VANCOUVER, Aug. 9, 2018 /CNW/ - (LUC – TSX, LUC – BSE, LUC –
Nasdaq Stockholm) Lucara Diamond Corp. ("Lucara" or the "Company")
is pleased to report that an updated independent National
Instrument 43-101 Technical Report for the Company's Karowe Mine in
Botswana has been filed today on
SEDAR (www.sedar.com). The filing of the report follows the
announcement of the updated resource estimate for Karowe in a news
release on June 26, 2018.
Please view PDF version of news release
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. 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.
ABOUT CLARA
Clara Diamond Solutions (Clara), wholly owned by Lucara Diamond
Corp, is a secure, digital sales platform that uses proprietary
analytics together with cloud and blockchain technologies to
modernize the existing diamond supply chain, driving efficiencies,
unlocking value and ensuring diamond provenance from mine to
finger.
The information in this release is accurate at the time of
distribution but may be superseded or qualified by subsequent news
releases.
This information was publicly communicated on August 9, 2018 at 2:30
p.m. Pacific Time.
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 achievements
expressed or implied by such forward-looking statements. The
Company believes that expectations reflected in these
forward-looking statements are reasonable, but no assurance can be
given that these expectations will prove to be correct and such
forward-looking statements included herein should not be unduly
relied upon. In particular, this release may contain forward
-looking statements pertaining to the following: the estimates of
the Company's mineral reserves and resources, including the
assumptions and estimates underlying such mineral reserve and
resource estimates; estimates of the Company's production
capabilities, processing capabilities, recovery rates, cash flows
and sales volumes for the Karowe Project, including the potential
effect of the development and integration of the proposed
underground mine at the Karowe Project on production, sales volumes
and the expected LOM of the Karowe Project; estimated costs to
construct the proposed Karowe Underground development at the Karowe
Project, expected start-up, exploration and development plans and
mine designs at the Karowe Project, and the timelines associated
therewith, and objectives, expected production costs, expected
exploration and development expenditures and expected reclamation
costs at the Karowe Project, including such plans, objectives and
economic estimates, including cost and expenditure estimates, used
in or arising from the PEA or in relation to the proposed Karowe
Underground project; the expected completion date of open-pit
operations at the Karowe Mine; the expected completion of an
updated mineral resource estimate and a PFS at the Karowe Project;
expected Karowe Project enhancement opportunities resulting from
the Karowe Underground PEA; expectations regarding diamond prices
and changes to foreign currency exchange rates; expectations
regarding the need to raise capital; possible impacts of disputes
or litigation and other risks and uncertainties describe under
Risks and Uncertainties disclosed in the Company's Annual
Information Form.
There can be no assurance that such statements will prove to be
accurate, as the Company's results and future events could differ
materially from those anticipated in these forward-looking
statements as a result of those factors discussed in or referred to
under the heading "Risk Factors" 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,
development and recoverability assumptions (including with respect
to the size, grade and recoverability of mineral reserves and
resources), unanticipated delays in the completion of the updated
mineral resource estimate and PFS at the Karowe Project;
unanticipated events relating to the development of the proposed
Karowe Underground project; unanticipated operational difficulties
(including the failure of plant, equipment or processes to operate
in accordance with specifications or expectations, or the failure
of the Company to effectively integrate the proposed Karowe
Underground with existing operations at the Karowe Project), 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.