Lucara Finds Additional Resources at Karowe

RAPAPORT... A high-value section of the Karowe minecontains a larger supply of diamonds than originally thought, Lucara DiamondCorp. said. A feasibility study at the Botswana-basedasset shows a 54% increase in indicated resources in the EM/PK (S) portion of itssouth lobe region, from which Lucara previously recovered the 1,109-caratLesedi La Rona and the 813-carat Constellation. "In 2019 we will beevaluating various mining scenarios that have the potential to access thisvaluable ore [in EM/PK (S)] as early as possible in the underground miningschedule," said CEO Eira Thomas. To reach those stones, Lucara needs totransition from open-pit to underground mining. The company has been in talkswith the government of Botswana to extend the terms of its mining agreement toinclude underground operations, it said. So far, Lucara has spent $23 million of the$29 million budget it set up last year for feasibility testing. Its board ofdirectors has approved an additional $14.8 million budget to finish theremaining portion of the study, which the miner expects to complete in thesecond half of the year. Image: The Karowe mine. (Lucara)