VANCOUVER, BC, Jan. 26, 2021 /CNW/ - (TSX: LUC) (BSE: LUC)
(Nasdaq Stockholm: LUC)
Lucara Diamond Corp. ("Lucara" or the "Company") is pleased to
announce another recovery of significance from its 100% owned
Karowe Mine. A magnificent unbroken Type IIa 378 carat gem quality
top white diamond was recently recovered from milling of ore
sourced from the M/PK(S) unit of the South Lobe (image
attached). This recovery is the 2nd +300 carat gem
quality diamond to be recovered this year from direct milling of
the M/PK(S) unit, a further testament to the strong resource and
process circuit performance at Karowe. The 378 carat and the 341
carat diamonds were recovered from the Coarse XRT circuit. Please
view PDF version
Eira Thomas, Lucara's CEO commented: "This superb 378 carat
diamond is our second +300 carat recovery so far this year, marking
a strong early start to 2021. The 378 carat joins a rare and
special lineage of exceptional, high value diamonds recovered at
Karowe and continues to highlight the wonderful diamond potential
of Botswana. Continued and
consistent recovery of large diamonds, such as the 378 carat and
341 carat stones, comes at a critical time and provides continued
strength and additional foundation to the opportunity to finance
and build the underground expansion at Karowe that will see mining
continue for at least another 13 years after the open pit ceases
operations in 2026. We look forward to a safe, productive and busy
2021."
This press release has been reviewed and approved by Dr.
John Armstrong, Ph.D. P.Geol.,
Vice-President, Technical Services of the Company and a "Qualified
Person" for the purposes of National Instrument 43-101.
Eira Thomas
President and Chief Executive Officer
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ABOUT LUCARA
Lucara is a leading independent producer of large exceptional
quality Type IIa diamonds from its 100% owned Karowe Mine in
Botswana and owns a 100% interest
in Clara Diamond Solutions, a secure, digital sales platform
positioned to modernize the existing diamond supply chain and
ensure diamond provenance from mine to finger. The Company
has an experienced board and management team with extensive diamond
development and operations expertise. The Company operates
transparently and in accordance with international best practices
in the areas of sustainability, health and safety, environment and
community relations.
The information in this release is accurate at the time of
distribution but may be superseded or qualified by subsequent news
releases.
This information is information that the Company is obliged to
make public pursuant to the EU Market Abuse Regulation. The
information was submitted for publication, through the agency of
the contact persons set out above, at 2:00pm
Pacific Time on January 26,
2021.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
Certain of the statements made and contained herein and
elsewhere constitute forward-looking statements as defined in
applicable securities laws. Generally, these forward-looking
statements can be identified by the use of forward-looking
terminology such as "expects", "anticipates", "believes",
"intends", "estimates", "potential", "possible" and similar
expressions, or statements that events, conditions or results
"will", "may", "could" or "should" occur or be achieved.
Forward-looking statements are based on the opinions and
estimates of management as of the date such statements are made and
they are subject to a number of known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievement
expressed or implied by such forward-looking statements. The
Company believes that expectations reflected in this
forward-looking information are reasonable, but no assurance can be
given that these expectations will prove to be accurate and such
forward-looking information included herein should not be unduly
relied upon. The value of the Company's shares, its financial
results and its mining activities are significantly affected by the
price and marketability of the diamonds recovered. The sales
price of a diamond is determined by its characteristics.
While the Karowe Diamond Mine has produced a number of large,
high-value diamonds in excess of 100 carats, there is no assurance
that the diamonds recovered which are 100 carats or larger will
have the characteristics required to achieve a high sales
price.
There can be no assurance that such forward looking statements
will prove to be accurate, as the Company's results and future
events could differ materially from those anticipated in this
forward-looking information as a result of those factors discussed
in or referred to under the heading "Risks and Uncertainties" in
the Company's most recent Annual Information Form available at
http://www.sedar.com, as well as changes in general business and
economic conditions, changes in interest and foreign currency
rates, the supply and demand for, deliveries of and the level and
volatility of prices of rough diamonds, costs of power and diesel,
acts of foreign governments and the outcome of legal proceedings,
inaccurate geological and recoverability assumptions (including
with respect to the size, grade and recoverability of mineral
reserves and resources), and unanticipated operational difficulties
(including failure of plant, equipment or processes to operate in
accordance with specifications or expectations, cost escalations,
unavailability of materials and equipment, government action or
delays in the receipt of government approvals, industrial
disturbances or other job actions, adverse weather conditions, and
unanticipated events relating to health safety and environmental
matters).
Accordingly, readers are cautioned not to place undue reliance
on these forward-looking statements which speak only as of the date
the statements were made, and the Company does not assume any
obligations to update or revise them to reflect new events or
circumstances, except as required by law.
SOURCE Lucara Diamond Corp.