Lucapa Diamond Company (ASX: $LOM) announces significant increase in alluvial diamond resource

Lucapa Diamond Company Limited (ASX: $LOM) has reported a substantial 48% increase in the JORC Classified Inferred Alluvial Diamond Resource at the Lulo diamond concession in Angola. The updated resource also reveals a 90% increase in the diluted volume of gravel available for mining, equivalent to eight years of production at planned capacities. The average modelled diamond value stands at US$1,897 per carat, reflecting the sixth consecutive year of increased resource carats.

Executive Commentary on Updated Alluvial Diamond Resource

The updated Lulo Alluvial Resource represents a significant milestone for Lucapa Diamond Company. The substantial increase in inferred alluvial diamond resource and available ore volume underscores the potential for sustained production and revenue growth. The company's commitment to extensive resource definition work and exploration activities has yielded positive results, positioning us for continued success in the diamond mining sector.

Summary of Lucapa Diamond Company's Announcement

Lucapa Diamond Company's updated JORC Classified Inferred Alluvial Diamond Resource at the Lulo diamond concession in Angola demonstrates a 48% increase in resource carats and a 90% increase in available ore volume. The average modelled diamond value of US$1,897 per carat and the sustained growth in resource carats over the past six years reflect the company's strong performance and strategic focus. With the resource volume equivalent to eight years of production at planned capacities, Lucapa is well-positioned for continued success in diamond mining. The company's exploration and resource definition activities have contributed to this significant update, highlighting its commitment to sustainable growth and value creation.