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Lucapa Diamond Company recovers high-value large diamond

Current drilling aims to find the source of these high-value diamonds.

Recently recovered 129 carat diamond
Lulo is also responsible for Angola's largest every diamond at 404 carats

Lucapa Diamond Company (ASX:LOM) has recovered a very large, high-value 129.58-carat diamond from the Lulo Diamond Project in Angola.

The 129.58-carat diamond was recovered from alluvial Mining Block 6 along with another large high-value diamond weighing 78.61 carats.

Testing has confirmed that both the 129.58-carat and 78.61-carat diamonds are premium Type IIa D-colour gems.

The latest large gem-quality diamond recoveries reinforce the Lulo diamond field’s large-stone kimberlite potential.

The 129.58-carat diamond is the eighth 100+ carat diamond recovered to date from Lulo.

Stephen Wetherall, managing director, commented

“This is the eighth 100+ carat diamond the Lulo partners have recovered to date and the seventh in just 2.5 years of commercial mining from relatively low throughout rates.

“Explosive and erosive geological forces have deposited these very rare and valuable diamonds in a relatively localised area at Lulo. These localised recoveries, and other indicators, point to the huge potential of a large stone primary kimberlite source at Lulo.

“We continue to systematically advance our efforts to locate that primary diamond source with an ongoing drilling program funded from the strong returns being generated from the Lulo alluvial mining operations.

“Having started with a list of more than 200 anomalies, the Lulo partners are now working through a list of 70 prioritised drilling targets, systematically eliminating low interest kimberlites.

“We continue to assess ways to speed up this systematic drilling and sampling program – an approach we believe provides the best opportunity to unlock Lulo’s true value.”

Current drilling aims to find the high-value diamond source

Significantly, the eight +100 carat diamonds recovered to date at Lulo have come from three different alluvial mining areas.

Mining Blocks 6, 8 and 28, spanning 6 kilometres along the Cacuilo River.

This area is the focus of the ongoing Lulo kimberlite drilling and exploration program, which aims to find the primary hard rock sources of the exceptional Lulo alluvial diamonds.

Assays from the ongoing kimberlite drill program are expected shortly.

READ NOW: Lucapa Diamond Company drills out kimberlite at multiple targets

Quick facts: Lucapa Diamond Company

Price: 0.063 AUD

Market: ASX
Market Cap: $50.76 m

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