Lucapa Records Record Lulo Diamond Recovery

(IDEX Online News) – Lucapa Diamond Company has provided an update on mining production at its Lulo Diamond Project in Angola for July, which included the recovery of 59 large special diamonds.

The recovery of those 59 diamonds of more than 10.8 carats in weight, exceeded by six, the total number of specials recovered in the entire first six months of 2016. The company also recovered a record 3,164 carats, with a record diamond grade of 15 carats per 100 cubic meters. Lucapa also recorded processing volumes of 21,114 bulk cubic meters.

The company provided an exploration update, which included the commencement of a drilling program focusing on the L259 and other priority kimberlite targets around alluvial Mining Blocks 6 and 8.

During July, pitting and trenching programs were conducted on the E41 alluvial terraces, where trial mining has produced 22 special diamonds of up to 88 carats.

Lucapa sold a parcel of 1,985 carats of diamonds and achieved gross sale proceeds of AUD$2.4 million ($1.8 million) representing an average price per carat of AUD$1,211 ($905).

“The exceptional results we are seeing at Lulo, including the recovery of 59 special diamonds in a single month, show that we are in the heart of a unique large diamond province,” said Lucapa chief executive Stephen Wetherall.

“The successful commissioning of the new wet front module has also contributed to our record July results, enabling Lulo to better liberate diamonds from clay rich gravels and increase the maximum feed rate of the plant to 200 tons per hour.”