Paragon Diamonds Awarded kimberlite Dyke Prospecting Licence

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Paragon Diamonds Limited, the African-focussed diamond explorer and developer announces the award of a second kimberlite licence in Lesotho to its 85% owned subsidiary Botle Diamonds (Pty) Ltd (“Botle”). Botle is a  Lesotho exploration company incorporated on 29th November 2010, and held through Paragon’s 98.5% stake in International Diamond Consultants (IDC).
The Motete Dyke Licence consists of a 23 km² (9 km by an average 2.5 km) prospeting licence under the terms Section 22 of the Kingdom of Lesotho Mines & Minerals Act (2005) for a period of two years effective from 28th November 2011. The licence area is centred on a substantial sub-vertical kimberlite dyke or fissure system trending WNW to ESE which had not previously been identified but has recently been extensively mined at surface (the top 0.5-1.0 m) by local artisanal miners. As such, the  dyke appears to be diamondiferous although to an as-yet undetermined degree.
The kimberlite dyke has been traced continuously by company geologists over at least 1 km, and attains widths in excess of 2 m, with an average width exceeding 1 m. Furthermore, the dyke is exposed along the deeply incised walls of the Motete River, and is thus particularly accessible, with kimberlite material present at heights up to 300 m above the valley floor.
The Motete Dyke licencelies circa 10 km NE of the company’s major 6 Ha Lemphane Kimberlite Project which is currently undergoing bulk sampling.
Commenting, Paragon Chairman Luc Huyghebaert said:  “The conferring of a licence over such a substantial, continuous and accessible kimberlite dyke, with obvious apparent diamond potential presents the company with an opportunity to develop a fast-track diamond production operation, subject to determining an economic grade and value, and a viable resource. As such it is our intention to immediately commence a detailed evaluation of this kimberlite in the coming weeks and months.”
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