Freda Rebecca
 

BK16

Full name:
BK16
Mwana interest:
Mwana Africa has a 55% interest in the property.
Geology and history:
BK16 is located 40 km to the east and 12 km to the north of De Beers’ Orapa and Letlhakane diamond mines, respectively. Together with De Beers’ Jwaneng mine in Southern Botswana this region is the world’s largest diamond producer by value, accounting for 34 million carats annually. The mining costs per carat are also among the lowest in the world.
Current status and prospects:
BK16, originally modelled to be 3.5 hectares, is known to be diamondiferous. Although ground magnetometer and gravity surveys over BK16 suggested a larger orebody, drilling indicated that it would not be economic for Mwana Africa to develop BK16 on a stand-alone basis. A sale agreement with Firestone Diamonds, which has rights over the nearby BK11 property, was completed in June 2008.  Mwana currently holds 55% of BK16 and Firestone can earn up to 87.5% of BK16 for financing and carrying out all work up to the completion of a bankable feasibility study.
Geological maps: