VANCOUVER, June 7, 2021 /PRNewswire/ -- (TSX:
LUC) (BSE: LUC) (Nasdaq Stockholm: LUC)
Lucara Diamond Corp. ("Lucara" or the "Company") is pleased to
announce the recovery of a 470 carat top light brown clivage
diamond from its 100% owned Karowe Diamond Mine located in
Botswana (image attached). The
diamond, measuring 49x42x26mm, was recovered from direct milling of
ore sourced from the EM/PK(S) unit of the South Lobe. The 470 carat
recovery forms a notable contribution to a series of top quality
gem and clivage quality diamond recoveries during a recent
production run, including an additional 5 diamonds greater than 100
carats (265ct, 183ct, 161ct, 116ct,
106ct) and 13 diamonds between 50 and
100 carats in weight. The May production run, dominated by EM/PK(S)
ore, produced diamonds greater than 10.8 carat in weight accounting
for 12.7% weight percent of total production, exceeding
resource expectations. Continued strong resource performance and
recovery of large diamonds reinforces the significance of the
EM/PK(S) as an important economic driver for the proposed
underground mine at Karowe. View PDF version.
The 470 carat diamond was recovered in the Coarse XRT circuit
and represents the third +300 carat diamond recovered to date in
2021. Year to date, Karowe has produced 10 diamonds greater than
100 carats including 6 diamonds greater than 200 carats, including
the 341 carat (link to press release) and 378 carat (link to press
release) top white diamonds recovered in January 2021.
Eira Thomas, CEO commented: "The benefits of a South Lobe
dominated mine-plan continue to be realized in 2021 and underpins
our confidence in the ever-improving Karowe resource as we mine
deeper in the open pit to 2026 and move into underground mining out
to at least 2040. Both main rock types from the South Lobe continue
to deliver large, high value diamonds, including 6 diamonds greater
than 200 carats in the first five months of this year alone.
Our operations remain safe, stable and strong, maintaining all
COVID-19 protocols."
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 2:15pm
Pacific Time on June 7,
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.
Investor Relations & Communications: +1 604 674 0272,
info@lucaradiamond.com; Sweden: Robert
Eriksson, Investor Relations & Public
Relations, +46 701 112615, reriksson@rive6.ch; UK
Public Relations, Charles Vivian /
Jos Simson, Tavistock, +44 79 772 97903,
lucara@tavistock.co.uk