The Australian Lucapa Diamond Company (WKN A0M6U8 / ASX LOM) already operates two diamond mines, the Mothae kimberlite mine in Lesotho and the alluvial Lulo mine in Angola. But the company also owns 80% of an exciting exploration project called Brooking in Western Australia. There was now promising news from there.
As Lucapa and partner Leopold Diamond reported, the most recent sampling of promising targets on Brooking, the project is located in the Lamproit province of West Kimberley, was positive and yielded seven diamonds, including two macro diamonds (> 0.5 mm diameter) . In addition, a total of 72 chromites were extracted from clay and river beds, which at first glance resemble a species associated with Lamproit.
As announced at the end of October, Lucapa had initiated a further exploration program which, in addition to the aforementioned sampling, also included the taking of geochemical samples in six targets identified on Brooking.
High probability of Lamproit chimneys
Lucapa said the results of the assay suggest the occurrence of three new lamproites, with two targets having soil geochemistry similar to that of Lamproit previously discovered at Brooking. As early as 2018, Lucapa and their partners had identified Lamproit containing diamond on Brooking – and extracted more than 1,300 micro and macro diamonds with a drilling program on the Lamproit discovery Little Spring Creek.
Lamproit – like kimberlite – can contain diamonds and other related minerals and elements. The geochemical analysis indicated that a number of soil samples from Target A and B were rich in rare earth elements commonly associated with Lamproit. And those targets are also near samples from rivers that also produced diamonds and chromites. Lucapa believes that there is a high probability that Lamproit chimneys are present on each of Targets A and B. This should now be confirmed in the next exploration phase!
Samples in Area C returned diamonds and chromites over a north-northwest-south-southeast trending structure visible on satellite imagery. According to the company, this indicates the possible occurrence of a Lamproit Dam.
Lucapa and partner Leopold Diamonds want to confirm that Lamproit chimneys could occur in target areas A and B. For this purpose, future drilling locations or the locations for trenching will be planned based on the information obtained.
The company also announced that two samples of diamonds and chromites were also discovered in the D and E targets. Further exploration activities are required here to define possible targets, it said.
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In accordance with Section 34b WpHG and Section 48f Paragraph 5 BörseG (Austria), we would like to point out that partners, authors and / or employees of GOLDINVEST Consulting GmbH can hold shares in Lucapa Diamond Company and thus a conflict of interest could exist. Furthermore, we cannot rule out that other stock market letters, media or research firms will discuss the values we have discussed during the same period. Therefore, symmetrical generation of information and opinions can occur during this period. Furthermore, there is a consulting or other service contract between GOLDINVEST Consulting GmbH and a third party who is in the issuer’s warehouse (Lucapa Diamond Company), which creates a conflict of interest, especially since this third party grants GOLDINVEST Consulting GmbH a fee for reporting Lucapa Diamond Company rewarded. This third party may also hold, sell or buy shares in the issuer and would benefit from an increase in the price of Lucapa Diamond Company shares. This is another conflict of interest.
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