Diamond company Lucapa reports that a large kimberlite at the Lulo diamond concession in Angola has been confirmed as a diamond-bearing pipe. The firm recovered four diamonds from its preliminary kimberlite sampling program at Se251, described by the Lulo site manager as being of “good shape, good color." The biggest of the kimberlite diamonds weighed 1.05 carats. With a surface area of approximately 220 hectares, Se251 is the largest kimberlite pipe identified by Lucapa within the 3,000 square kilometer Lulo diamond concession. Lulo is located approximately 150km from Catoca, which is the fourth largest kimberlite diamond mine in the world. Lucapa has sold 867.5 carats of alluvial diamonds recovered from the exploration phase at Lulo for gross proceeds of approximately $6 million, representing an exceptional average price of $6,960 per carat. Lucapa Managing Director Miles Kennedy said, “Se251 is, of course, only one of eight pipes Lucapa has identified proximal to where we have been recovering magnificent alluvial diamonds, and we will move on to conduct preliminary sampling of Se257 and the remaining pipes in this area to see what results emerge.”[/table][/table][/table]
LOM Price at posting:
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Jurie Maree
