New kimberlite Pipe L14

Lucapa Diamond Company

discovers new kimberlite pipe at Lulo


Lucapa Diamond Company (ASX:LOM)
has been able to accelerate its diamond exploration program at Lulo
during the June quarter following the end of the Angolan wet season.

The first drill hole targeting the e14 anomaly has successfully intersected near-surface
and coarse kimberlite material confirming a new priority kimberlite pipe, now known as L14.
Drilling of the first hole at L14 is ongoing with kimberlite so far intersected continuously to a depth of 57 metres.

Coarse, near-surface kimberlite was also intersected at other priority targets L13, L15 and L242 during the quarter.

Stephen Wetherall, managing director, commented:
“The major objective for us is to locate the primary kimberlite source,
or sources, of the exceptional alluvial diamonds we have been recovering at Lulo.

“While it is still early days, we are already seeing very encouraging results in the coarse material and contained indicator minerals.”

L14 discovery

While the final report is pending on the recently completed helicopter-borne
time domain electromagnetic (TDEM) survey,
preliminary analysis highlighted e14 as an anomaly of interest.

As a result, the new Hanjin D&B35 rig was mobilised to this target
and the first drill hole successfully intersected near-surface and coarse kimberlite material,
now known as L14.

The L14 discovery is favourably located just 2 kilometres upstream of the Mining Block 8 area
which has been Lulo’s most prolific source of large and high-value alluvial diamonds.
Drilling is ongoing and will continue at L14 to define the shape of the kimberlite pipe
and to understand its internal geology as access permits.

Other drilling
Further drilling is also planned in the June quarter at the L15, L13 and L242 kimberlites
to follow up on the coarse, near-surface kimberlite material intersected in the first holes drilled at each of those targets.

Initial drilling is also planned at targets including e12 and G283.
The kimberlite drilling program for the remainder of 2017
will also be guided by the final interpretation and analysis of the pending TDEM data.

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