VANCOUVER, BC, Feb. 21,
2024 /PRNewswire/ -- (TSX: LUC) (BSE: LUC) (Nasdaq
Stockholm: LUC) Please view PDF version.
Lucara Diamond Corp. ("Lucara" or the "Company") is pleased
to announce the recovery of a 320-carat, 111-carat, and two
+50-carat stones from its 100% owned Karowe Diamond Mine located in
Botswana (image attached). These
diamonds were recovered from the direct milling of EM/PK(S)
kimberlite ore from the South Lobe during a recent production run
that saw additional recoveries of numerous, smaller +10.8 carat
diamonds of high value.
The 320-carat is a stunning, gem-quality, top light brown
diamond while the 111-carat diamond is described as a magnificent
Type IIa white stone of high quality. The two +50-carat stones add
to these recent recoveries and are also Type IIa white
diamonds. These recoveries add to the collection of significant
diamonds recovered at Karowe and further solidifies Lucara's
reputation as a leader in the recovery of large, high-quality
diamonds.
The recoveries from the EM/PK(S) unit highlight the continued
success of Lucara's mining operations at the Karowe Diamond Mine
and re-enforce the development of the underground mine which will
target >95% EM/PK(S) ore during the first three years of
underground production. The Company's adoption of advanced diamond
recovery technology has enabled the continued identification and
retrieval of these extraordinary diamonds and strong resource
performance.
William Lamb, President and CEO
of Lucara Diamond Corp., commented on the recent discoveries,
stating:
"These diamond recoveries from the EM/PK(S) domain of the South
Lobe further validate the quality and potential of the Karowe
Diamond Mine. We are thrilled with the consistent success we
continue to achieve in uncovering large, high-value diamonds,
reaffirming Lucara's position as a leading producer of large
high-quality gem diamonds. Our team's dedication to innovation and
operational excellence continues to drive our success, and we look
forward to delivering further value to our stakeholders through
these extraordinary discoveries."
Lucara Diamond Corp. remains committed to responsible and
sustainable mining practices while delivering exceptional value to
its shareholders and stakeholders.
This press release has been reviewed and approved by Dr.
John Armstrong, Ph.D. P.Geol.,
Vice-President, Technical Services of the Company and a "Qualified
Person" for the purposes of National Instrument 43-101.
On behalf of the Board,
William Lamb
President and Chief Executive Officer
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ABOUT LUCARA
Lucara is a leading independent producer of large exceptional
quality Type IIa diamonds from its 100% owned Karowe Diamond Mine
in Botswana. The Karowe Mine has
been in production since 2012 and is the focus of the Company's
operations and development activities. Clara Diamond Solutions
Limited Partnership ("Clara"), a wholly-owned subsidiary of Lucara,
has developed a secure, digital sales platform which ensures
diamond provenance from mine to finger. Lucara has an
experienced board and management team with extensive diamond
development and operations expertise. Lucara and its
subsidiaries operate transparently and in accordance with
international best practices in the areas of sustainability, health
and safety, environment, and community relations. Lucara has
adopted the IFC Performance Standards and the World Bank Group's
Environmental, Health and Safety Guidelines for Mining
(2007). Accordingly, the development of the Karowe
Underground Project adheres to the Equator Principles. Lucara is
committed to upholding high standards while striving to deliver
long-term economic benefits to Botswana and the communities in which the
Company operates.
The information is information that Lucara is obliged to make
public pursuant to the EU Market Abuse Regulation and the Swedish
Securities Markets Act. This information was submitted for
publication, through the agency of the contact person set out
above, on February 21, 2024 at
6:00 a.m. Pacific Time.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
Certain of the statements made herein contain certain
"forward-looking information" and "forward-looking statements" as
defined in applicable securities laws. Generally, any statements
that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions
or future events or performance and often (but not always) using
forward-looking terminology such as "expects", "is expected",
"anticipates", "believes", "plans", "projects", "estimates",
"budgets", "scheduled", "forecasts", "assumes", "intends",
"strategy", "goals", "objectives", "potential", "possible" or
variations thereof or stating that certain actions, events,
conditions or results "may", "could", "would", "should", "might" or
"will" be taken, occur or be achieved, or the negative of any of
these terms and similar expressions) are not statements of
historical fact and may be forward-looking statements.
In particular, forward-looking information and forward-looking
statements may include, but are not limited to, information or
statements with respect to the anticipated benefits of the Diamond
Sales Agreement, including the ability to achieve regular cash
flows and the ability to achieve better pricing than
available through tender. .
Forward-looking information and statements are based on the
opinions and estimates of management as of the date such statements
are made, and they are subject to several known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievement
expressed or implied by such forward-looking statements, including
risks related to changes in the market for diamond sales. The
Company believes that expectations reflected in this
forward-looking information are reasonable, but no assurance can be
given that these expectations will prove to be correct.
Certain risks which could impact the Company and its performance
under the Diamond Sales Agreement are discussed under the heading
"Risks and Uncertainties" in the Company's most recently filed
Interim MD&A and, in the Company's most recent Annual
Information Form available at http://www.sedar.com (the "AIF").
The foregoing is not exhaustive of the factors that may affect
any of our forward-looking statements. Forward-looking statements
are statements about the future and are inherently uncertain, and
our actual achievements or other future events or conditions may
differ materially from those reflected in the forward-looking
statements due to a variety of risks, uncertainties, and other
factors, including, without limitation, those referred to in this
news release.
Although the Company has attempted to identify important factors
that could cause actual actions, events, or results to differ
materially from those described in forward-looking statements,
there may be other factors that cause actions, events or results
not to be as anticipated, estimated or intended. The
forward-looking statements contained in this news release are based
on the beliefs, expectations, and opinions of management as of the
date of this disclosure. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers and investors
should not place undue reliance on forward-looking statements.
Forward-looking information and statements are made as of the date
of this disclosure and accordingly are subject to change after such
date. Except as required by law, the Company disclaims any
obligation to revise any forward-looking information and statements
to reflect events or circumstances after the date of such
information and statements. All forward-looking information and
statements contained or incorporated by reference in this news
release are qualified by the foregoing cautionary statements.
Vancouver: Hannah Reynish,
Investor Relations & Communications, +1 604 674 0272 |
info@lucaradiamond.com; Sweden:
Robert Eriksson, Investor Relations
& Public Relations, +46 701 112615 | reriksson@rive6.ch;
UK Public Relations Charles: Vivian / Jos Simson, Tavistock, +44 778 855 4035 |
lucara@tavistock.co.uk
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