Lucapa reveals positive results from Lulo diamond project

The 172.6-carat D-colour, Type IIa diamond discovered at Lucapa Diamond's Lulo mine in 2016. Image courtesy of Lucapa Diamond Company.

Lucapa Diamond (ASX:LOM) and its partners Endiama and Rosas & Petalas reported on Wednesday positive results from the search for the hard-rock kimberlite source of the alluvial diamonds at the Lulo diamond field in Angola.

According to the company, the first stream bulk samples excavated from the Canguige tributary had resulted in the recovery of 45 diamonds weighing 30.3 ct.

"We are excited about the diamond recoveries from the Canguige stream bulk sampling and look forward to advancing the next phase of our kimberlite search within the Canguige catchment," said Lucapa Managing Director Stephen Wetherall.

"We remain confident that the primary sources of the alluvial diamonds being recovered at Lulo await discovery and that our exploration efforts will be justified."

The kimberlite exploration program along the Cacuilo River valley have achieved average run-of-mine sale prices of $1,900 per carat. Alluvial recoveries to date have included 14 +100 carat diamonds, including Angola's biggest recorded diamond weighing 404 carats.