NR Lucara Provides Exploration Update
VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 13, 2016) - Lucara Diamond Corp. ("Lucara" or the "Company") (TSX:LUC)(BOTSWANA:LUC)(NASDAQ OMX Stockholm:LUC), is pleased to announce successful results from the mini bulk sample program on the BK02 kimberlite located 30 kilometres east of the Karowe Mine as well as an update on additional exploration programs underway.
A total of 274.33 carats were recovered from the processing of 5,916 tonnes of BK02 for a sample grade of 4.6 cpht (carats per hundred tonne). The largest diamond recovered was a 5.48 carat brownish octahedron (see attached photo). In addition, a total of 24 stones were recovered greater than 1 carat in weight including 3 diamonds in excess of 2 carats.
Sample results confirm that the BK02 kimberlite has a coarse size distribution similar to that observed at Lucara's Karowe Mine (see attached chart). A limited drill programme is planned for BK02 to better delineate the kimberlite, define internal geology and collect material for microdiamond analyses.
The sample was collected by excavator and trucked to the Karowe Mine where processing was conducted through a 15 tonne per hour custom built Bulk Sample Plant (BSP). Final diamond recovery from DMS concentrate was completed at the BSP using conventional XRay luminescence technology. Diamonds were exported to the Lucara Sales and Sorting office in Gaborone for final cleaning and sizing.
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| Table 1. BK02 Diamond Results |
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| Kimberlite | | Weight (t) | | Total Carats | | +23DTC | | +21DTC | | +19DTC | | +17DTC | | +15DTC | | +13DTC | | +11DTC | | +9DTC | | +7DTC | | +5DTC | | +3DTC | | -3DTC |
| BK02 | | 5916 | | 274.33 | | 0 | | 5.48 | | 7.87 | | 3.565 | | 15.59 | | 25.28 | | 39.95 | | 43.46 | | 30.47 | | 57.59 | | 29.8 | | 15.27 |
Three largest diamonds recovered were 5.48ct, 2.26ct, and 2.03ct.
To view the images that accompany this press release, please visit: https://media3.marketwire.com/docs/Lucara-images-061316.pdf.
At the Karowe Mine, drilling has commenced on a 10,000 metre programme ("The Deep Drilling Programme") to test the inferred resource below 400 metres within the prolific South Lobe of the AK06 kimberlite. Results of the drill programme and other activities will be utilised in an updated resource estimation for the Karowe Mine.
William Lamb, 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 licenses 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."
At the AK12 kimberlite, surface trenching and sample collection is complete and an estimated 6,000 tonnes have been stockpiled at the BSP. Treatment of the sample is ongoing. Results will be released once the full sample has been treated. Additional gravity and magnetic data has been collected at AK11, AK13 and AK14. 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.
Lucara's diamond exploration programs are conducted under the direction of Dr. John P. Armstrong, Ph.D. P.Geo., Vice President Mineral Resources and a Qualified Person under NI 43-101. Dr. Armstrong has reviewed and approves the scientific and technical content of this press release.
On behalf of the Board,
William Lamb, President and CEO