Lucapa Unearths a 25-ct Yellow Gem Diamond in Lesotho Mine

Lucapa Unearths a 25-ct Yellow Gem Diamond in Lesotho Mine

Lucapa Unearths a 25-ct Yellow Gem Diamond in Lesotho Mine


Australia’s Lucapa Diamond (ASX:LOM) has found a 25-carat Yellow gem diamond at its 70%-owned Mothae mine in Lesotho, adding that the rock was recovered during the 1st 2 days of trial processing at the project.

The Yellow diamond was unearthed from the Neck zone of the Mothae kimberlite, which is not part of the current 1-M carat Joint Ore Reserves Committee-compliant (JORC) resource, the company said.

Trial processing kicked-off after efficiency and security modifications, with 50,000 tonnes of bulk samples from the Neck, North and South East zones of the project stockpiled in readiness for processing.

Together with the colored stone, trial processing has also unearthed numerous other diamonds in excess of 5 carats from the Neck zone, Lucapa said.

It has been a good year for Lucapa so far, with the company fetching $1.7-M in March from selling findings from its prolific Lulo mine in Angola, which recently yielded a 46-carat Pink gem stone, the largest colored gem-quality rock ever recovered in Angola.

The Mothae project is located within 5 km of Gem Diamonds’ (LON:GEMD) Letšeng mine, the world’s highest USD per carat kimberlite diamond operation, which in January yielded a 910-carat rock. It was the 5th biggest gem-quality diamond ever found.

Have a terrific week.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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