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RAPAPORT... Paragon Diamonds was issued a prospecting license that is valid through September 2016 for a 442-square-kilometer area in the Kgalagadi District of southern Botswana. The license may be renewed twice for two year periods provided that 50 percent of the area is relinquished at each renewal, giving a total validity of seven years. The licensed area is on the northern flank of the Tsabong kimberlite field, with the closest kimberlite pipe approximately 8 kilometers south. Paragon stated that recently Pangolin Diamonds discovered new kimberlites nearby, which extend the known field to the northwest. Although the diamond potential of these new kimberlites is yet to be tested, it is evident that at least one of the bodies found is very large, perhaps greater than 200 hectares, according to Paragon. The Tsabong kimberlite field includes many large diatremes, including M1, which at 180 hectares is one of the largest kimberlite bodies in the world, Paragon stated. The field includes upwards of 60 known kimberlite bodies. The tectonic setting of the Tsabong kimberlites is the same as for the Orapa diamond field. The terrain and weather allow for exploration work year round. Work will commence with a thorough review of historical results and existing data, including extensive geophysical and mineralogical results on open file with the Geological Survey of Botswana. Martin Doyle, the executive chairman of Paragon, said, "The award of this license will complement our holdings of historical kimberlite discoveries. I am very familiar with this area and the era of work having been part of the team that discovered the Lekgudu kimberlites to the southwest in the 1970's. The recovery of a diamond in widely spaced soil sampling, less than 5 kilometers from undrilled magnetic anomalies and on the margin of the extensive Tshabong Kimberlite field is highly significant. Securing this license is a continuation of Paragon Diamonds' strategy of applying modern-day sampling protocols to historical discoveries to correctly assess grade and diamond values, a strategy we continue to focus on in Lesotho at our flagship Lemphane Kimberlite, at the Kaplamp Lamproite Field in Zambia and now at Tsabong in Botswana."
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