Lucapa Diamond Co. Starts Kimberlite Drilling at Lulo in Angola

Mining and Exploration
27/06/2016 17:11

Australian miner Lucapa Diamond Company has announced the commencement of its kimberlite drilling program at its Lulo Diamond Project in Angola. The, "Drilling of high-priority kimberlite targets," says the company, aims "to identify the primary source or sources of the large, high-value alluvial diamonds being recovered from Lulo. The first target to be drilled takes aim at the hopeful source of the Angolan record 404-carat Type II D-color diamond that earned $16 million (AUD 22.5 million) in February. The program is scheduled to continue through 2016. The drilling is being conducted using a Landcruiser-mounted Sedidrill rig purchased by the Lulo partners.

Lucapa also announced it has sold another parcel of 808 carats of rough Lulo diamonds for US$880,720 at an average price of US$1,090 per carat.