Miranda today announces that two additional prospecting permits for diamonds, have been granted to their subsidiary, Firefox Investments (Pty) Ltd, by the Botswana Government in terms of Section 16 of the Mines and Minerals Act of Botswana. Miranda is now in possession of three prospecting permits for diamonds in Botswana which total 1403.9 km² in size.
Both prospects lie adjacent to the Group’s current Mochudi prospect, some 80 kilometers east of Gaborone.
The new prospects cover a total area of 1022.9 km², and have been extensively explored by De Beers in the late 1960’s and as recently as 2000. A number of potential Kimberlite anomalies were identified, but at the time did not meet De Beers’ development criteria.
Management is currently reviewing all existing geological data on these properties and is planning for exploration activities to commence in the second quarter of this year.
“Our intention is to prove this prospect up and create value.” Commented Wayne Ison Thompson, Financial Director of Miranda
”Our coal assets under development in the KZN will be bolstered by this thrust into diamond exploration. Botswana is a known diamond territory and is one of Africa’s most stable economies.” |
