Lucapa Diamond and partners gain exploration approval for Lulo Diamond Project
Lucapa Diamond Company, Empresa Nacional de Diamantes and Rosas & Petalas have received approval for a new kimberlite exploration licence for the Lulo Diamond Project.
Angolan Minister of Mines and Geology Francisco Manuel Monteiro de Queiroz formally approved the licence that covers the entire 3,000km² Project Lulo concession.
The new approved kimberlite exploration licence will be valid for five years.
Following approval from the ministry, the Lulo partners can finalise a mineral investment contract together for the new licence, which will include a programme of exploration activities for a five-year period.
The kimberlite exploration programme at Projecto Lulo has been stepped-up in expectation of the new exploration licence, with two rigs drilling the key kimberlite targets and a third drill rig due to arrive in Angola this month.
In addition, a helicopter-borne Time-Domain Electromagnetic survey is about to be flown over the Cacuilo River and valley area to help identify any additional non-magnetic kimberlite targets (such as target 259) and boost the definition of known targets.
In November 2014, the Lulo partners procured the alluvial mining licence from the ministry.