TIDM0QUI
RNS Number : 8155C
Lucara Diamond Corp
23 June 2021
June 22, 2021
PRESS RELEASE
LUCARA RECOVERS 1,174 CARAT DIAMOND FROM THE KAROWE MINE IN
BOTSWANA
VANCOUVER, June 22, 2021 /CNW/ - (LUC - TSX, LUC - BSE, LUC -
Nasdaq Stockholm)
Lucara Diamond Corp. ("Lucara" or the "Company") is pleased to
announce the recovery of a 1,174.76 carat diamond from its 100%
owned Karowe Diamond Mine located in Botswana (image attached). The
diamond, measuring 77x55x33mm, is described as a clivage gem of
variable quality with significant domains of high-quality white gem
material, and was recovered from direct milling of ore sourced from
the EM/PK(S) unit of the South Lobe. The 1,174 carat diamond
represents the third +1,000 carat diamond recovered from the South
Lobe of the AK6 kimberlite since 2015 including the 1,758 carat
Sewelô and 1,109 carat Lesedi La Rona.
The 1,174.76 carat diamond was recovered in the MDR (Mega
Diamond Recovery) XRT circuit. On the same production day, several
other diamonds of similar appearance (471 carat, 218 carat, 159
carat) were recovered at the main XRT circuit, indicating the 1,174
diamond was part of a larger diamond with an estimated weight of
> 2000 carats. The MDR is positioned after the primary crusher,
ahead of the autogenous mill, and is the first opportunity for
diamond recovery within the circuit.
During an 11 day production run in June of EM/PK(S), which
sourced the 1,174 carat stone, several other high quality white
gems were also recovered (148 carat, 90 carat, 88 carat, 86 carat,
67 carat, image attached). Diamonds recovered greater than 10.8
carat in weight accounted for 17.5% weight percent of total
production during this period. Excluding the 1,174 carat diamond,
the weight percent of +10.8 carat diamonds was in line with
resource expectations. Continued strong resource performance and
recovery of large diamonds reinforces the significance of the
EM/PK(S) as an important economic driver for the proposed
underground mine at Karowe.
Eira Thomas, CEO commented: "Lucara is delighted to be reporting
another historic diamond recovery and its 3(rd) diamond over 1,000
carats, a world record for Karowe. Although complex, these diamond
recoveries do contain large domains of top colour white gem that
will be transformed through our partnership with HB Antwerp into
valuable collections of top colour polished diamonds, very much in
high demand in the market today. Besides the 1,174 carat stone,
several other high quality white gems were recovered up to 148
carats in size, and year to date Karowe has produced 17 diamonds
greater than 100 carats, including 5 diamonds greater than 300
carats."
This press release has been reviewed and approved by Dr. John
Armstrong, Ph.D. P.Geol., Vice-President, Technical Services of the
Company and a "Qualified Person" for the purposes of National
Instrument 43-101.
Eira Thomas
President and Chief Executive Officer
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LinkedIn
For further information, please contact:
Investor Relations & Communications
+1 604 674 0272| info@lucaradiamond.com
Sweden Robert Eriksson, Investor Relations & Public
Relations
+46 701 112615 | reriksson@rive6.ch
UK Public Relations Charles Vivian / Jos Simson, Tavistock
+44 79 772 97903 | lucara@tavistock.co.uk
ABOUT LUCARA
Lucara is a leading independent producer of large exceptional
quality Type IIa diamonds from its 100% owned Karowe Mine in
Botswana and owns a 100% interest in Clara Diamond Solutions, a
secure, digital sales platform positioned to modernize the existing
diamond supply chain and ensure diamond provenance from mine to
finger. The Company has an experienced board and management team
with extensive diamond development and operations expertise. The
Company operates transparently and in accordance with international
best practices in the areas of sustainability, health and safety,
environment and community relations.
The information in this release is accurate at the time of
distribution but may be superseded or qualified by subsequent news
releases.
This information is information that the Company is obliged to
make public pursuant to the EU Market Abuse Regulation. The
information was submitted for publication, through the agency of
the contact persons set out above, at 2:15pm Pacific Time on June
22, 2021.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
Certain of the statements made and contained herein and
elsewhere constitute forward-looking statements as defined in
applicable securities laws. Generally, these forward-looking
statements can be identified by the use of forward-looking
terminology such as "expects", "anticipates", "believes",
"intends", "estimates", "potential", "possible" and similar
expressions, or statements that events, conditions or results
"will", "may", "could" or "should" occur or be achieved.
Forward-looking statements are based on the opinions and
estimates of management as of the date such statements are made and
they are subject to a number of known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievement
expressed or implied by such forward-looking statements. The
Company believes that expectations reflected in this
forward-looking information are reasonable, but no assurance can be
given that these expectations will prove to be accurate and such
forward-looking information included herein should not be unduly
relied upon. The value of the Company's shares, its financial
results and its mining activities are significantly affected by the
price and marketability of the diamonds recovered. The sales price
of a diamond is determined by its characteristics. While the Karowe
Diamond Mine has produced a number of large, high-value diamonds in
excess of 100 carats, there is no assurance that the diamonds
recovered which are 100 carats or larger will have the
characteristics required to achieve a high sales price.
There can be no assurance that such forward looking statements
will prove to be accurate, as the Company's results and future
events could differ materially from those anticipated in this
forward-looking information as a result of those factors discussed
in or referred to under the heading "Risks and Uncertainties" in
the Company's most recent Annual Information Form available at
http://www.sedar.com, as well as changes in general business and
economic conditions, changes in interest and foreign currency
rates, the supply and demand for, deliveries of and the level and
volatility of prices of rough diamonds, costs of power and diesel,
acts of foreign governments and the outcome of legal proceedings,
inaccurate geological and recoverability assumptions (including
with respect to the size, grade and recoverability of mineral
reserves and resources), and unanticipated operational difficulties
(including failure of plant, equipment or processes to operate in
accordance with specifications or expectations, cost escalations,
unavailability of materials and equipment, government action or
delays in the receipt of government approvals, industrial
disturbances or other job actions, adverse weather conditions, and
unanticipated events relating to health safety and environmental
matters).
Accordingly, readers are cautioned not to place undue reliance
on these forward-looking statements which speak only as of the date
the statements were made, and the Company does not assume any
obligations to update or revise them to reflect new events or
circumstances, except as required by law.
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END
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