Lucara Provides Exploration Update

Lucara Diamond (TSX:LUC) (“Lucara” or the “Company”), is pleased to announce the results of the second BK02 mini-bulk sample and provide an update on other exploration activities.

A total of 309.79 carats were recovered from the processing of 5,021 tonnes of BK02-2, for a sample grade of 6.2 cpht (carats per hundred tonne). The largest diamond recovered was a 4.56 white/grey octahedron. A total of 22 stones were recovered greater than 1 carat in weight, including 5 diamonds in excess of 2 carats in weight (inclusive of the 4.56 carat diamond).  The sample was collected from the same location as the results announced on 13 June 2015, after a drill and blast sample was taken to deepen the sample pit, followed by excavation and trucking to the Karowe Mine where processing was conducted through a 15 tonne per hour Bulk Sample Dense Media and X-ray Recovery Plant.

As quoted in the press release:

William Lamb, President and CEO, commented, “Results of the second BK02 mini bulk sample are very encouraging with the improvement in the grade and confirmation of the coarse nature of the BK02 diamond size distribution. The combined parcel of diamonds is suitable for a preliminary diamond valuation which we expect to provide to the market in the second quarter of 2017. The next stage of exploration at BK02 will be to develop an understanding of the diamond content and size distribution continuity at depth.”

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