With an approval from the Department of Environmental Affairs for the extraction of samples from the BK02 kimberlite, Vancouver-based Lucara Diamond, is upbeat the permit acquired will help maintain its industry enviable reputation of covering exceptionally large diamonds from its Karowe mine.
Spectacular diamond finds just keep coming from the Lucara’s Karowe Mine in Botswana. The latest discoveries include a 336-carat, type IIa stone as well as diamonds weighing 184 carats, 94 carats and 86 carats..Over the past three years, since the recovery of the first large diamond from the mine, Lucara has recovered 216 diamonds that have sold for more than $250,000 each.
Twelve of these diamonds sold for more than $5 million each. Lucara Diamond Corp.’s first 2015 tender of exceptional stones from the Karowe mine realized $68.71 million or $41,028 per carat (p/c). The special tender of Karowe diamonds consisted of 14 single stone lots, totaling 1,674 carats.
The highlight of the sale was a 341.9-carat Type IIa diamond that sold for $20.55 million, or $60,114 p/c. Another high value stone was a 269.7-carat diamond that sold for $16.54 million or $61,304 p/c. Twelve of the diamonds sold for more than $1 million, including five stones that were sold for in excess of $4 million.
The amazing result was hailed by the company president William Lamb as demonstrating not just the sustainable quality of the diamonds being produced, but also the robustness of the exceptional stone market.
At the time, Lucara president William Lamb was happy that “the sales values achieved for the two large stones demonstrates the quality of diamonds which the south lobe is producing.”
Lucara has also announced the recovery of a 12-carat pale pink diamond whose colour will be confirmed once it has been cleaned. The ongoing recovery of large exceptional diamonds from the Karowe mine is said to continue to support the resource estimates.
Lamb says the resource has consistently produced significant value for the company and its shareholders and the ongoing recovery of high value stones sets Lucara apart from most other diamond producers."
The Karowe Mine is based on the AK6 kimberlite pipe, which is part of the Orapa Kimberlite Field ("OKF") in Botswana. The bedrock of the region is covered by a thin veneer of wind-blown Kalahari sand and exposure is very poor. Rocks close to surface are often extensively calcretised and silcretised due to prolonged exposure on a late Tertiary erosion surface (the African Surface) which approximates to the present day land surface.â€¨
IDEX online reports that a bulk sample has been constructed and commissioned and it is expected that exploration sample processing will commence in November, with initial results to follow before the end of the year.
The sample is anticipated to be around 5,000 tons, and the contract for extraction and transport is already in place, with earth moving equipment being mobilized at the BK02 kimberlite within the next two weeks.
The company was awarded two high-potential exploration licenses in 2014, which are known to host at least three diamondiferous kimberlites – BK02, AK11 and AK12. Applications for mineral extraction from AK11 and AK12 are in progress.
Lamb is excited that the receipt of the permits is a positive step forward in the company’s resource extension campaign. “|We are excited about the prospects of these licenses based on the historical work which had previously been conducted on the property," IDEX online quotes president and CEO William Lamb
â€¨The OKF lies on the northern edge of the Central Kalahari Karoo Basin along which the Karoo succession dips very gently to the SSW and off-laps against the Precambrian rocks which occur at shallow depth within the Makgadikgadi Depression.â€¨â€¨The OKF includes at least 83 kimberlite bodies, varying in size from insignificant dykes to the 110 ha AK1 kimberlite which is Debswana's Orapa Mine. All kimberlite intrusions are of post-Karoo age.
Of the 83 known kimberlite bodies, five (AK1, BK9, DK1, DK2 and AK6 which is the Karowe Mine) have been or are currently being mined, and a further four (BK1, BK11, BK12 and BK15) are recognized as potentially economic deposits.â€¨â€¨
The country rock at the Karowe Mine is sub-outcropping flood basalt of the Stormberg Lava Group (approximately 130 m thick on the Karowe property) which is underlain by a condensed sequence of Upper Carboniferous to Triassic sedimentary rocks of the Karoo Supergroup(approximately 245 m thick on the Karowe property).
The Karoo sequence overlies granitic basement.â€¨â€¨ AK6 is a roughly north-south elongate kimberlite body with a near surface expression of ~3.3 ha and a maximum area of approximately 7 ha at ~120 m below surface. The body comprises three geologically distinct, coalescing pipes that taper with depth.
These pipes are referred to as the North Lobe, Centre Lobe, and South Lobe.â€¨â€¨ The AK6 kimberlite is an opaque-mineral-rich monticellite kimberlite, texturally classified primarily as fragmental volcaniclastic kimberlite with lesser macrocrystic hypabyssal facies kimberlite of the Group 1 variety.
The nature of the kimberlite differs between each lobe, with distinctions apparent in the textural characteristics, relative proportion of internal country-rock dilution, and degree or extent of weathering. The South Lobe is considered to be distinctly different from the North and Centre Lobes which are similar to each other in terms of their geological characteristics.
The North and Centre Lobes exhibit internal textural complexity (reflected in apparent variations in degree of fragmentation and proportions of country-rock xenoliths) whereas the bulk of the South Lobe is more massive and internally homogeneous.â€¨â€¨
The upper parts of all three lobes contain severely calcretised and silcretised rock. This zone is typically approximately 10 m in thickness, but can be up to 20 m in places. Beneath the calcrete and silcrete, the kimberlite is highly weathered.
The intensity of weathering decreases with depth with fresh kimberlite generally intersected at about 70 m to 90 m below present day surface.
A unit within the South Lobe (a variety of M/PK(S)) has been found to be hard, and to produce a very large DMS concentrate primarily as a consequence of an abundance of fresh olivine in the kimberlite update on its new exploration assets located on trend with the Company's Karowe Mine in Botswana.
The Company was awarded two high-potential exploration licences in 2014. These licences host at least three known diamondiferous kimberlites, BK02, AK11 and AK12.
This week Minister of Finance & Economic Development, Dr Thapelo Matsheka approached parliament seeking lawmakers approval of Government’s intention to increase bond program ceiling from the current P15 Billion to P30 billion.
“I stand to request this honorable house to authorize increase in bond issuance program from the current P15 billion to P30 billion,” Dr Matsheka said. He explained that due to the halt in economic growth occasioned by COVID-19 pandemic government had to revisit options for funding the national budget, particularly for the second half of the National Development Plan (NDP) 11.
Botswana Stock Exchange (BSE) has this week revealed a gloomy picture of diamond mining newcomer, Lucara, with its stock devaluated and its entire business affected by the COVID-19 pandemic.
A BSE survey for a period between 1st January to 31st August 2020 — recording the second half of the year, the third quarter of the year and five months of coronavirus in Botswana — shows that the Domestic Company Index (DCI) depreciated by 5.9 percent.
Botswana Diamond PLC, a diamond exploration company trading on both London Stock Exchange Alternative Investment Market (AIM) and Botswana Stock Exchange (BSE) on Monday unlocked value from its shares to raise capital for its ongoing exploration works in Botswana and South Africa.
A statement from the company this week reveals that the placing was with existing and new investors to raise £300,000 via the issue of 50,000,000 new ordinary shares at a placing price of 0.6p per Placing Share.
Each Placing Share, according to Botswana Diamond Executives has one warrant attached with the right to subscribe for one new ordinary share at 0.6p per new ordinary share for a period of two years from, 7th September 2020, being the date of the Placing Warrants issue.
In a statement Chairman of Botswana Diamonds, John Teeling explained that the funds raised will be used to fund ongoing exploration activities during the current year in Botswana and South Africa, and to provide additional working capital for the Company.
The company is currently drilling kimberlite M8 on the Marsfontein licence in South Africa and has generated further kimberlite targets which will be drilled on the adjacent Thorny River concession.
In Botswana, the funds will be focused on commercializing the KX36 project following the recent acquisition of Sekaka Diamonds from Petra Diamonds. This will include finalizing a work programme to upgrade the grades and diamond value of the kimberlite pipe as well as investigating innovative mining options.
Drilling is planned for the adjacent Sunland Minerals property and following further assessment of the comprehensive Sekaka database more drilling targets are likely. “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,” he said.
The company Board Chair further noted, “We have a number of active projects. The recently acquired KX36 diamond resource in the Kalahari offers great potential. While awaiting final approvals from the Botswana authorities some of the funds raised will be used to detail the works we will do to refine grade, size distribution and value per carat.”
In addition BOD said the Placing Shares will rank pari passu with the Company’s existing ordinary shares. Application will be made for the Placing Shares to be admitted to trading on AIM and it is expected that such admission will become effective on or around 23 September 2020.
Last month Botswana Diamond announced that it has entered into agreement with global miner Petra Diamonds to acquire the latter’s exploration assets in Botswana. Key to these assets, housed under Sekaka Diamonds, 100 % subsidiary of Petra is the KX36 Diamond discovery, a high grade ore Kimberlite pipe located in the CKGR, considered Botswana’s next diamond glory after the magnificent Orapa and prolific Jwaneng Mines.
The acquisition entailed two adjacent Prospecting Licences and a diamond processing plant. Sekaka has been Petra’s exploration vehicle in Botswana for year and holds three Prospecting Licenses in the Central Kalahari Game Reserve (Kalahari) PL169/2019, PL058/2007 and PL224/2007, which includes the high grade KX36 kimberlite pipe.