Monday, October 10, 2011

Lonrho Mining achieves best diamond recovery of 31.8 carats at Lulo in Angola

Lonrho Mining (ASX:LOM) has achieved the best diamond recoveries to date, 19 diamonds ranging up to 6.2 carats, at its Lulo Project in Angola.

Meanwhile, Lonrho is evaluating funding options for a $12.7 million exploration program to follow up priority kimberlite targets at Lulo.

The diamonds were recovered from less than 60 cubic metres of alluvial gravels processed through Lonrho’s Dense Media Separation (DMS) plant for an average grade of 31.86 carats per 100 cubic metres. The average stone size was more than one carat.

Lonrho said the latest diamond grades, from BLK_06, were the best received since the company began treating diamond-bearing alluvial gravels through its DMS plant in August 2010.

This would provide further encouragement of the economic potential of the Lulo Project for Lonrho.

The best bulk sample grade received previously was 16.23 carats per 100 cubic metres.

Lonrho has excavated more than 5000 cubic metres of gravel from the BLK_06 site.

The company is continuing to process gravels from BLK_06 and will report significant results as they receive them.

It is believed that the African nation of Angola is one of the most prospective diamond exploration areas in the world and Lulo is believed to be one of the most prospective projects, at this stage of its development, in Angola.

The Lulo Diamond Concession is a highly prospective 3000 square kilometre area which Lonrho Mining intends to develop, with Endiama, the national diamond company of Angola.

Lulo is surrounded by concessions which are operated by the largest diamond companies in the world, including De Beers, Trans Hex and Alrosa.

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