Lucara Announces Updated Mineral Resource for Karowe Mine

(IDEX Online) – Lucara Diamond Corp. reports that the remaining Indicated Mineral Resource for Karowe's AK06 kimberlite includes 7.9 million carats hosted in 57.85 million tonnes (in situ and stockpile) at an average grade of 13.7 carats per hundred tonne (cpht) with an average modelled diamond value of US$ 673 per carat.

These new results will be used for mine planning and to support the preparation of current feasibility-level studies for the potential development of an underground mine, after the completion of the current open pit mine, at its Karowe Mine in Botswana.

Eira Thomas CEO, stated, "Going forward, the Karowe mine plan is dominated by South Lobe ore, with the high grade, high value EM/PK(S) unit becoming increasingly prevalent as we mine deeper.  We now understand that some of Karowe's large, high value diamonds originated from the EM/PK(S) unit including the historic 1109 carat Lesedi La Rona and the 813 carat Constellation which sold for a record US$63 million. 

“This resource update supports the continued recovery of large high value diamonds from the South Lobe throughout its remaining open pit mine life and the likelihood for underground mining until at least 2036.  Feasibility work assessing the potential for underground mining, including hydrogeological and geotechnical drilling together with several mining trade off studies is ongoing."

The Karowe Mine has been in commercial production since July 2012. The mine has produced and sold over 2 million carats from 13.9 million tonnes of processed kimberlite at an average sales price of $US 606/carat.  Karowe is firmly established as one of the world's foremost producer of large and high value diamonds.