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Miranda receives two further Diamond prospecting permits in Botswana |
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Written by JSE SENS Department
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Wednesday, 27 February 2008 |
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.”
ENDS
ISSUED BY: FDBeachhead
Louise Brugman;
(011) 214 2415/ 083 504 1186/
This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
Senzi Dlamini
(011) 214 2420 / 073 494 0030 / senzi.dlamini@
ON BEHALF OF: Miranda Minerals
Financial Director: Wayne Ison
083 410 1344
Corporate Advisor: Qinisele Resources
Dennis Tucker
(011) 469 4613 / 082 492 4957
Notes to editors:
Miranda is a mineral exploration company that enters in to a JV agreement with a potential mining partner to conduct exploration and feasibility on a particular resource (over which Miranda typically will hold a prospecting permit) with a view to upgrading its mineral status to that of either a measured resource, or a probable or proved reserve. On completion of the exploration program, the JV partner will have the exclusive right to mine the project and Miranda will earn a "JV fee" based on an ongoing turnover/ profit percentage or rand amount per ton mined by the JV mining partner.
Miranda’s interests lie in 5 commodities, all at different exploration and mining phases. They include coal, clay, base minerals, gold and diamonds. |
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Last Updated ( Monday, 05 May 2008 )
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