Project advances Australian business Lucapa Diamond has announced that, together with its partners Endiama and Rosas & Petalas, it has developed an updated JORC Classified Inferred Alluvial Diamond Resource for the Lulo diamond concession in Angola.
“The diluted gravel (ore) volume in the updated Lulo Alluvial Resource is equivalent to eight years of production at Lulo’s planned mining and processing capacities. Extensive resource definition work since the last update involved auger drilling and trial mining in the southern mining blocks as well as gaining additional production data from the active mining blocks,” Lucapa Diamond said in a statement.
The JORC Classified Inferred Alluvial Diamond Resource increased 48 percent to 228,000 carats, according to the statement.
“Even with the increase in mining capacities over the last seven years by SML, this is the 6th consecutive year in which the resource carats have increased,” said the business.
The diamond company is listed on the Australian Securities Exchange (ASX).