Sunland Minerals, a joint venture between Botswana Diamonds and Russia’s Alrosa, is expected to commence exploration work in the first half of 2018 in Botswana.
The objective, said Botswana Diamonds, of the work was to follow-up on 15 previously identified priority geophysical targets in PL232- 235 and PL001-004 in the Central Kalahari Game Reserve.
It said ground magnetics would be used to supplement the airborne gravity and airborne magnetic data obtained in earlier work.
A soil sample programme would operate in conjunction with the magnetic surveys and the objective was to turn geophysical targets already identified into drill targets, said Botswana Diamonds.
“This phase of the work is being supervised by an exploration team from Botswana Diamonds and is fully funded,” it said.
Meanwhile, Botswana Diamonds said it had raised £500,000 following the placing of 50,000,000 new ordinary shares with new and existing investors at a price of 1p per placing share.
The net proceeds of the placing would fund ongoing diamond exploration in South Africa and Botswana, it said.