Botswana Diamonds (AIM:BOD) Access Awarded for Diamond Concession in Zimbabwe

 

Vast Resources plc awarded exclusive access for initial due diligence and Pre-Agreed Joint Venture Terms on a Community Trust Diamond Concession in the Marange Diamond Fields

Botswana Diamonds (‘BOD’) the AIM and BSE listed explorer is pleased to announce that Vast Resource plc (‘Vast’) who have signed a Memorandum of Understanding with BOD to develop diamond resources in Zimbabwe have been awarded exclusive access to a diamond concession area (the ‘Heritage Concession’) in what has become known as the Marange Diamond Fields in the Chiadzwa region of Zimbabwe.

 

 

The purpose of Vast’s agreement with a community organisation is to carry out initial due diligence on the area with a view to concluding a joint venture agreement, the principal terms of which have been agreed, for exploration, mining and marketing. The 15km² Heritage Concession is close to an area of Vast’s historic Marange Diamond Fields claim and is understood to be an extension of the same geological system.

 

John Teeling, the Chairman, commented, “I am delighted that Vast has been awarded this exclusive access to part of the famous Marange diamond fields and we look forward working with them to realise the full potential of this area and others as they begin to emerge with Zimbabwe opening for business.”

 

 

Corporate Presentation Link: www.botswanadiamonds.co.uk

 

This release has been approved by James Campbell, Managing Director of Botswana Diamonds plc, a qualified geologist (Pr.Sci.Nat), a Fellow of the South African Institute of Mining and Metallurgy, a Fellow of Materials, Metals and Mining with over 31-years’ experience in the diamond sector.

James Campbell, managing director at Botswana Diamonds (LON:BOD), talks Proactive’s Andrew Scott through their portfolio of projects and partnerships. Published on Jul 26, 2018
 

Under the agreement between BOD and Vast Resources, the two companies will exchange past exploration information on areas prospective for diamonds in Zimbabwe and form a jointly-owned special purpose vehicle to develop and exploit diamond resources. Both companies now have a Zimbabwe diamond database.

In 2008, Vast acquired a database relating to diamonds in Zimbabwe, and until 2010 conducted exploration in the field using information from the database. BOD has independently acquired a Zimbabwe diamond database. At the time of signing the MOU, Teeling said, “Zimbabwe is a country with excellent diamond potential.

Both Botswana Diamonds and Vast Resources have extensive experience in and knowledge of the country. It is opening for business and both BOD and Vast are keen to make the most of this opportunity. I look forward to providing our shareholders with further updates in due course.”

 


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