Mining company Botswana Diamonds (BOD) said its AI investigation of its geology database had identified previously unreported kimberlite anomalies, in what it described as a “spectacular result” for the project.
Kimberlite anomalies could contain diamonds, making their identification a key focus for mining companies. However, early stage prospecting traditionally takes months and significant investment, and often led to failure in finding anomalies.
The AI investigation applies the cutting edge technology to a massive database, accelerating advanced diamond exploration work in less time and at a cheaper cost.
“One of the seven anomalies is on ground that we already hold. Three more are on open ground, which we have applied for, and our applications have been accepted. One of these anomalies has most, if not all, of the characteristics deemed essential to be a kimberlite discovery,” said chairman John Teeling. “In addition, it is in the Jwaneng region, home to the world’s richest diamond mine producing large quantities of high value diamonds. Once the license applications are granted, we will undertake ground surveys to specify likely drill sites.”
The analysis has also identified polymetallic targets covering copper, cobalt, silver, zinc and gold.
Botswana has applied for 11 prospecting licences over open ground covering over 7,000 sq km.
The company said it had received a long-delayed mining permit for its Thorny River deposit in South Africa, a dyke system close to the mined out Klipspringer and Marsfontein mines.
Botswana identified two events that have hit the diamond industry in recent times, including the downturn in retail sales caused by a cyclical forces and the post-Covid surge in luxury sales, and the growth of lab grown diamonds. The latter is of more concern, Mr Teeling said, and would split the industry into two segments: the lab grown business, offering value for money; and the more exclusive natural market.
“Comparing a 5-carat natural with a 5 carat lab grown is like comparing a Ferrari to a Ford Mondeo. Both excellent cars but one has the aura of rarity, aspiration and fashion. The other is a good car. As more people in the world enter the middle class they aspire to a certain way of life,” he said.
Looking ahead, Mr Teeling predicted the diamond market would recover, with a shortage of natural diamonds, where Botswana would position itself.
“This is a very active and exciting time for BOD. The AI analysis has been a great success. The board are looking at ways to advance our diamond projects and the new polymetallic projects,” he said. “We know there is a rush currently on to access critical minerals, so we are well placed.”
Kimberlite anomalies could contain diamonds, making their identification a key focus for mining companies. However, early stage prospecting traditionally takes months and significant investment, and often led to failure in finding anomalies.
The AI investigation applies the cutting edge technology to a massive database, accelerating advanced diamond exploration work in less time and at a cheaper cost.
“One of the seven anomalies is on ground that we already hold. Three more are on open ground, which we have applied for, and our applications have been accepted. One of these anomalies has most, if not all, of the characteristics deemed essential to be a kimberlite discovery,” said chairman John Teeling. “In addition, it is in the Jwaneng region, home to the world’s richest diamond mine producing large quantities of high value diamonds. Once the license applications are granted, we will undertake ground surveys to specify likely drill sites.”
The analysis has also identified polymetallic targets covering copper, cobalt, silver, zinc and gold.
Botswana has applied for 11 prospecting licences over open ground covering over 7,000 sq km.
The company said it had received a long-delayed mining permit for its Thorny River deposit in South Africa, a dyke system close to the mined out Klipspringer and Marsfontein mines.
Botswana identified two events that have hit the diamond industry in recent times, including the downturn in retail sales caused by a cyclical forces and the post-Covid surge in luxury sales, and the growth of lab grown diamonds. The latter is of more concern, Mr Teeling said, and would split the industry into two segments: the lab grown business, offering value for money; and the more exclusive natural market.
“Comparing a 5-carat natural with a 5 carat lab grown is like comparing a Ferrari to a Ford Mondeo. Both excellent cars but one has the aura of rarity, aspiration and fashion. The other is a good car. As more people in the world enter the middle class they aspire to a certain way of life,” he said.
Looking ahead, Mr Teeling predicted the diamond market would recover, with a shortage of natural diamonds, where Botswana would position itself.
“This is a very active and exciting time for BOD. The AI analysis has been a great success. The board are looking at ways to advance our diamond projects and the new polymetallic projects,” he said. “We know there is a rush currently on to access critical minerals, so we are well placed.”
