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- This website may include forward-looking statements. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Lucapa Diamond Company Limited. Actual values, results or events may be materially different to those express or implied in this website. Given these uncertainties, recipients are cautioned not to place reliance on forward-looking statements. Any forward-looking statements in this website speak only at the date of issue of this website. Subject to any continuing obligations under applicable law and ASX Listing Rules, Lucapa Diamond Company Limited does not undertake any obligation to update or revise any information or any of the forward-looking statements in this website or any changes in events, conditions or circumstances on which any such forward-looking statement is based
Competent Person’s Statement
Information in this website that relates to exploration targets, exploration results, mineral resources or ore reserves is based on and fairly represents information and supporting documentation prepared and compiled by Albert Thamm who is a Corporate Member of the Australasian Institute of Mining and Metallurgy. Mr Thamm is a Director of Lucapa Diamond Company Limited. Mr Thamm has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves. Mr Thamm consents to the inclusion in this website of the matters based on this information in the form and context in which it appears. The information contained in this website in relation to the alluvial area containing an estimated 500,000 carats (Exploration Target) is based upon exploration potential rather than an estimate of production. The material assumptions underpinning the Exploration Target were previously disclosed in the ASX announcement dated 5 March 2014. These assumptions continue to apply and have not materially changed and are listed below;
- The potential quantity, grade and diamond value described as the Exploration Target are conceptual in nature and there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource;
- The range of tonnage is based upon an estimated volume of about five million cubic metres which relates only to the elevated terrace gravels. No attempt has been made to determine the volume of lower grade lateritic gravels that will occur within the flood plain of the Cacuilo River. It is believed that five million cubic metres is probably a minimum volume and the actual combined volume of terrace and lateritic gravels within the proposed MLA could be double this figure;
- The range of grade to the plant will vary considerably, however it is estimated to be in the range of 5cphm to 15cphm, with 10cphm considered the most likely scenario;
- The average diamond value is based upon data available as at 5 March 2014 in relation to the sale of the first package of diamonds and valuation of the second package of diamonds, with a total weight of 867.05ct for a total of $US6,029,614 giving an average price of $US6,954/ct (See ASX announcement 3 March 2014). Most of the value in the two diamond parcels related to “special” stones, that is, diamonds larger than 10.8 ct or fancy coloured stones. If the special diamonds are not included in the packages, the average value of the remaining diamonds is $US465/ct. This provides a range of $US465/ct and $US6,954/ct. An average per carat value of $US500 has been attributed to the diamonds for the Exploration Target model. This is probably on the low side as work to date suggests that special stones are a normal part of the Lulo production. The range of values in the Exploration Target is as per the table included in the slide titled “Alluvial Mining – The Exploration Model”;
- The proposed exploration activities designed to test the validity of the Exploration Target are estimated to be completed within a 12-18 month timeframe. The extent of the exploration program required will be continually re-evaluated to ensure that it is relevant to local conditions. In general, exploration pitting will be completed on lines 200-400m apart with pits every 25m to 50m. One or two bulk samples of 200 to 500 tonnes will be excavated for each kilometre of channel length identified.
- The geophysical information included in this website relates to previously released exploration data disclosed under the JORC Code 2004 (refer ASX announcements dated 1 May 2013 and 22 May 2013). It has not been updated to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported and is based on and fairly represents information and supporting documentation prepared and compiled by Albert Thamm MSc F.Aus.IMM (CP), who is a Corporate Member of the Australasian Institute of Mining and Metallurgy. Mr Thamm is a Director of Lucapa Diamond Company Limited. Mr Thamm has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves. Mr Thamm consents to the inclusion in this website of the matters based on this information in the form and context in which it appears.