Lucapa Diamond Company Limited  in its  update on the kimberlite exploration programme at the Lulo Diamond Project in Angola, reported that the extensive -- 8,566  km flight lines  -- Time Domain Electromagnetic (TDEM) survey it had carried out at the Lulo Diamond Project, has identified   11 new electromagnetic (EM) conductive kimberlite exploration targets. These new targets   fall  within the Cacuilo River valley area “demonstrating conductive EM signatures   with little or no discernible magnetic signatures” and  range in size of up to 150 hectares.

“The kimberlite exploration programme aims to locate the primary hard rock sources of the large and premium-value  Lulo alluvial diamonds, production from which Lulo achieved the highest per carat sale prices (US$2,983) in the world in 2016,” Lucapa explained.

Interestingly, five of the 11 new EM targets are located along drainage systems feeding into the “high-interest” Mining Block 8 area, which is considered “a prolific producer of large and premium-value alluvial diamonds”. Lucapa said  another three targets,  located near the previously-defined L165-L170 area are also of interest “due to favourable mineral chemistry results, including a micro-diamond and G10 garnets” reported earlier.

“These targets all demonstrated strongly conductive EM signatures, supporting the existence of favourable near-surface pyroclastic kimberlite (“PK”) material associated with kimberlite pipes,” Lucapa stated. “Many of these priority one targets are also located along topographical drainage systems feeding into the Mining Block 8 area and the L165-L170 area of interest to the south-east.”

The Company has said that the Lulo partners will consider allocating additional resources to the drilling programme, which has been fine-tuned on the  basis of the TDEM surveys; and that kimberlite drilling will continue at Lulo for the remainder of 2017.

“Apart from defining kimberlite targets, the TDEM survey was also used to identify shallow conductive horizons along the Cacuilo River associated with alluvial channels,” the Company stated. “These areas will be tested using the Sedidrill rig to determine the presence of potential diamond-bearing gravel.”

Lucapa also re-iterated that it  will fund the kimberlite drilling programme from the Company’s share of prorate distributions from the Lulo alluvial mining operations.