Lucapa collects rewards for drilling Lulo kimberlite pipes

Diamonds from the latest Lulo sale parcel. Image: Lucapa Diamond Company

Lucapa Diamond Company has kept its sale momentum strong going into 2020 after reaping a seven-figure bill for its Lulo diamonds.

The parcel of 1223 carats of Lulo diamonds from Angola, southwestern Africa achieved gross sales proceeds of $2.84 million.

This represents an average price of $2324 per carat.

The sale brings to $7.9 million total sales of Lulo diamonds just in the first two months of this year, with an average price of $2842 per carat.

This latest sale comes as the Canguige catchment area within the Lulo concession becomes the focus of the ‘Project Lulo’ partners’ search to discover the hard rock sources of the high-value Lulo alluvial diamonds.

Drilling of five top-rated kimberlite pipes and two other targets in the catchment commenced following “highly encouraging” diamond recovery results from stream bulk sampling in the Canguige tributary downstream of priority pipes and targets.

The Canguige tributary hosts a good white population of diamonds, including top D-colour stones.

Lucapa also confirmed the presence of rare Type IIa gems, along with a light fancy yellow after analysing 45 diamonds that were recovered from the tributary.

The Canguige tributary drains into the Cacuilo River valley around three kilometres upstream of alluvial Mining Block 46.

The block has produced multiple high-value Type IIa diamonds, including Specials of up to 88 carats, along with fancy pink and yellow diamonds.

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