Petra Makes Botswana Kimberlite Discovery

Petra Diamonds has released results from its Angola and Botswana exploration activities, including the discovery of a new kimberlite at its Orapa-Letlhakane project in Botswana

BK 1, the kimberlite, is capped with basalt and was first intersected at a depth of approximately 40 meters, while some holes were stopped at a depth of 100 meters, still in kimberlite.

The kimberlite extends northward into the Debswana license area, and the portion in Petra’s areas could represent 20 to 30 percent of the total kimberlite. Petra has been in contact with Debswana regarding this discovery.

At the Alto Cuilo project in Angola, bulk sampling and narrow diameter drilling are delivering “exciting results,” the company said in a release. This follows Petra having taken control of the project from its joint venture partner BHP Billiton on April 1.

At Petra’s Luangue project in Angola, which it acquired from BHP in May, the firm is finding early drilling campaign success with kimberlite confirmation, and, in Botswana, Petra has discovered kimberlite BK 1 (south), which borders Debswana’s Damtshaa mining license area.

Petra noted that it has begun an intensive program at it Angola projects to test the near-surface crater rim resedimented volcaniclastic kimberlite (RVK), which Petra believes has the potential to contain substantial deposits of economic diamondiferous material.

A sample of this area yielded a large percentage of white diamonds, with initial valuations indicating “a value in excess of $200,” which Petra says is highly encouraging for such a small parcel of diamonds.

The project at Luangue will focus, like Alto Cuilo, on the potential of enriched near-surface RVK deposits.

CEO Johan Dippenaar commented, “These promising results from our programs in Angola and Botswana, where we have some of the world’s most prospective diamond exploration ground, are highly encouraging and firmly underpin Petra’s growth prospects.”