Botswana Diamondfields progress report.VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 3, 1996-- Botswana Diamondfields Inc. is pleased to report that Phase I of a two phase geological evaluation program has commenced on schedule. A detailed ground magnetic survey over the Bellsbank kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. pipe has been completed. The results confirm the previous survey conducted by De Beers and strongly support the interpretation that a single kimberlite pipe is the causative source of the magnetic depole observed. The Bellsbank pipe has never been mined. De Beers discovered the pipe in the early 1980s, and reported the presence of two small, closely spaced kimberlite bodies overlain o·ver·lain v. Past participle of overlie. by 30 metres of overburden. Although magnetic surveys indicated the probability of there being only a single pipe, no additional drilling or exploration of the property has been pursued since then. The grade reported by De Beers from only 55 tonnes of drill chippings is 8.2 cpht although an independent review has indicated that the diamond potential, evaluated from mineral chemistry, may be as high as 30 cpht. Although the quality of diamonds has not been reported from past studies, the kimberlite is similar to those of the Bellsbank and Messina mines where about 90 percent gem quality is recovered with values in excess of US$200 per carat. A Phase II evaluation program involving the treatment of a bulk sample of the kimberlite will be implemented if a single kimberlite body is confirmed by drilling being undertaken in Phase I. Processing of the sample will be carried out in the DMS (1) (Document Management System) See document management. (2) (Defense Messaging System) An X.500-compliant messaging system developed by the U.S. Dept. of Defense. Plant to be installed at the company's Water fissure fissure /fis·sure/ (fish´er) 1. any cleft or groove, normal or otherwise, especially a deep fold in the cerebral cortex involving its entire thickness. 2. a fault in the enamel surface of a tooth. operation, with final recovery of the diamonds at the Company's Rovic Mine. Financial reserves of some C$15 million are supporting Botswana Diamondfields' evaluation of these mining prospects, acquired to complement the existing operations in South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. and exploration programs in Botswana. While the identification and acquisition of select kimberlite bodies and undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. production situations continues, the Company remains committed to intensive exploration as the only means leading to the discovery of a major diamond resource and enhancing shareholder value. The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has neither approved nor disapproved the information contained herein. CONTACT: Botswana Diamondfields Inc. John M. Darch, (604) 682-0566 (604) 662-3180 (Fax) 1-800-444-9284 INTERNET: http://www.crewgroup.com E-MAIL e-mail: see electronic mail. in full electronic mail Messages and other data exchanged between individuals using computers in a network. : info@crewgroup.com |
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