Lucara Finds Additional Resources at Karowe

RAPAPORT… A high-value section of the Karowe mine
contains a larger supply of diamonds than originally thought, Lucara Diamond
Corp. said.



A feasibility study at the Botswana-based
asset shows a 54% increase in indicated resources in the EM/PK (S) portion of its
south lobe region, from which Lucara previously recovered the 1,109-carat
Lesedi La Rona and the 813-carat Constellation.


“In 2019 we will be
evaluating various mining scenarios that have the potential to access this
valuable ore [in EM/PK (S)] as early as possible in the underground mining
schedule,” said CEO Eira Thomas.


To reach those stones, Lucara needs to
transition from open-pit to underground mining. The company has been in talks
with the government of Botswana to extend the terms of its mining agreement to
include 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 of
directors has approved an additional $14.8 million budget to finish the
remaining portion of the study, which the miner expects to complete in the
second half of the year.


Image: The Karowe mine. (Lucara)