Lucapa Diamond Company pulls up 25 carat yellow diamond from Mothae as sales rise

Lucapa Diamond Company ASX LOM 25 carat yellow Mothae
A 25 carat yellow gem recovered from the Neck Zone at Mothae, along with a 6 carat diamond.

Lucapa Diamond Company (ASX: LOM) has pulled up 25 carat yellow gem diamond from its 70%-owned Mothae mine in Lesotho during its first two days of trial processing at the project.

The yellow diamond was unearthed from the Neck zone of the Mothae kimberlite, which is not part of the current 1 million carat JORC resource.

Trial processing kicked-off after efficiency and security modifications, with 50,000 tonnes of bulk samples from the Neck, North and South East zones of the project stockpiled in readiness for processing.

As well as the 25 carat yellow diamond, trial processing has also unearthed numerous other diamonds in excess of 5 carats from the Neck zone.

Lucapa is targeting commercial production from Mothae during the second half of the year, with a 150 tonne per hour treatment plant comprising XRT large diamond recovery technology on track for completion.

Lulo diamond discoveries

The Mothae diamond find adds to recent discoveries including a 43 carat white diamond and 46 carat pink diamond from its flagship Lulo operation in Angola.

According to Lucapa, its 3,000 square kilometre Lulo project is the highest dollar per carat alluvial project in the world having given up 10 diamonds larger than 100 carats each.

The pink diamond was uncovered at the Mining Block 4, where a resource program is planned for later this year.

Brooking diamond project

In addition to Mothae and Lulo in Africa, Lucapa owns 80% of the 118sq km Brooking diamond project in Western Australia.

Earlier this year, a drill core from the Little Spring Creek prospect at Brooking returned 119 diamonds, including seven macro diamonds.

Diamond sales continue

Since the beginning of May, Lucapa has sold more than A$4 million of diamonds from Lulo and this sale did not include the 46 carat pink diamond or other large diamond from Mining Block 4.

During the March quarter, Lucapa generated US$10.8 million (A$14.24 million) in gross sales revenue from Lulo equating to about US$1,731 per carat.

The company also reported a 10% increase in its diamond production for the quarter to 4,507 carats including a 53% rise in the number of diamonds Lucapa categorises as Special.

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