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Botswana Diamonds eyes Zimbabwe

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Alternative Investment Markets listed firm, Botswana Diamond (BoD), says it has begun carrying out small bulk sampling on diamond claims in Masvingo to determine if there are any kimberlites.

In a trading update on Monday, BoD also said sampling operations had commenced on its Mobilong licence in Cameroon while data gathering preparation and analysis continued.

“Rio Tinto discovered diamond indicator minerals and kimberlites on the claims,” BoD said.

“The purpose of the work on the claims which are 49% owned by BoD and 51% local Zimbabwean ownership, is to confirm the presence of kimberlites and to determine if they are diamondiferous.”

BoD plc is a diamond exploration and project development company that holds exploration licences in Botswana and Cameroon as well as early-stage diamond licence applications in certain areas of Zimbabwe.

Last month, the diamond exploration and project development company announced it had conditionally raised £1,51 million mainly for its exploration projects in Botswana, Cameroon and Zimbabwe.

It also announced it would mobilise exploration projects at the Chimanimani and Marange sites in Zimbabwe as soon as mining licences were obtained.

The company has an interest in exploration licences in the Democratic Republic of Congo.

The company’s strategy is to have a pipeline of projects in Southern and Central Africa stretching from early stage diamond exploration to existing late stage development and eventually production.

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