Lucapa Begins Drilling at Lulo to Identify Primary Source of Exceptional Diamonds
June 28, 16
(IDEX Online News) – Lucapa Diamond Company announced the commencement of drilling high-priority kimberlite targets at its Lulo project, to try and identify the primary source of the exceptional alluvial diamonds being mined.
The drilling program has commenced at the L259 kimberlite target, the site of recovery of the 404-carat Type IIa D-color gem that sold for AUD$22.5 million ($16 million) in February. Drill sites have been prepared for 10 scheduled holes at L259 in the initial drilling phase.
Other proximal kimberlites scheduled to be drilled include L13, L15, E217 and L248, which are all close to alluvial Mining Blocks 8 and 6, and have been regular sources of large, premium-value special diamonds.
Lucapa also announced its most recent sale of 808 carats of Lulo alluvial diamonds. The company achieved gross sale proceeds of AUD$1.2 million ($889,000), which represents an average sale price of AUD$1,480 ($1,096) per carat.