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Lucapa Diamond Company continues to sell Lulo diamonds for high prices

Gross proceeds from Lulo diamond sales to date in 2017 is US$31.6 million.
Lulo diamonds from the latest sale parcel
Lulo diamonds from the latest sale parcel

Lucapa Diamond Company Ltd (ASX:LOM) has completed another sale of 4,126 carats of Lulo diamonds, achieving gross proceeds of US$7.3 million.

The eighth sale for 2017 of alluvial diamonds from the Lulo Diamond Project in Angola fetched an average price per carat of US$1,770 (A$2,332).

Importantly, the latest sale brought gross proceeds from Lulo diamond sales to date in 2017 to US$31.6 million at an average price per carat of US$1,668.

The next sale of Lulo diamonds will include two D-colour gems recovered from Mining Block 6. This sale will take place in either December 2017 or early in 2018.

READ NOW: Lucapa Diamond Company recovers high-value large diamond

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.

Mining Blocks 6, 8 and 28 spans 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.

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