Business
Botswana Update
Botswana Update.
About this update from Petra Diamonds Limited
[{"type":"text","content":"\n Petra Diamonds Ld\n16 May 2007\n\n\nFor release 16 May 2007\n\n Petra Diamonds Limited\n\n Exploration Update - Botswana\n\n\nPetra Diamonds Limited ('Petra' or 'the Company'), the AIM-quoted diamond mining\ngroup, announces an update with regards to the exploration programme in\nBotswana.\n\n\nHighlights\n\n • Drilling results from the 600 metre diameter gravity negative anomaly\n (previously reported by Petra) confirm that the surface area of the\n diamondiferous kimberlite within the anomaly is likely to be significantly\n larger than previously accepted\n\n • A new kimberlite (X25) has been identified within Petra's licence areas -\n this discovery is highly significant as the area has been explored\n thoroughly by other exploration companies in the past, yet new technologies\n and methodologies employed by Petra have now led to this important discovery\n\n • Petra has acquired new prospecting licences in the Jwaneng area - these\n new licences hold two known diamondiferous kimberlites (DK4 and DK6)\n\n • 20 highly encouraging targets have been identified in Petra's Orapa North\n licence block\n\n\n\nDrilling at large gravity anomaly\n\nThe 600 metre diameter gravity negative anomaly (reported on in Petra's\nquarterly report to 31 December 2006) has now been drill-tested. Two\nstrategically placed holes (relative to the gravity anomaly) both intersected\nkimberlite beneath approximately 40 metres of Kalahari sand cover. Geophysical\nmodeling suggests the body, previously described as inconclusive (and small) in\nterms of size, is likely to be 'champagne' glass shaped with a surface area\n(interpreted from geophysics) of approximately 25 hectares. The target is also\npotentially much larger than previously believed. Material for the above two\nholes has been submitted to Petra's Helam laboratory and indicator minerals\nrecovered from the samples will be probed by an outside facility for diamond\nbearing prospectivity. This kimberlite has the potential to be a substantial\ndeposit, although the grade over the majority of it is at this time untested.\n\n\n\nKimberlite X25\n\nThe ground follow up on the 700km(2) low-level Xcalibur horizontal gradient\nmagnetic survey previously flown by Petra has resulted in the discovery of a new\nkimberlite, X25. The area in the vicinity of this kimberlite has been\nintensively expl...