Diamond mining company, Lucapa Diamond Company and its partners Empresa Nacional de Diamantes have recovered an exceptionally high-value 129.58 carat diamond from the Lulo Diamond Project in Angola.
According to a statement issued by Lucapa, the diamond is the eighth diamond the Lulo partners have recovered weighing more than 100 carats, and the seventh in just 2.5 years of commercial mining from relatively low throughout rates.
“Explosive and erosive geological forces have deposited these very rare and valuable diamonds in a relatively localised area at Lulo. These localised recoveries, and other indicators, point to the huge potential of a large stone primary kimberlite source at Lulo,” said Stephen Wetherall, Managing Director, Lucapa.
Wetherall added that the latest large gem-quality diamond recoveries reinforced the extraordinary nature of the Lulo diamond field and its exciting large-stone kimberlite potential.
“Having started with a list of more than 200 anomalies, the Lulo partners are now working through a list of 70 prioritised drilling targets, systematically eliminating low interest kimberlites.
“We continue to systematically advance our efforts to locate that primary diamond source with an ongoing drilling program funded from the strong returns being generated from the Lulo alluvial mining operations.”
Significantly, the eight +100 carat diamonds recovered to date at Lulo have come from three different alluvial mining areas – Mining Blocks 6, 8 and 28 – spanning approximately 6km along the Cacuilo River.
“We continue to assess ways to speed up this systematic drilling and sampling program – an approach we believe provides the best opportunity to unlock Lulo’s true value,” concluded Wetherall.
The largest of Lulo’s +100 carat diamonds, the 404 carat discovered on 4th February Stone, produced the 163 carat flawless gem, which forms part of a magnificent jewellery piece and that will go on sale in Geneva, Switzerland, this week.
This 163 carat Lulo diamond has been described by auctioneer Christie’s as the largest D-colour flawless cut diamond ever put up for auction.