Lucara Diamond Corp announces the filing of a technical report for the updated Feasibility Study, prepared in accordance with National Instrument Standards of Disclosure for Mineral Projects on its Underground Expansion Project at the Karowe Diamond Mine located in Botswana.
The Report is titled, Karowe Mine – Botswana 2023 Feasibility Study Technical Report, with an effective date of June 30, 2023, and was prepared for Lucara by JDS Energy & Mining Inc.
Karowe is located in north-central Botswana, one of the world’s most prolific diamond producing areas, and is a producer of large, high value type IIa diamonds and the only diamond mine to have produced four diamonds in excess of 1,000 carats in size.
The underground expansion at Karowe is expected to double the mine life, and to generate significant revenue and cashflow out to 2040, extending benefits to the Company, its employees, shareholders, communities surrounding the mine, and Botswana.
The Report provides an update to the 2019 underground feasibility study and 2021 financed base case to reflect changes to project duration, capital expenditure, and technical updates to the Project. All amounts are in U.S. dollars unless otherwise noted.
Extending mine life by 15 years; total life of mine (LOM) diamond recoveries of 6.8 million carats.
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