Botswana Diamonds has re-discovered eight kimberlites on the third Vutomi project in the Free State province of South Africa.
It said a detailed ground geophysical survey was currently taking place to assess the size of these kimberlites.
Chairman John Teeling said: 'The best place to find a mine is where there is or was a mine.
'The Free State area was the centre of world diamond mining over 100 years ago but has been neglected.
'New technology and new ideas offers opportunities.
'This approach is paying off for BOD with the re-discovery of 8 kimberlites.
'Now we have to see what opportunities exist for BOD. Detailed ground geophysics is currently underway, the results of which will be announced next month.'
At 9:31am: (LON:BOD) Botswana Diamonds PLC share price was +0.03p at 2.35p