Jun 15, 2016

Lucara Reports Mini Bulk Sample Programme Results of BK02 Kimberlite

Lucara Diamond Corp reporting the results of the mini bulk sample programme on the BK02 kimberlite said that a total of 274.33 carats of diamonds were recovered from the processing of 5,916 tonnes  with  a sample grade of 4.6 cpht (carats per hundred tonne).

“The largest diamond recovered was a 5.48 carat brownish octahedron,” the Company stated. “In addition, a total of 24 stones were recovered greater than 1 carat in weight including 3 diamonds in excess of 2 carats.” Three largest diamonds recovered were 5.48ct, 2.26ct, and 2.03ct.

Lucara said that the sample results confirm that the BK02 kimberlite – which is located 30 kilometres east of the Karowe Mine - “has a coarse size distribution similar to that observed at Lucara's Karowe Mine”.

The Company announced that a limited drill programme is planned for BK02 to better delineate the kimberlite, define internal geology and collect material for microdiamond analyses.

Further, Lucara reported that a Deep Drilling Programme has been initiated at the Karowe Mine. This is a 10,000 metre programme to test the inferred resource below 400 metres within the prolific South Lobe of the AK06 kimberlite.

The results of this drilling programme, along with other parameters will be used to update the resource estimation for the Karowe Mine.

Meanwhile, an estimated 6,000 tonnes have been stockpiled as a result of the completion of surface trenching and sample collection at the AK12 kimberlite.  Currently, the sample is undergoing treatment and results are expected to be released shortly.

“Additional gravity and magnetic data has been collected at AK11, AK13 and AK14,” Lucara reported. “The Botswana Department of Environmental Affairs (DEA) has issued the necessary approvals for Lucara to proceed with additional surface sampling and drill programmes. Drill programmes at AK11, AK13, AK14 will be based on a review of the geophysical data and are planned to commence in early Q3 2016.”

William Lamb, Lucara’s President and CEO commented: "The results from the completion of the first bulk sample of the BK02 kimberlite are very encouraging and an important milestone for Lucara. The completion of this sample together with the ongoing exploration of the prospecting licences and the commencement of the deep drilling on the south lobe opens up the opportunities for Lucara to fulfil its commitment to the expansion of our resource base in the Orapa District of Botswana."

Pic Cap: The 5.48 carat brownish octahedron – the largest stone to be recovered from the mini bulk sample programme on the BK02 kimberlite

Pic Courtesy: Lucara Diamond Corp.