Lucara recovered of 132K Carats in 1Q

April, the largest diamond of

1,758 carat recovered

Lucara Diamond announces the results for the 1Q (quarter ended March 31, 2019) was characterized by a continuation of the strong operating performance observed during the latter half of 2018, having met or exceeded guidance with respect to all mining and processing activities including:

Carats recovered of 132,336 (including 10,899 carats recovered from re-processing historic recovery tailings from previous milling) achieving a recovered grade of 15.9 carats per hundred tonnes processed (direct milling carats)

170 Specials were recovered during the first quarter, representing 4.1% weight percentage of total recovered carats, in line with mine plan expectations; 7 diamonds were recovered greater than 100 carats in weight. In April 2019, the largest diamond to be mined at Karowe to date, an unbroken 1,758 carat near gem quality diamond was recovered.

This recovery is the largest diamond recovered in Botswana and one of the largest diamonds in recorded history, superseding the spot held by the 1,109 carat Lesedi La Rona recovered from Karowe in 2015.

Eira Thomas, President & CEO commented: “Lucara's focus on operational excellence has delivered another strong quarter, having met or exceeded guidance with respect to ore mined and processed as well as carats produced.  Costs were significantly down quarter over quarter and the first sale of the year delivered revenues in excess of US$ 47 million, in line with expectations. 

In April, Lucara's technologically advanced, XRT diamond recovery circuit delivered one of the largest diamonds in recorded history, the largest diamond recovered in Botswana, and the largest diamond to be mined at Karowe to date.  The unbroken 1,758 carat diamond is a testament to the remarkable nature of the Karowe resource and the strong operating environment prevailing at the mine.”