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Lucapa Diamond Company Ltd.
Summary
| Project: | Mothae | |
|---|---|---|
| Deposit: | Mothae | |
| Location: | Lesotho | |
| Commodities: | Diamonds | |
| Date: | 3/24/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 24-3-2017: Lucapa Diamond Company Ltd. announces a Resource Estimation report for its Mothae deposit at the Mothae project. Initial JORC resource estimate for Mothae. Lucapa Diamond Company Limited (ASX: LOM) (“Lucapa” or “the Company”) is pleased to anno | |
| Resources: | (Resource, I+I): 38.96Mt @ 2.7cpht at project | |
| CP/QP: | [Resources]: Friedrich Johannes Reichhardt, Johannes Ferreira (MSA Group) | |
| ABSTRACT: | Lucapa Diamond Company Limited (ASX: LOM) (“Lucapa” or “the Company”) is pleased to announce a maiden JORC classified diamond resource estimate (“Diamond Resource”) for the advanced Mothae Kimberlite Diamond Project (“Mothae” or “the Project”) in Lesotho, southern Africa. As announced to the ASX on 31 January 2017, Lucapa was awarded a 70% interest in Mothae Diamonds (Pty) Ltd (“MDL”) following a competitive tender process run by the Government of the Kingdom of Lesotho, who retains a 30% interest. MDL holds the recently awarded 10 year mining licence and other assets related to Mothae. As part of the acquisition, Lucapa engaged independent consultants The MSA Group of Johannesburg, South Africa, to update and convert the existing Canadian-standard NI43-101 Mothae Resource Estimate, dated 28 February 2013, into a classified JORC 2012 estimate. In summary, the total Indicated and Inferred Mothae Diamond Resource has been estimated by MSA to be 38.96 million tonnes at a diamond grade of 2.7 carats per 100 tonnes, containing 1.04 million carats of diamonds at an average modelled revenue of US$1,063 per carat (to 300m below surface, at a 2mm bottom screen – Refer Table 1). In its report, MSA also highlighted the potential upside to its diamond revenue model, stating: “There is upside potential for the average diamond value based on the model value of large stones.” While the JORC classified Indicated and Inferred Diamond Resource of 38.96 million tonnes is calculated to a depth of 300m, MSA has modelled the Mothae kimberlite to a total depth of 500m below surface, corresponding to a total estimated 77.4 million tonnes. | |
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