Marsfontein
Round cut diamonds on black
Lucapa Diamond, the Australian miner with its main operations at the Lulo diamond project in Angola, has confirmed recovery of a high-quality 227 carat diamond.

 

 

This makes it the second largest diamond recovered to date at Lulo following the recovery of a 404-carat stone a year ago which sold for which US$16 million.

The latest diamond was recovered using Lucapa Diamond’s new XRT large diamond recovery circuit recently installed at Lulo and recovered from its new Mining Block 28. It is the seventh +100 carat diamond recovered to date at the project.

Mining Block 28 is located approximately 4 km south of Mining Block 8 and north of Mining Block 46 (the locations of previous +100 carat finds) providing further evidence that the entire ±50 km length of the Cacuilo River within the 3 000 km2 Lulo concession hosts large, valuable diamonds.

The company and its partners have sampled only 20% of this area so far.

“It is fitting that within a week of the anniversary of recovering Angola’s biggest diamond, the 404 carat (recovered on 4 February), we have now recovered Angola’s second biggest diamond on record,” says Lucapa Diamond MD, Stephen Wetherall.

“Significantly, it also reinforces the game-changing potential of the kimberlite programme we are advancing at Lulo, which will soon involve three rigs drilling multiple priority targets in the very areas where we are recovering these large premium-value diamonds,” he continues.

According to the company, testing performed on a Yehuda colorimeter has confirmed that the stone is a Type IIa, D-color gem.

While it has yet to be valued by experts it’s expected to be worth more than the cost of the new XRT large-diamond recovery circuit that uncovered it, which was just installed in the fourth quarter of 2016 and cost approximately $3.5 million.

“We look forward to the remainder of 2017 with great excitement as we continue to advance our kimberlite drilling and alluvial mining operations at Lulo, while furthering our planning for the development of the Mothae kimberlite project in Lesotho, which, like Lulo, has also produced large premium-value diamonds,” Wetherall concludes.