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Lucapa Diamond Company Ltd. (ASX:LOM) announced a maiden JORC resource estimate for its Angola-based Lulo diamond concession.
Lucapa Diamond Company Ltd. (ASX:LOM) announced a maiden JORC resource estimate for its Angola-based Lulo diamond concession. It excludes zones disturbed by previous artisanal mining activity “and is already depleted for mining activities and reconciled to the end of October.”
Highlights are as follows:
- Independent JORC diamond resource estimate confirms the extent and quality of the alluvial diamond deposits at Lulo
- Maiden resource estimate sufficient to support diamond mining for approximately 4 years at 20,000 bulk cubic metres per month
- First resource estimate covers less than 10% of the alluvial mining licence area
- Resource points to the potential of the Mining Block 8 and E46 alluvial diamond areas
- Multi-purpose drill rig purchased for resource extension work at Mining Block 8 and E46 in 2016
- Drill rig will also be used in priority kimberlite exploration program at L259, L13 and L15, which are considered potential kimberlite sources of exceptional diamonds being recovered from Mining Block 8
Stephen Wetherall, CEO of Lucapa, commented:
This Diamond Resource confirms the extent and quality of the alluvial diamond deposits at Lulo and also points to the high potential of the Mining Block 8 and E46 areas. We are planning further resource delineation and development activities in 2016 to extend the JORC Diamond Resource in these priority areas. Our immediate focus remains the L259/Mining Block 8 area — where alluvial mining and kimberlite activities continue — and assessing treatment options for the E46 alluvial terraces, which are located about 18km south of the 150 tonne per hour diamond processing plant.
Click here to read the full Lucapa Diamond Company Ltd. (ASX:LOM) press release.