Lucara Diamond unearths over 530-carats at Karowe mine in Botswana

Lucara Diamond (TSX: LUC) announced Wednesday the recovery of a 320-carat, a 111-carat and two +50-carat stones from its 100% owned Karowe diamond mine in Botswana.

The diamonds were recovered from the direct milling of kimberlite ore from the South Lobe during a recent production run that saw additional recoveries of numerous, smaller +10.8 carat diamonds of high value, the company said.

The 320-carat is a gem-quality, top light brown diamond, while the 111-carat diamond is described as a Type IIa white stone of high quality. The two +50-carat stones add to these recent recoveries and are also Type IIa white diamonds.

These add to the collection of significant stones uncovered at Karowe, where last summer Lucara recovered a 692.3-carat diamond.

The recoveries, the company said, re-enforce the development of the underground mine which will target >95% EM/PK(S) ore during the first three years of underground production. The company invested $106 million in 2022 in underground development at Karowe.

“These diamond recoveries from the EM/PK(S) domain of the South Lobe further validate the quality and potential of the Karowe diamond mine,” CEO William Lamb said in a statement.

“Our team’s dedication to innovation and operational excellence continues to drive our success, and we look forward to delivering further value to our stakeholders,” Lamb said.