In December last year, Tango revealed it was to acquire a 75% interest in the Middlepits alluvial diamond property, 470 kilometers (km) south west of Gaborone from Metswedi Mining.
The new licence hosts a kimberlite called Kolonkwaneng, which was identified by De Beers in 1977, which carried out bulk sampling, which indicated the kimberlite was diamondiferous.
Airborne geophysics has also suggested it is elliptical and is 127 metres by 226 metres in diameter.
Both the PL101 and PL58 licences are located 470 km southwest of Gaborone and 90km southwest of Tshabong in the Kgalagadi district in Botswana.
Metswedi Mining has advised Tango that is in the process of renewing PL101 and it will cover approximately 429 square kilometres (sq km).
PL58 covers a total area of 2.3 sq km and is located immediately southeast and adjacent to PL101. Closing of the transaction is subject to the renewal of the property.