VANCOUVER, Sept. 26, 2019 /CNW/ - (LUC – TSX, LUC – BSE, LUC
– Nasdaq Stockholm)
Please view PDF version of news release.
Lucara Diamond Corp. ("Lucara" or the "Company") is pleased to
announce the recovery of an exceptional blue, 9.74 carat gem
quality diamond and a 4.13 carat pink gem quality diamond (image
attached), from direct milling of South Lobe ore from its 100%
owned Karowe Diamond Mine located in Botswana. This follows
the recent sale of a 2.24 carat blue which sold for US$347,222 per carat and other historic coloured
diamonds that have been recovered from Karowe in the past,
including the 9.46ct "Aven Blue"
which sold for US$477,000 per carat
in 2012.
THE 9.74 CARAT GEM QUALITY BLUE DIAMOND AND 4.13 CARAT GEM
QUALITY PINK DIAMOND
Eira Thomas, Lucara's CEO commented: "Lucara is extremely
pleased with the recovery of these rare, sizeable, fancy coloured
diamonds, which have the potential to contribute meaningful value
to our regular production of large, high value type IIa
diamonds. We look forward to offering these diamonds in our
fourth quarter tender to be held in December
2019."
This press release has been reviewed and approved by Dr.
John Armstrong, Ph.D. P.Geol.,
Vice-President, Technical Services of the Company and a "Qualified
Person" for the purposes of National Instrument 43-101.
On behalf of the Board,
Eira Thomas
President and Chief Executive Officer
Follow Lucara Diamond on: Facebook, Twitter, Instagram and
LinkedIn
ABOUT LUCARA
Lucara is a leading independent producer of large exceptional
quality Type IIa diamonds from its 100% owned Karowe Mine in
Botswana. The Company has an
experienced board and management team with extensive diamond
development and operations expertise. The Company operates
transparently and in accordance with international best practices
in the areas of sustainability, health and safety, environment and
community relations.
The information in this release is accurate at the time of
distribution but may be superseded or qualified by subsequent news
releases.
This information is information that the Company is obliged to
make public pursuant to the EU Market Abuse Regulation and the
Swedish Securities Markets Act. This information was submitted for
publication, through the agency of the contact person set out above
on September 26, 2019 at 5:30 am Pacific Time.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
Certain of the statements made and contained herein and
elsewhere constitute forward-looking statements as defined in
applicable securities laws. Generally, these forward-looking
statements can be identified by the use of forward-looking
terminology such as "expects", "anticipates", "believes",
"intends", "estimates", "potential", "possible" and similar
expressions, or statements that events, conditions or results
"will", "may", "could" or "should" occur or be achieved.
Forward-looking statements are based on the opinions and
estimates of management as of the date such statements are made and
they are subject to a number of known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievement
expressed or implied by such forward-looking statements. The
Company believes that expectations reflected in this
forward-looking information are reasonable, but no assurance can be
given that these expectations will prove to be accurate and such
forward-looking information included herein should not be unduly
relied upon. In particular, this release contains forward looking
information with respect to management's expectations about the
likelihood of recovering additional, high quality diamonds from the
Karowe Mine in the future and our ability to achieve our 2019
revenue guidance. The value of the Company's shares, its financial
results and its mining activities are significantly affected by the
price and marketability of the diamonds recovered. The sales
price of a diamond is determined by its characteristics.
While the Karowe Diamond Mine has produced a number of large,
high-value diamonds in excess of 100 carats, there is no assurance
that the diamonds recovered which are 100 carats or larger will
have the characteristics required to achieve a high sales
price.
There can be no assurance that such forward looking statements
will prove to be accurate, as the Company's results and future
events could differ materially from those anticipated in this
forward-looking information as a result of those factors discussed
in or referred to under the heading "Risks and Uncertainties"' in
the Company's most recent Annual Information Form available at
http://www.sedar.com, as well as changes in general business and
economic conditions, changes in interest and foreign currency
rates, the supply and demand for, deliveries of and the level and
volatility of prices of rough diamonds, costs of power and diesel,
acts of foreign governments and the outcome of legal proceedings,
inaccurate geological and recoverability assumptions (including
with respect to the size, grade and recoverability of mineral
reserves and resources), and unanticipated operational difficulties
(including failure of plant, equipment or processes to operate in
accordance with specifications or expectations, cost escalations,
unavailability of materials and equipment, government action or
delays in the receipt of government approvals, industrial
disturbances or other job actions, adverse weather conditions, and
unanticipated events relating to health safety and environmental
matters).
Accordingly, readers are cautioned not to place undue reliance
on these forward-looking statements which speak only as of the date
the statements were made, and the Company does not assume any
obligations to update or revise them to reflect new events or
circumstances, except as required by law.
Investor Relations & Public Relations, +1 604 689 7842,
info@lucaradiamond.com; Sweden:
Robert Eriksson, Investor Relations,
+46 701 112615, reriksson@rive6.ch