HomeDiamonds & GemstonesLonrho reports encouraging results from Angola

Lonrho reports encouraging results from Angola

Exceptional 61.30 carat
fancy yellow diamond
discovered at Lonrho’s
Schmidtsdrift Mine
in South Africa
Perth, Australia — MININGREVIEW.COM — 26 January 2009 – Australian-based diamond exploration company Lonrho Mining Limited has reported highly encouraging results from its first major field-based exploration programme at the Lulo diamond concession in north-eastern Angola.

A company release issued here confirmed that field-based inspection and surface sampling of the first six of the targets derived from a high-resolution aeromagnetic/radiometric survey completed last year had returned very high levels of kimberlitic indicator minerals. One of the anomalies, K72, had been positively identified by Lonhro’s exploration team as a Group 1 kimberlite pipe.

“The high counts of indicator minerals pyrope-garnets and picro-ilmenite, combined with the presence of an indicator-rich kimberlite outcrop, have substantially upgraded the potential of the Lulo Concession to host multiple diamond-bearing kimberlite pipes,” the release emphasised. “A total of 217 magnetic anomalies possibly related to kimberlite pipes.have been identified in the field,” it added.

The new results have been reviewed by Lonhro consulting geologist Manfred Marx, and independently reviewed by highly experienced consulting geophysicist, E.O. Kostlin and experienced Australian-based diamond geologist David Jones.

They are considered to be comparable to some of the best early-stage exploration results seen in the diamond industry, including those achieved in the early stages of the world-class Oropa Diamond Mine in Botswana.

In light of these encouraging results, Lonhro is developing a comprehensive three-phase forward working programme to fast-track exploration of the Lulo Concession.

Lonrho Mining CEO Miles Kennedy commented: “While clearly early stage, these results bear all the hallmarks of first pass exploration within a substantial diamond field with genuine potential to host multiple kimberlite pipes.”We intend to fast-track exploration activities in order to test the K72 pipe and several other priority target areas with a view to confirming the diamond potential of these structures as quickly as possible.”

The Lulo Concession covers an area of 3 000 squ km on the eastern margin of the Cuango River catchment area, 650km east of Luanda in the Lunda Norte Province of north-eastern Angola.

Lonhro has signed joint venture agreements with Endiama – the national diamond company of Angola and exclusive concessionary for the Angolan diamond mining rights – to develop this highly prospective concession.