TIDM0QUI
RNS Number : 1394B
Lucara Diamond Corp
08 June 2021
June 7, 2021
PRESS RELEASE
LUCARA RECOVERS 470 CARAT DIAMOND FROM THE KAROWE MINE IN
BOTSWANA
VANCOUVER, June 7, 2021 /CNW/ - (LUC - TSX, LUC - BSE, LUC -
Nasdaq Stockholm)
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.
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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LinkedIn
For further information, please contact:
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
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.
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END
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