An updated resource follows 15 months of mining depletion to 31 January 2017, where circa 220,000 bcm was mined and treated.
The resource has increased 10% in volume from the maiden diamond resource to 606,600 cubic metres, and includes a 54% increase in the average modelled diamond value to US$1,246 per carat.
Lucapa's partners at Lulo include Empresa Nacional de Diamantes E.P. and Rosas & Petalas.
Per carat valuation
The average modelled diamond value of US$1,246 compares with an average gross sale price of US$2,983 for Lulo diamonds in 2016, which was the highest US$ per carat diamond production in the world in 2016.
Lucapa and its Lulo partners will continue to conduct alluvial exploration activities in parallel with alluvial mining and kimberlite exploration, with a view to keeping a rolling four year inferred mine life in the alluvial Diamond Resource.