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Tsodilo Resources hails initial results of diamond valuation for BK16 project, which shows promising stones

The average value of these parcels, which had a cumulative weight of 34.35 carats, was shown to be US$197.68 per carat

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The two parcels hail from the BK16 kimberlite large diameter drilling (LDD) samples in Botswana

Tsodilo Resources Ltd (CVE:TSD) has unveiled encouraging findings from an independent valuation of two parcels totalling 224 diamonds from its BK16 kimberlite in Botswana, which suggests the stones would be highly saleable.

The average value of these parcels, which had a cumulative weight of 34.35 carats, was shown to be US$197.68 per carat.

Dr. Michiel de Wit, president and chief operating officer at the diamond explorer, said:  "...although the first parcel was small we are encouraged by the evaluation work which gave such a high value to the diamonds.

READ: Tsodilo Resources sends two diamond parcels from BK16 to Lucara for cleaning

"We knew from the historic diamonds that the diamonds in BK16 were high quality gem stones and it is exciting to see this continuing in our LDD sample recoveries".

The two parcels hail from the BK16 kimberlite large diameter drilling (LDD) samples.

The valuation study was conducted by Mr. R. D. Ferraris of QTS Kristal Dinamika (QTS). The company said he was an independent licensed diamond dealer with more than 39 years’ experience in valuation.

Notably, several diamonds were identified by Ferraris as rare white Type IIa diamonds, which will be confirmed at a later date when a larger population of diamonds from BK16 has been secured for testing.

In the world of mined diamonds, Type IIa are  rare such that they command a 5% to 15% premium on price.

WATCH: Tsodilo Resources recovers 101 'clean colored' diamonds

The expert also noted that the population of low quality diamonds was very low compared to other Botswana kimberlites and that the diamonds from these two parcels were similar in shape, color and quality to those found at the Karreevlei kimberlite in South Africa.

Ferraris also said: "While this is a very small sample the presence of such white high color clean high-yielding shapes bodes well for the future, and while the combined sample have an average price of close to US$200 per carat.

"Further to this the BK16 goods are very attractive and would be highly saleable on the international market".

The diamondiferous BK16 kimberlite pipe is around six hectares at surface and is known to contain rare and valuable Type IIa diamonds.

It lies within the Orapa kimberlite field (OKF) area in Botswana, which last year (2017) produced 11.07mln carats.

Shares zoomed up over 16% in Toronto to stand at C$0.53.

Quick facts: Tsodilo Resources Ltd

Price: 0.065 CAD

TSX-V:TSD
Market: TSX-V
Market Cap: $2.95 m
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