A failure to do so may result in a violation of securities laws in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. This announcement may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdiction. This announcement is for information purposes only. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this announcement. This is in summary form and does not purport to be all inclusive or complete. This document contains background information about the Company and its related entities current at the date of this announcement.
This announcement has been prepared by the Company. The Board, management and key stakeholders in Lucapa have deep global diamond industry experience and networks all through the value chain from exploration to retail. The mining lease contains 11 previously discovered kimberlite pipes in three kimberlite clusters with an existing 4.4 million carat JORC 2012 compliant resource. It consists of a 24km2 tenement with a mining lease and a 283km2 exploration tenement encompassing the mining lease. Lucapa has signed a binding agreement to acquire the Merlin Diamond Project in the Northern Territory of Australia. Lulo mine has been in commercial production since 2015, while Mothae commenced commercial production in 2019. The large, high-value diamonds produced from these two niche diamond mines attract some of the highest prices per carat for rough diamonds in the world. It has interests in two producing diamond mines in Angola (Lulo) and Lesotho (Mothae). Lucapa Diamond Company Limited is an ASX listed diamond miner and explorer with assets in Africa and Australia. The remaining A$7.4 million acquisition consideration payment is payable on completion of all the conditions precedent to the Merlin Asset Sale agreement. AusND has assumed the environmental security bond for Merlin (as part of the acquisition consideration) and has paid the required A$1.1 million bond to the NTG. In order to facilitate the drilling program, the existing camp was recommissioned and services such as access roads, power, water and communications have all been re-established.
This program is part of the Feasibility Study process and involves approximately 5,800m of diamond core drilling at the site.Ī Scoping Study, based on the existing 4.4 million carat JORC compliant mineral resource estimate and using open pit and vertical pit mining methods, is well advanced and is planned to be released during Q4 2021. This follows approval by the Northern Territory Government ('NTG') to appoint AusND as the operator of the site, which therefore allows AusND to commence specific approved site works prior to the completion of the Merlin acquisition.Ī Mining Management Plan has been submitted to and approved by the NTG, which includes the program for the current geotechnical drilling activities at Merlin. Lucapa Diamond Company Limited (ASX: LOM) is pleased to announce its wholly owned subsidiary, Australian Natural Diamonds Pty Ltd ('AusND'), has commenced the geotechnical drilling program at the Merlin Diamond Project ('Merlin') in the Northern Territory of Australia.
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