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BURGUNDY DIAMOND MINES Burgundy Diamond Mines Ltd ASX : BDM ABN : 33 160 017 390 Address Level 25 , South32 Tower 108 St Georges Terrace Perth WA 6000 Australia Contact Ph : +61 8 6313 3945 www.burgundy-diamonds.com About BDM is a mineral resources company focused on diamond exploration and development . Diamonds Core strategy : Identify and acquire a portfolio of interests in incomplete evaluation programs on world class discoveries at a low entry cost , and Unlock the latent value from these projects through disciplined project level funding and technical expertise . Current Projects : Naujaat Diamond Project , Canada . Advanced exploration . Earn - in agreement . Nanuk Diamond Project , Canada . Advanced exploration . 100 % owned . Botswana , early stage diamond exploration . Alliance agreement . Ellendale Diamond Project , Western Australia . Bulk sampling and near - term production . Option agreement . Gold and Silver 18 % interest in the La Victoria Gold / Silver Project , located in the prolific North - Central Mineral Belt of Peru . Board of Directors Stephen Dennis Marc Dorion Jeremy King Michael O'Keeffe Kim Truter Peter Ravenscroft Quarterly Activities Report | March 2021 Highlights • Progressing exploration activities at existing projects : 30 April 2021 Continued preparation for bulk sampling program at the Naujaat project in Nunavut , Canada , with on - site activities scheduled to start in June 2021 and complete before year - end . ○ Drilling completed during the quarter on the first target of 15 in a 12 - month program across a number of project areas in Botswana . Option agreement signed for acquisition of 100 % of historic Ellendale Diamond Project in Western Australia : о Overview Option agreement structure of transaction minimises Burgundy's project development risk and maximises capital flexibility . The acquisition provides Burgundy with an opportunity for near - term production and cash - flow to fund wider diamond strategy . Burgundy intends a compact , modular approach to project development and will seek higher value from fancy yellow diamond product through focused branding and potential cutting and polishing in Western Australia . The Board of Burgundy Diamond Mines Ltd ( ASX : BDM ; “ Burgundy " or " the Company " ) is pleased to provide its quarterly activities and Appendix 5B cashflow report for the quarter ended 31 March 2021 ( " March quarter " ) . The March quarter saw continued activity across Burgundy's strategic objectives including exploration , both early stage and more advanced , and also further portfolio growth . Advanced stage exploration activities progressed with preparation work for the bulk sampling activities to commence at the Naujaat Project in Nunavut in the upcoming quarter . Equipment is already being mobilised and on - site activities are expected to start as planned in June 2021 , with the 1,500 to 2,000 tonne bulk sample completed by end 2021 and diamond recovery results expected in Q1 2022 . In addition , drilling was conducted on the first target of an extensive early - stage exploration program in Botswana . Results from this initial drilling did not meet expectations , but Burgundy is already progressing work on the next of the 15 targets being considered in this 12 - month program . Following substantial evaluation work on a number of potential acquisition opportunities over the last several quarters , in March 2021 an option agreement was signed for the potential 100 % acquisition of the Ellendale Diamond Project in the west Kimberley region of Western Australia . This provides Burgundy with the potential to progress to production of high - quality yellow diamonds within the two - year option period . The Ellendale Diamond Project aligns closely with Burgundy's strategy , being located in one of our target jurisdictions , being in the niche sector of fancy - coloured diamonds , and being a near - term production opportunity with the potential for cash - flow generation . Burgundy Managing Director , Mr Peter Ravenscroft , said the Company continued to successfully execute its long - term diamond strategy in the March quarter . " It is pleasing to progress exploration activity after the delays introduced by Covid - 19 during 2020. We are excited to finally be able to start the bulk sampling at Naujaat next quarter , and are optimistic that continued evaluation of our broad portfolio of projects in Botswana will start rapidly to yield positive results " , Mr Ravenscroft said . " We were also very pleased to complete the option deal on Ellendale , and look forward to starting geological and sampling activities there very soon . We believe this project is an ideal opportunity to fuel our broad strategy in the longer term . "