Posted in | Diamond | Mining Business

Lucara Recovers Third Largest Diamond Ever from Karowe Project

Lucara Diamond Corp is happy to report the recovery of a 472 carat, top light brown gem diamond, the third largest diamond ever from its 100% owned Karowe Diamond Mine situated in Botswana.

Top light brown gem diamond (Image credit: Lucara Diamond Corp)

In 2018, mining at Karowe is focused in the high-value south lobe, which consistently delivers large, high-quality diamonds in excess of 10.8 carats in size.  The 472 carat is the third largest diamond ever recovered from the mine and will be sold alongside other exceptional stones recovered since the beginning of the year as part of the first exceptional stone tender (EST) later in 2018.

Eira Thomas, CEO

Year to Date Production Highlights

  • There were 218 specials (diamonds >10.8 carats) recovered in Q1, the 3rd highest quarterly count on record including:
  • Four stones greater than 100 carats each
  • At least eight EST qualifying diamonds
  • The first regular stone tender (RST) was finished in March and will be informed as part of the Q1 results on May 8, 2018

General Corporate Update

Lucara continues to concentrate on maximizing value at Karowe, where a pre-feasibility study evaluating the prospect for going underground and spreading mine-life from 2026 to 2036 is ongoing and progressing on schedule for completion towards the end of the year.

In February 2018, Lucara also publicized the acquisition of Clara, a secure, digital, rough diamond sales platform that integrates proprietary analytics with current cloud and blockchain technologies to revolutionize the current diamond supply chain.  Commercialization work has since begun with a budget of approximately US$2 million and is tracking on schedule for execution using diamonds from Karowe, starting in August 2018.

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