Botswana Diamonds renews licences covering KX36 discovery

(Sharecast News) - Botswana Diamonds announced the successful renewal of its prospecting licences 224/2007 and 169/2019 on Wednesday, extending their validity until 31 December 2026. The AIM-traded firm said the renewed licences cover the KX36 kimberlite discovery and several high-grade geophysical anomalies, with drilling authorised for the promising targets.

It said KX36, a 3.5-hectare kimberlite pipe, held an indicated resource of 17.9 million tonnes at 35 carats per hundred tonnes and an inferred resource of 6.7 million tonnes at 36 carats per hundred tonnes, with an estimated value of $65 per carat.

The company said it was aiming to enhance the resource through exploration of newly-identified kimberlite targets.

At 1018 GMT, shares in Botswana Diamonds were up 4.69% at 0.17p.

Reporting by Josh White for Sharecast.com.