Lucapa Recovers 127ct. Diamond in New Mining Area

RAPAPORT... Lucapa Diamond Company has unearthed a 127-carat rough from the newly mined floodplain area of its Lulo deposit in Angola.The company found the gem-quality diamond in mining block 24 of the leziria floodplains, an area it began mining in the fourth quarter of the year, Lucapa CEO Stephen Wetherall told Rapaport News Monday. The miner started operations at the adjoining mining block 06 the previous quarter."These floodplain areas are only accessible in the dry season," noted Wetherall. "During the rainy season from December to April, the ground conditions are generally too wet to mine. The floodplain areas have been consistent in producing large and high-value diamonds when compared to other terrace and higher-lying mining blocks. The diamond grades in the floodplain areas have [also] been better."The stone is the first over 100 carats the company has recovered from the floodplain area. However, it is the third in that category Lucapa has found at the deposit this year, and the 16th from Lulo to date."The recovery of this 127-carat stone...highlights the potential of the mining campaign planned for these previously untouched and expansive leziria areas along the Cacuilo River," Wetherall added.Image: The 127-carat rough. (Lucapa Diamond Company)