Managing Director,
Looking at the market, the usual seasonal softness this time of year has been amplified by the global financial backdrop, with the volatility impacting demand and pricing for diamonds. Conversely, the strengthening of the US dollar has provided a partial offset to the lower prices. In the short-term, the relaxing of
ALLUVIAL MINE
(conducted by Sociedade Mineira Do Lulo, Lda ('SML' or 'Lulo') - Lucapa 40%, Endiama 32% and Rosas & Petalas 28%)
SML completed four sales of Lulo diamonds during the Quarter totalling 13,747 carats generating
Post the Quarter end, October elections in the Kingdom of
Prior to the KBSP commissioning, a sample from kimberlite L403 was processed through the alluvial plant during the Quarter. As reported, one stone of 0.08 carats was recovered from 2,505m3 of sample. Following the commissioning of the KBSP, sampling of kimberlite L032 commenced with 424 cubic metres completed by Quarter-end. Sampling results will be reported in the next quarter. Kimberlites L164, L056, and L029 are scheduled to be processed next through the KBSP. Results from 11 mineral chemistry samples were received, and an additional eight samples were submitted to the laboratory for analysis. The results will be used to prioritise additional kimberlites for bulk sampling. The exploration team also discovered two additional kimberlites during the Quarter
MERLIN KIMBERLITE EXPLORATION,
(conducted by AusND - Lucapa 100%) Interpretation of historic De Beers hyperspectral data identified seven new kimberlite targets at Merlin during the Quarter. Approximately 400 soil samples were collected over seven of the targets for spectral analysis with a heavy mineral sample taken around the centre of each target. Results of this sampling will be reported in the next quarter. The data is being integrated with existing airborne geophysics, ground geophysics, heavy mineral soil sampling and geochemical soil sampling to identify additional kimberlite targets for follow-up. Additional geophysical work is also planned for the large magnetic target ('Leviathan') on the exploration licence in 2023
Contact:
HEAD OF INVESTOR RELATIONS & CORPORATE COMMUNICATIONS
Mobile: +61 400 49 22 85
Email: csgroi@lucapa.com.au
ABOUT LUCAPA
Lucapa is an ASX listed diamond miner and explorer with assets in
Competent Person's Statement
Information included in this announcement that relates to exploration results and resource estimates is based on and fairly represents information and supporting documentation prepared and compiled by
Forward-Looking Statements
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