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Tsabong Kimberlite Field, Botswana
The Tsabong kimberlite field is located in south western Botswana, approximately 280 km south west of the Jwaneng Mine, which is the world's most profitable diamond mine, producing over $2 billion revenue and over $1.8 billion operating profit per annum. The Tsabong project extends over an area of approximately 5,000 square kilometres, and covers the entire Tsabong kimberlite field.
Tsabong is one of the largest diamondiferous kimberlite fields in the world, with 78 kimberlites discovered to date, of which 17 have been proven to be diamondiferous. Tsabong is noted for the exceptionally large size of many of its kimberlites, in particular the 180 hectare MK1 kimberlite, which is one of the largest diamondiferous kimberlites known. The Tsabong field also contains 5 kimberlites larger than 50 hectares and 30 kimberlites between 20 and 50 hectares in size.
Firestone is carrying out two parallel work programmes at Tsabong. The first is an intensive evaluation programme on the known diamondiferous kimberlites. The second is an exploration programme targeting new kimberlite discoveries.
The Tsabong evaluation programme is initially being focused on the top 10 of the known diamondiferous kimberlites. These kimberlites have been selected in conjunction with Mineral Services (Pty) Limited of Cape Town, based on diamond content, kimberlite indicator mineral ("KIM") chemistry and size. Approximately 12,000 metres of core drilling will be undertaken on these kimberlites in 2007 to obtain fresh, undiluted material for detailed microdiamond, KIM chemistry and petrographic analyses. This work will allow more accurate assessments of the economic potential of the kimberlites to be made. Bulk samples will then be taken from selected kimberlites by large diameter drilling to provide an initial indication of grade and diamond value.
In November 2006 the Company commenced a 10,000 metre exploration drilling programme at Tsabong. This programme is targeting approximately 80 well defined geophysical anomalies that have been identified by interpretation of aeromagnetic survey data over the area. Eleven kimberlites have been discovered since November 2006, bringing the total number of known kimberlites in the Tsabong project area to 78. The company expects the total number of kimberlites in the Tsabong area to reach more than 100.
With rough diamond prices estimated to have tripled since the Tsabong field was discovered in the early 1980's, the threshold for economic viability in the area has been reduced substantially. A kimberlite in Tsabong with a moderate grade of 20 cpht and average quality diamonds of $100 per carat would support a large-scale, profitable mining operation.
Access to the area is via tarred road from Gaborone and infrastructure in the area is good.
