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Lucapa Diamond Company (ASX:LOM) - CEO, Stephen Wetherall - The Market Herald
CEO, Stephen Wetherall
Source: Miningmx
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  • Lucapa Diamond Company (LOM) has recovered seven diamonds from recent sampling work at the Brooking Diamond Exploration Project in WA
  • Additionally, 72 chromites were recovered from loam and stream sampling, which have been identified as a type that's associated with lamproites
  • Three new lamproites are believed to be present at the Brooking project and this will be further explored in upcoming programs
  • Geochemistry analysis also showed multiple soil samples were high in rare earth elements as well as others which are associated with lamproite
  • Lucapa ended the day trading down 1.82 per cent at 5.4 cents

Lucapa Diamond Company (LOM) has recovered seven diamonds from recent sampling work at the Brooking Diamond Exploration Project in WA's West Kimberley.

Lucapa owns an 80 per cent interest in the project, with the remaining 20 per cent owned by its partner, Leopold Diamond Company.

Additionally, the companies recovered 72 chromites from loam and stream sampling, which have been identified as a type associated with lamproites.

Lucapa interprets these results as indicating the presence of three new lamproites with two targets showing similar soil geochemistry to previously discovered lamproites at the Brooking project.

In 2018, Lucapa and its partners identified diamondiferous lamproite at the project, where over 1200 micro- and macro-diamonds were recovered from
a drilling program.

Not only did the sampling work uncover diamonds and chromites, a number of soil samples from target areas A and B were high in rare earth elements (REEs) and other elements that are commonly associated with lamproite.

Based on this, there'a strong chance that lamproite pipes may be present at each of these target areas but this will be confirmed in the next phase of exploration.

"These positive results from the latest work carried out together with the previous exceptional micro and macro-diamond recoveries at Brooking highlight the potential for the discovery of additional diamondiferous lamproites and reinforce our stated objective of positioning the company for continued growth in the global diamond industry," Managing Director Stephen Wetherall said.

In the upcoming phase of exploration, Lucapa will aim to confirm whether lamproite pipes could be present at each of target areas A and B, as well as better defining potential targets in areas D and E.

Lucapa ended the day trading down 1.82 per cent at 5.4 cents.

LOM by the numbers
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