Whiskey Tycoon Seeks Funds for Diamond Exploration
September 08, 20
(IDEX Online) - The Irish tycoon who revived his nation's whiskey industry is seeking additional funds for diamond explorations in Botswana and South Africa.
John Teeling's Botswana Diamonds is already drilling the "very promising" M8 kimberlite at Marsfontein, Limpopo, South Africa.
Last year it reported finding diamonds come from residual unprocessed stockpiles around the mine and from diamond bearing gravels. It is also working on the newly-acquired KX36 project, in Botswana.
It raised $650,000 in 2018 through a share placing and is now seeking another $400,000, it announced today.
John Teeling, former owner of the Cooley Distillery, in Ireland, said: "This is a very active and exciting time for Botswana Diamonds.
"We are drilling the very promising M8 kimberlite at Marsfontein and further drilling is likely on targets identified on the adjacent Thorny River ground.
"We have a number of active projects. The recently acquired KX36 diamond resource in the Kalahari (in Botswana) offers great potential."