2nd sale Lulo diamond bags strong price!
Lucapa Diamond reports further strong prices from the second sale of diamonds in 2020 from the Lulo alluvial diamond mine in Angola.
The parcel of 1,223 carats of Lulo diamonds achieved gross sales proceeds of US$1.9 million (A$2.84 million), representing an average price of US$1,535 (A$2,324) per carat. The sale brings to US$5.3 million (A$7.9m) total sales of Lulo diamonds to date in 2020 at an average price of US$1,906 (A$2,842) per carat.
The latest diamond sale comes as the Canguige catchment area within the Lulo concession becomes the focus of the Project Lulo partners’ search to discover the hard-rock sources of the high-value Lulo alluvial diamonds. As set out in the ASX announcements of 19 February 2020 and 21 February 2020, drilling of five top-rated kimberlite pipes and two other targets in the Canguige catchment has commenced after stream bulk sampling in the Canguige tributary downstream of these priority pipes and targets produced highly-encouraging diamond recovery results.
In addition to hosting a good white population – including top D-colour stones - analysis of the 45 diamonds recovered from the Canguige tributary confirmed the presence of rare Type IIa gems, along with a light fancy yellow. The Canguige tributary drains into the Cacuilo River valley ~3km upstream of alluvial Mining Block
46, which has produced multiple high-value Type IIa diamonds including Specials of up to 88 carats, along with fancy pink and yellow diamonds.
Selection of diamonds recovered from the Canguige tributary in the Lulo kimberlite exploration program Inset: Largest of the 45 diamonds recovered from the Canguige tributary, weighing 3.75 carats.
