Botswana Diamonds Reviewing Licenses Southwest of Orapa
February 05, 13
(IDEX Online News) – Botswana Diamonds has entered into an agreement with a private South African company that holds an 85-percent interest in 13 prospecting licenses located to the southwest of the Orapa region of Botswana.
The 6,518.40 square kilometer area contains the Ghaghoo Diamond mine, which is being developed by Gem Diamonds and the X-36 diamond discovery made by Petra Diamonds, as well as 21 known kimberlites.
According to the agreement, Botswana Diamond has a three-month exclusivity period during which it will review the available data on the licenses. If it is positive, Botswana Diamonds intends to negotiate an equity interest in the licenses.
“This agreement represents another step forward in the development of our interests and gives us access to a prospective area of Botswana, which is new to the company,” said Botswana Diamonds chairman John Teeling.
Botswana Diamonds also has a joint venture to the north/northeast of Orapa, which has applied for 12 exploration licenses.