Tango Mining has completed an updated National Instrument (NI) 43-101 resource for the BK11 Kimberlite diamond mine in Botswana.
Located in the Orapa kimberlite field in northern Botswana, the mine is about 10km west and 20 km southeast of De Beers’ Letlhakane and Orapa mines, respectively.
It includes 17.4 million tonnes (Mt) of inferred resource with a total of 780,820 carats.
The company said the mine features good quality white diamonds in the top 10% of worldwide gem diamond production in terms of value per carat.
The resource is based on the evaluation of 6,392m of core drilling and 1,473m of large diameter drilling.
Tango carried out feasibility studies and the resource work. The company is preparing a NI 43-101 preliminary economic assessment report.
Tango Mining executive chairman Terry Tucker said: "The completion of the resource update for BK11 is an important step in finalizing the economic study of BK11.
"The resource tonnage and grade is consistent with our initial assessment of this acquisition opportunity and the improved diamond valuation could enhance the economics of this project.
"The recently announced positive production results and recovery of exceptional stones from nearby neighboring mining operations, that implemented similar autogenous milling technology bodes well for the future performance of BK11, and provides confidence in our development and investment decision."