Exploration Update at Lulo, Orapa Area F, and Brooking

Lucapa Diamond Company Limited (ASX: $LOM) has identified 23 new kimberlite targets for bulk sampling at Lulo, Angola, and completed extensive drilling programs at Brooking, Western Australia, and Orapa Area F, Botswana. The exploration update includes the selection of six high-priority kimberlites for sampling, with a focus on identifying the source of high-value diamonds at the Cacuilo River valley.

Executive Commentary

The majority of kimberlites sampled so far have indicated to be very low grade or barren, supporting the hypothesis that the diamonds in the alluvial deposits of the Cacuilo River are likely to be sourced from relatively few, higher grade and significantly sized deposits. This increases the possibility of finding kimberlites with economic potential within the Lulo cluster. The immediate focus is on sampling kimberlites closer to the Cacuilo River, which are more likely to be the major sources of the diamonds being found in the alluvial deposits.

Exploration Summary and Outlook

The exploration update at Lulo, Angola, Orapa Area F, Botswana, and Brooking, Western Australia, demonstrates Lucapa Diamond Company's commitment to identifying new kimberlite targets and potential sources of high-value diamonds. The identification of 23 new kimberlite targets for bulk sampling at Lulo, along with the completion of extensive drilling programs at Brooking and Orapa Area F, reflects the company's strategic focus on exploration and potential resource expansion. The ongoing exploration efforts and the prioritization of high-potential kimberlites indicate a positive outlook for the company's future prospects and its goal of identifying economically viable diamond deposits.