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Lucara Keeps Producing Big Diamonds, Credits Recovery Circuit

Kitco News

Lucara Diamond (TSX:LUC) recovered a 1,758 carat diamond from its Karowe Diamond Mine located in Botswana.

Lucara, which announced the find yesterday, says it is the largest diamond to be mined at Karowe and one of the largest diamonds in recorded history, but the quality of the diamond requires greater analysis.

“The diamond has been characterized as near gem of variable quality, including domains of high-quality white gem,” writes the company in a news release.

Lucara’s CEO, Eira Thomas, credits the company’s recovery circuit.

“Lucara’s technologically advanced, XRT diamond recovery circuit has once again delivered historic results,” says Thomas.

“Karowe has now produced two diamonds greater than 1,000 carats in just four years, affirming the coarse nature of the resource and the likelihood of recovering additional, large, high quality diamonds in the future, particularly as we mine deeper in the orebody and gain access to the geologically favorable EM/PK(S) unit, the source of both of our record breaking, +1,000 carat diamonds.”

Lucara is up seven cents, hitting $1.65 a share over the past five days. Lucara’s 52 week range is $1.38 and $2.39.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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