LUCAPA Diamond Company had discovered a new source of high quality alluvial diamonds at its Lulo mine, situated in Angola.
The company said in an announcement today that it had recovered 17 ‘specials’, including an exceptional 55 carat white diamond, and a total of 1,502 carats from 11,155 bulk cubic metres processed, achieving a diamond grade of 13.5 carats per 100 cubic metres.
These recoveries were made from flood plains along the 50km stretch of the Cacuilo River valley which falls within the Lulo diamond concession. Previously, Lucapa Diamond Co. had focused on the terrace deposits along the Cacuilo River valley.
“Given the results from the flood plains adjacent to Mining Block 31, Lucapa and its partners will continue testing other flood plain areas at Lulo in parallel with alluvial mining activities in established areas,” the company said.
Lucapa said on October 25 that it had secured a R100m debt facility from South Africa’s government-owned Industrial Development Corporation. The loan will be used for the repayment of existing debt and the two-phase build of Mothae, a brownfields mining development, situated in Lesotho.
