British company DiamondCorp has signed an agreement with exploration company GeoPerspectives to acquire a majority stake in three diamond exploration licenses in Botswana.

The licences include nine known kimberlites in an area of 109.2km2.

To gain the 77.5% interest in the joint venture, DiamondCorp needs to complete a definitive feasibility study on developing a new diamond mine in the project area within five years.

The primary exploration target kimberlite J-01, located about 8km south-east of De Beers’ Jwaneng Mine, has an indicated size of about 9.9ha and a potential grade of 35 carats per hundred tonnes.