LULO DIAMOND MINING COMPANY INCORPORATED
Key approvals also secured for three-year kimberlite licence application
and kimberlite drilling program
Lucapa Diamond Company Limited (ASX: LOM) (Lucapa or the Company), Endiama E.P (Endiama),
Angolas national diamond company and private partner Rosas & Petalas (Rosas) are pleased to announce
the execution of documents to incorporate Sociedade Mineira do Lulo, Limitada (SML), the new alluvial
mining company for the Lulo Diamond Project in Angola.
Lucapa is a 40% shareholder in SML and operator of the Lulo alluvial diamond mining operations. Endiama
holds a 32% interest and Rosas 28%. SML will now hold the Lulo alluvial diamond mining licence, which was
gazetted in July 2015.
Following the formal execution of the SML incorporation documents, Lucapa has immediately committed to
a US$7 million capital development and upgrade program at Lulo, which includes new Caterpillar earth
moving equipment, vehicles for both the alluvial diamond mining and kimberlite exploration programs and
camp upgrades.
Kimberlite Drilling Update
Lucapa is also pleased to announce the application for expatriate work permits for several senior operational
roles at Lulo, including specialist drillers for the upcoming kimberlite drilling program, has received
preliminary approval.
As a result, Lucapa expects the kimberlite drilling program to commence at Lulo on the high-priority L259
kimberlite target later in the June 2016 Quarter.
While Lucapa had hoped to be in a position to commence this drilling program in April 2016 following the
arrival on site of a Landcruiser-mounted drill rig, the Company is pleased that the work permits for the
specialist drilling crew have now enabled planning to be advanced.
Kimberlite Exploration Licence
Lucapa and its partners have, at the last Lulo board meeting, formally signed-off on a new three-year
kimberlite exploration program at Lulo, which will now be submitted this week to the Angolan Ministry of
Geology and Mines.
Lucapa and its partners will continue to advance the Lulo kimberlite exploration program during the
application period, as allowed, and will advise shareholders as soon as this process is completed.
For and on behalf of the Lucapa Board.
STEPHEN WETHERALL
CHIEF EXECUTIVE OFFICER
http://www.asx.com.au/asxpdf/20160516/pdf/43782hdk6kfsxl.pdf |
