Prolific Lulo diamond field continues to demonstrate its prowess

Lucapa Diamond Co Ltd and its partners Empresa Nacional de Diamantes E.P. (Endiama) and Rosas & Petalas report the recovery of a 114 ct diamond from the Lulo diamond project in Angola. Recovered from alluvial Mining Block 6, this is the 11th +100 ct diamond recovered to date and the third so far in 2018, further underlining the special large-stone nature of the Lulo diamond concession.

The 114 carat diamond adds to a significant inventory of large diamonds currently held for a later sale by Lulo mining company Sociedade Mineira Do Lulo, including those shown.

Lucapa is a growing diamond company with a portfolio of high-quality production, development and exploration assets in Angola, Lesotho, Australia and Botswana. Its focus on high-value diamond production is designed to protect cash flows in a sector of the diamond market where demand remains robust.

Lulo is the flagship asset; a prolific producer of large and premium-value alluvial diamonds. Lulo has produced 11 +100ct diamonds to date and is the highest US$ per carat alluvial diamond producer in the world. Lucapa and its Lulo partners continue to advance their search for the primary kimberlite sources of these exceptional alluvial gems, with three drill rigs available in the ongoing kimberlite exploration program.

In keeping with the company’s growth strategy, Lucapa has acquired a 70% interest in the advanced Mothae kimberlite project in diamond-rich Lesotho. The Mothae kimberlite pipe is a high-quality diamond resource located within 5 km of Letšeng, the highest US$ per carat kimberlite diamond mine in the world. Lucapa is constructing a 150 t/h (90,000 t/month) diamond treatment plant, complete with XRT recovery technology, under its Phase 1 development program and is scheduled to commence high-value production at Mothae in H2 2018. A bulk sampling plant has also been refurbished and Lucapa has commenced testing areas of the kimberlite pipe either not included in the JORC resource or where additional sampling is required. Large diamonds including two yellows weighing 89 ct and 25 ct have already been recovered from these areas during bulk sampling.

Lucapa is also furthering two exploration projects in known diamond provinces. This includes an extensive exploration program launched at Brooking in the West Kimberley lamproite province in Western Australia to follow up on the discovery of lamproite with high concentrations of micro and macro diamonds. Lucapa is also scheduled to drill its kimberlite targets at the Orapa Area F project in Botswana’s Orapa diamond field in H2 2018.