London, England — MININGREVIEW.COM — 06 May 2008 – Lonrho – AIM and JSE-based pan-African company with a diverse portfolio of investments focused on Africa – says Australian-based Lonrho Mining (its 23%-owned subsidiary formerly known as Nare Diamonds) has made an extremely promising diamond discovery in Angola.
A Lonrho Mining progress report to the Australian Securities Exchange reveals that an independent geo-physical consultant’s interpretation of the company’s recently-completed 1 000 squ km airborne magnetic and radiometric survey of the Lulo diamond concession, has yielded exceptionally encouraging results.
The consultant has identified 217 magnetic anomalies of which an estimated 160 are likely to be kimberlite pipes. This cluster is located within the diamond bearing Cacuilo River catchment area on the Lulo concession. “The diamond potential of this kimberlite cluster is very high,” the consultant claims, “given the activity of an estimated 6 000 artisanal diamond miners in this area.”
The data from the survey was processed by Fugro Airborne Surveys (Pty) Ltd., and analysed by Lonrho’s independent geophysical consultant, Mr E O Kostlin.
Lonrho Mining says a drilling programme will commence this year on the six largest anomalies to confirm the presence of kimberlites. A bulk sampling programme will start this quarter on the alluvials, following completion of base camp construction.
Lonrho Mining’s consultant geologist Manfred Marx believes that the results to date from the Lulo survey are the most encouraging that he has witnessed since the discovery of the Orapa Mine in Botswana in 1967.
Lulo is located in north-eastern Angola, in an area which many experts believe will become a prolific region for the production of diamonds. The Catoca mine, which is approximately 90 km from Lulo, produced approximately 7M carats in 2007. Lulo is also adjacent to the Alto Cuilo concession – a joint venture between Petra Diamonds and BHP Billiton – where 77 kimberlite pipes have already been discovered.