Lucapa Diamond Company (ASX:LOM) provides update on Lulo Kimberlite Exploration and Kimberlite Bulk Sampling Program

Lucapa Diamond Company Limited (ASX:LOM) has announced the postponement of the Project Lulo JV Minerals Investment Contract (MIC) process and the identification of five new priority kimberlites to be bulk sampled. The MIC committee meeting, which was scheduled for September, has been postponed to late October, with Lucapa's interest in the Joint Venture set to be increased from the current 39 percent to a majority stake. Additionally, the Kimberlite Bulk Sampling Program has processed 48 samples from 26 kimberlites in two years, exceeding the original plan.

Executive Commentary on Lulo Kimberlite Exploration and Kimberlite Bulk Sampling Program

Lucapa CEO and MD Nick Selby expressed confidence in the finalization of the new MIC, stating that all required documents have been completed ahead of the next meeting. Selby highlighted the results from the latest kimberlite bulk sampling, supporting the perspective that a few kimberlites are the source of the mined alluvial diamonds, with higher diamond content likely in fewer kimberlites. The company plans to process five priority targets in the southern area of the concession before the wet season commences.

Summary of Lulo Kimberlite Exploration Update and Kimberlite Bulk Sampling Program

Lucapa Diamond Company (ASX:LOM) has provided an update on the postponement of the MIC committee meeting and the identification of new priority kimberlites for bulk sampling. The company's interest in the Joint Venture is expected to increase to a majority stake, and the Kimberlite Bulk Sampling Program has exceeded the original plan by processing 48 samples from 26 kimberlites in two years. The results from the latest kimberlite bulk sampling support the perspective that fewer kimberlites are the source of the mined alluvial diamonds, with higher diamond content likely in these kimberlites. The company plans to process five priority targets in the southern area of the concession before the wet season commences, aiming to capitalize on the dry season for exploration activities.