VANCOUVER, BC, July 13, 2021 /CNW/ - (TSX: LUC) (BSE: LUC)
(Nasdaq Stockholm: LUC)
Lucara Diamond Corp. ("Lucara" or the "Company") is pleased to
announce the recovery of a 62.7 carat fancy pink diamond from its
100% owned Karowe Diamond Mine located in Botswana (image attached). The diamond has
been given the name "Boitumelo" meaning "Joy" in Setswana. This
impressive diamond, measuring 26x17x16mm is described as a
high-quality, fancy pink, Type IIa gem and was recovered from
direct milling of ore sourced from the EM/PK(S) unit of the South
Lobe. A superb, 22.21 carat fancy pink gem of similar quality
was also recovered during the same production period along with two
additional pink gems of similar colour and purity weighing 11.17,
and 5.05 carats (image attached). The 62.7 carat Boitumelo diamond
represents the largest fancy pink gem to be recovered in
Botswana and one of the world's
largest rough pink diamonds on record. View PDF version.
Eira Thomas, CEO commented: "Lucara is delighted to announce
another historic diamond with the recovery of the Boitumelo, and
very pleased to demonstrate the continued potential for large,
coloured diamonds from the South Lobe production. These remarkable
pink diamonds join a collection of significant diamond recoveries
in 2021 produced from the EM/PK(S) which forms a key economic
driver for the proposed underground mine at Karowe."
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distribution but may be superseded or qualified by subsequent news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, at 2:30pm
Pacific Time on July 13,
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, including
colour. While pink diamonds are relatively rare, there is no
assurance that the pink diamonds recovered from the Karowe Diamond
Mine 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.