VANCOUVER, BC, July 29, 2021 /PRNewswire/ -- (TSX: LUC) (BSE:
LUC) (Nasdaq Stockholm: LUC)
Lucara Diamond Corp. ("Lucara" or the "Company") is pleased to
announce the recovery of a 393.5 carat top white Type IIa gem
quality diamond from its 100% owned Karowe Diamond Mine located in
Botswana (image attached).
The diamond was recovered from direct milling of ore sourced from
the M/PK(S) unit of the South Lobe. During the same production
month a 156.2 carat top white gem quality diamond was also
recovered from processing of M/PK(S) material. The 393 carat
diamond is the 7th diamond greater than 300 carats to be
recovered at Karowe year to date and the third gem quality +300
carat produced from the M/PK(S) unit in 2021, along with the 341
carat (January 14, 2021) and 378
carat (January 26, 2021) top white
gems recovered in January of this year. View PDF version.
Eira Thomas, CEO commented: "Lucara is pleased to announce the
recovery of the 393 carat Type IIa white from the M/PK(S) unit of
the South Lobe, the third +300 carat white gem from the M/PK(S) in
2021. This recent recovery continues to demonstrate the strong and
consistent resource performance of the South Lobe. The 393 carat
and 156 carat diamonds add to the collection of significant diamond
recoveries in 2021, as Lucara looks to ramp up construction
activities for the proposed underground expansion 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distribution but may be superseded or qualified by subsequent news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 2:00pm
Pacific Time on July 29,
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.
For futher information: 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