The license renewal of the kimberlite project in Botswana enables it to be advanced to phase 2
Tsodilo Resources has secured renewal from the Botswana government of its prospecting licence that contains the company’s BK16 kimberlite project in the African country.
The renewal of Prospection License 369/2014 was granted by the Ministry of Mineral Resources, Green Technology and Energy Security (MMGE) in Gaborone.
Tsodilo Resources said that the renewal is for a period of two years that will come into effect from 1 October 2021.
Following the renewal, the Canadian exploration-stage company has commenced phase 2 evaluation of the BK16 kimberlite project.
Under the phase 2 programme, the company aims to extract 20,000 metric tonnes of kimberlite to draw 800 to 1,600 carats of diamonds.
The phase 2 programme will also be used by the company to considerably enhance the understanding of the grade of the deposit in carats per hundred tonnes (cpht).
Tsodilo Resources will use the phase 2 for further confirmation of the presence and quality of the Type IIa diamond population as well.
Among other things, the company during phase 2 will aim to further refine the accuracy of the economic fundamentals of the BK16 kimberlite project to progress towards detailed feasibility studies and eventually mining.
The project is located 13km north-northeast of the Letlhakane Diamond Mine, operated by Debswana.
The diamondiferous kimberlite pipe is contained within the Orapa Kimberlite Field (OKF) and is said to contain rare and valuable Type IIa diamonds.
Tsodilo Resources chairman and CEO James Bruchs said: “We are pleased that the MMGE has renewed the BK16 license which will allow us to move into our Phase II evaluation program which will be a surface bulk sample of 20,000 tonnes of kimberlite which will enhance the work already undertaken and increase confidence in the value of the diamonds and grade as we move closer to developing this asset.”
Earlier, the company had extracted 2,077 tonnes (callipered) of kimberlite from the BK16 kimberlite project through 14 24-inch large diameter drilling (LDD) holes, totalling 3,121m.