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Lucapa Diamond Company Ltd.
Summary
| Project: | Lulo | |
|---|---|---|
| Deposit: | Lulo | |
| Location: | Angola | |
| Commodities: | Diamonds | |
| Date: | 3/16/2020 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 16-3-2020: Lucapa Diamond Company Ltd. announces a Resource Estimation report for its Lulo deposit at the Lulo project. Updated Mineral Resource Estimate at Lulo. Lucapa Diamond Company Limited (ASX: LOM) (“Lucapa” or “the Company”) and its partners Empre | |
| Resources: | (Resources, Inf.): 1,151,000m3 @ 8.75cphm3 for 100,700 carats contained at Lulo | |
| CP/QP: | [Resources]: Richard Price (Internal) | |
| ABSTRACT: | Lucapa Diamond Company Limited (ASX: LOM) (“Lucapa” or “the Company”) and its partners Empresa Nacional de Diamantes E.P. (“Endiama”) and Rosas & Petalas are pleased to provide an updated JORC Classified Inferred Alluvial Diamond Resource (“Lulo Diamond Resource”) for the Lulo diamond mine in Angola. The Lulo Diamond Resource was independently estimated and reconciled on a depletion and addition basis as at 31 December 2019 by external consultants, Z Star Mineral Resource Consultants (Pty) Ltd (“Z Star”) of Cape Town, South Africa, updating the previous Lulo Diamond Resource dated 31 December 2018 (Refer ASX announcement 21 March 2019) (Table 1). Notwithstanding the depletion of ~19,000 carats from alluvial mining during 2019 referred to above, in-situ resource carats increased 25% to 100,700 carats in the updated Lulo Diamond Resource. This total equates to more than five times Lulo’s production of ~19,000 carats in 2019, the fifth consecutive year of commercial alluvial production. In addition, the average US$ per carat value for Lulo diamonds modelled by Z Star in the updated Lulo Diamond Resource of US$1,620 represents a 14% increase on the previous modelled estimate of US$1,420 per carat (Table 1). Overall sales of Lulo diamonds to date total ~US$168 million at an average price per carat of ~US$1,900. | |
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