Lucapa Diamond Company Limited (ASX: LOM) ('Lucapa' or 'the Company') and its partners Project Lulo Joint Venture ('Project Lulo JV'), Endiama and Rosas & Petalas, are pleased to announce the stand-alone kimberlite bulk sample plant ('KBSP') has been fully commissioned and the processing of priority kimberlite bulk samples has commenced. Managing Director, Stephen Wetherall, commented 'A tremendous amount of exploration work has been completed by the partners on the unique large stone and high-value Lulo concession over the years and these results point to the strong potential for a special primary source discovery on the Lulo concession.
With the commissioning of the kimberlite bulk sample plant completed, the Project Lulo Joint Venture partners can now expedite kimberlite sampling to recover commercial size diamonds and to quickly assess the economic potential of a positive result.' In a statement, the Chairman of the Board of ENDIAMA E.P., Dr. Ganga Junior, said: 'It represents another crucial step by ENDIAMA and its partners in consolidating the development strategy for the diamond industry in Angola, particularly concerning primary deposits. Despite being delayed, we are convinced that this action will generate impactful results.'
The stand-alone KBSP is commissioned and has commenced processing the 15 kimberlites on the current priority bulk sampling list at Lulo. As previously reported, a number of kimberlite bulk samples have already been extracted during the KBSP construction phase and are on the feed pads awaiting treatment through the KBSP. The kimberlite bulk samples will be processed at a rate of approximately two samples every six weeks. To note, it is not expected that every kimberlite sample processed will return a positive diamond result. On a concession with such a high anomaly to kimberlite conversion rate, confirmed kimberlites will be added to the priority sampling list as concurrent discovery drilling and mineral chemistry analysis continues.
Background
The 3,000km2 Lulo concession is located in Lunde Norte, Angola. Angola is the world's fourth largest diamond producer by value and recovers diamonds from both primary and secondary source resources. The primary sources for large volumes of the secondary source alluvial diamonds mined in Angola have not yet been discovered, which makes Angola one of the most prospective jurisdictions for a primary source discovery. With strong reforms implemented by the Angolan Government in recent years and the significant strides made to attract additional foreign direct investment into the mining sector, majors such as Anglo American, De Beers and Rio Tinto have returned to explore and evaluate the underexplored resource potential of Angola. Lucapa has been actively exploring and mining in Angola for 15 years with its partners, Endiama and Rosas & Petalas, and notwithstanding the impacts and delays caused by a number of severe global events, has significantly advanced both its mining and programs in country.
Bulk sampling phase
Given the very high number of kimberlites that, in an anticipated lower grade high-value environment, would need to have large volumes of kimberlite material bulk sampled to assess commercial diamondiferous nature, a stand-alone KBSP was ordered and has now been constructed and commissioned at Lulo. 20 kimberlites have been included on the initial priority kimberlite bulk sampling list for this bulk sampling phase, with five already processed through the alluvial treatment plant. The remaining 15 kimberlites will be processed at a rate of approximately two kimberlite samples every six weeks. To note, it is not expected that every kimberlite sample processed will return a positive diamond result. On a concession with such a high anomaly to kimberlite conversion rate, it is expected that new kimberlite discoveries in priority areas will be added to the priority sampling list as concurrent discovery drilling and mineral chemistry analysis continues.
The Company looks forward to providing regular updates on the bulk sampling program.
Contact:
CANDICE SGROI
HEAD OF INVESTOR RELATIONS & CORPORATE COMMUNICATIONS
Lucapa Diamond Company Limited
Tel: 0400 49 22 85
ABOUT LUCAPA
Lucapa is an ASX listed diamond miner and explorer with assets in Africa and Australia. It has interests in two producing diamond mines in Angola (Lulo, in which LOM holds 40%) and Lesotho (Mothae, in which LOM holds 70%). The large, high-value diamonds produced from these two niche African diamond mines attract some of the highest prices per carat for rough diamonds globally. The Lulo mine has been in commercial production since 2015, while the Mothae mine commenced commercial production in 2019. In 2021, through its wholly owned subsidiary, Australian Natural Diamonds Pty Ltd, Lucapa completed the strategic and transformative acquisition of the Merlin Diamond Project, an historic Australian mine containing a 4.4 million carat JORC (2012) compliant Mineral Resource with significant exploration potential. The Company published an Updated Scoping Study re-enforcing the significant economic potential for a long-life mine at Merlin with a production target of 2.1 million carats. A feasibility study is expected to be completed by Q3 2022. Lucapa and its project partners are also exploring for potential primary source kimberlites or lamproites at the prolific Lulo concession in Angola, the Brooking project in Australia and the Orapa Area F project in Botswana. 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.
Forward-Looking Statements
This announcement has been prepared by the Company. This document contains background information about the Company and its related entities current at the date of this announcement. This is in summary form and does not purport to be all inclusive or complete. 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 announcement is for information purposes only. Neither this document nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. This announcement may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of securities laws in such jurisdiction. KIMBERLITE BULK SAMPLE PLANT OPERATIONAL Lucapa Diamond Company Limited abn 44 111 501 663 Page | 6 This document does not constitute investment advice and has been prepared without taking into account the recipient's investment objectives, financial circumstances or particular needs and the opinions and recommendations in this representation are not intended to represent recommendations of particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks, which include (among others) risks associated with mining, exploration, operations, resource, environment, funding and adverse or unanticipated market, financial, currency or political developments. No responsibility for any errors or omissions from this document arising out of negligence or otherwise is accepted. This document does include forward-looking statements. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of the Company. Actual values, results, outcomes or events may be materially different to those expressed or implied in this announcement. Given these uncertainties, recipients are cautioned not to place reliance on forwardlooking statements. Any forward-looking statements in this announcement speak only at the date of issue of this announcement. Subject to any continuing obligations under applicable law and ASX Listing Rules, the Company does not undertake any obligation to update or revise any information or any forward-looking statements in this document or any changes in events, conditions or circumstances on which any such forwardlooking statement is based
LUCAPA DIAMOND COMPANY LIMITED 
