The drilling was focused on the project's Frischgewaagt and Hartbeesfontein farms, with the company now waiting for regulatory approvals, which are also expected this quarter.

The 1,282m drilling programme of 33 holes started in February and was aimed at enabling detailed planning for the bulk sampling programme and further definition of the kimberlite blow/fissure complex.

Combined with previous work, the company drilled a total depth of 3,299m in five areas on the two farms.

The drilling enabled Botswana to identify a bulk sampling target of 3.9km of linear kimberlite fissure intersection, with intersections of up to 18m from 4m below surface.

The drilling also identified areas hosting possible blows to form part of the bulk sampling area, which is adjacent to the area where a bulk sample was taken in early 2018.

The previous bulk sample indicated diamond values of US$120-220 per carat and grades of 46-74 carats per hundred tonnes.

The newest samples will be processed at a nearby, newly refurbished kimberlite treatment facility.

Botswana Diamonds' shares fell 3.4% Thursday after the news to 0.72p (US0.95c), with shares down 26.5% in the last six months.