It's a big step forward: The Australian producer of alluvial diamonds Lucapa Diamond (WKN A0M6U8 / ASX LOM) has demonstrated with gravity measurements on the most promising kimberlite its Lulo project, the kimberlite L259, a large, well-defined, kimberlitic structure. This is further evidence that it here to the original source could act all the large, exceptionally precious stones themselves, has found the Lucapa in alluvial mining in Block 8 and 6 so far!
How Lucapa announces today that gravity measurements have discovered a kimberlitic structure, which extends over a known around 110 hectares and 1.1 sq km - and also to expand beyond the borders of the exploration grid addition to the southwest appears (Figures 1 and 2 .).
Particularly significant and positive is that this is now defined kimberlitic structure the majority of mining block 8 and is next to wrapped degradation Block 6 where Lucapa and their partners will find large and valuable alluvial diamonds regularly. Overall, the company has to block 8 and 6 in the course of only a degradation year 72 "special" diamonds, ie stones weighing more than 10.8 carats, found - including a diamond of 133 carats and a 131 carat gemstone of type IIa in D-color!
Also Lucapas CEO Stephen Wetherall explained that we now dispose of a further indication that L259 primary kimberlitic source of alluvial diamonds could be on Mining Block 8 - and "may also be those who are slightly downstream found on Mining Block 6". This assumption is also borne out that the diamonds found were large and angular - which means they can not have been too far transported from the source continues -, the average size of the diamonds is high and there is a high concentration of kimberlite indicator minerals in this give area.
Mr Wetherall anyway, is extremely pleased with the latest results. Lucapa had initially performed Testaushebungen on L259, which were so positive that the kimberlite you conceded the highest priority. And these pits are within the kimberlitic structure L259, which has now been defined by the gravitational measurements!
According to Mr Wetherall seem the kimberlitic structure directly under mining block to be 8 and so far to extend over a vast area of 110 hectares. The Company believes, however, this structure to enable them to expand and will therefore extend the gravity measurements in order to fully define the limits of L259 in the southwest. In addition, later this month electromagnetic investigations to be completed, with which the modeling of the geology of these kimberlitic structure should be supportive.
Also still earlier this month is a multipurpose drilling rig, the Lucapa had bought the end of 2015, arriving in Angola. Once this is the spot, to be durgeführt at the outer edges of L259 holes with which the geology of Kimberlitstruktur to be modeled at shallow depths. In addition to possibly close to the surface occurring Kimberlitmaterial be identified, removed from the separate bulk samples that can be processed in the diamond washer to test for diamonds.
Lucapa will also perform on the L13 and L15 kimberlites gravity and EM measurements that are also near mining block. 8 Given the positive results of gravity measurements failed, but further work will have priority on L259.
It takes perhaps longer than many investors had hoped, but Lucapa come so far on the way to identify the origin of many very valuable diamonds on mining block 8 (and VLT. 6) as planned and has taken the next major hurdle successfully. Should the next steps - electromagnetic investigations and test drilling - succeed, Lucapa is significantly closer to the goal of discovering the next diamond mine in Angola.
And already the expected result in our view mean that the share significantly At length. And here Lucapa should actually find the newest diamond mine in the country, the shares would in our opinion, to advance again in very different spheres. Investors who the - undoubtedly high - risk could not be afraid, to secure a position in our opinion before the next exploration results arrive.
LOM Price at posting:
29.0¢ Sentiment: Buy Disclosure: Held
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