ASX-listed -Lonrho Mining’s newly appointed executive chairman Gordon Gilchrist is expected to lead the commencement of the kimberlite exploration phase at its Lulo Diamond Concession in Angola.
The kimberlite exploration programme at Lulo was expected to take between 12 and 18 months, with funding coming from the proceeds of the recent capital raising.
Lonrho managing director Miles Kennedy said the company would be testing 61 priority kimberlite targets identified with the Lulo concession.
“These kimberlite targets were selected for drill testing by international diamond expert Manfred Marx as part of an extensive review of the economic potential of the Lulo project,” he said in a statement to shareholders.
Lulo was a highly prospective 3,000km² diamond concession that Lonrho intended to develop with Endiama, the national diamond company of Angola.
The concession was located 150 kilometres from the Catoca mine, which is considered to be the third biggest kimberlite mine in the world, with reserves of 170 million carats.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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