectives (Pty) Limited by funding exploration activities. Exploration
work in PL/71 during 2009 identified a 10 ha diamondiferous kimberlite at J-01.
Results from the current programme will determine large diameter drilling
priorities for 2011.
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.
8 September 2010
London
AIM Nomad: Cenkos Securities plc
AIM Brokers: Cenkos Securities plc, Fairfax I.S. plc
JSE Sponsor: PSG Capital (Pty) Limited
DiamondCorp plc, Paul Loudon +44 20 7256 2651
Liz Bowman/Ivonne Cantu, Cenkos Securities plc +44 20 7397 8900
Ewan Leggat, Fairfax I.S. plc +44 207 598 5368
John-Paul Dicks, PSG Capital (Pty) Limited +27 21 887 9602
Charmane Russell/Marion Brower, Russell & Associates +27 11 880 3924
Date: 08/09/2010 08:00:01 Produced by the JSE SENS Department.
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