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Botswana Diamonds’ Kimberlite Find Unviable
Jun 6, 2018 7:17 AM
By Rapaport News
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RAPAPORT... Botswana Diamonds will not continue exploration of the Ontevreden
pipe in South Africa, after discovering it was smaller than previously
expected, it said Wednesday.
“Modern mineral exploration technology is not a magic bullet,”
said chairman John Teeling. “Modern geophysics indicated a 0.7-hectare pipe at
Ontevreden.Our drilling confirmed a
smaller pipe, which is not currently commercial.”
Research by the University of Johannesburg showed that the site’s rock displayed characteristics typically present in high-grade
kimberlite pipes, the company said in October.
However, though further drilling of the resource confirmed it
contained kimberlite, it was not enough to make the project viable for
full-scale operation.
The miner plans to focus on two other South African projects.
Botswana Diamonds has been awarded a prospecting license for the Mooikloof
asset, adjacent to the Oaks mine — which De Beers owned, and close to another
De Beers mine —Venetia.
Mooikloof was last prospected in 1986, yet Botswana Diamonds
believes it was underestimated at the time and is still commercially viable.
The miner has also received its technical evaluation of the
Thorny River project. The results show the deposit holds between 1.2 million
and 2 million tons of kimberlite, estimated to be worth between $120 and $220
per carat.
“Significant progress has been made on our joint-venture
projects in South Africa,” Teeling said. “We are pleased to finally be awarded
the Mooikloof concession.... The pipe is historically estimated at 2.5 hectares
in size, and contains diamonds.”
The company will reassess the pipe using recently developed
exploration techniques, he explained.
“Analysis shows that a mine on the Thorny River deposit
could be profitable, assuming positive results from additional exploration,” Teeling
added.
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Tags:
Botswana Diamonds, De Beers, John Teeling, kimberlite, Mooikloof, Oaks mine, Ontevreden, Ontevreden pipe, Rapaport News, Thorny River, University of Johannesburg, venetia
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