Lucara Diamond Corp.: Mothae Operations Update
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 20, 2007) - Lucara Diamond Corp. ("Lucara" or "the Company") (CNQ:LUCA) is pleased to provide the following update on progress at the Mothae kimberlite project in Lesotho.
Fabrication of a 40 tonne per hour Dense Media Separation plant was completed in early December and the plant has been mobilized to the Mothae site. Assembly work is in progress and is expected to be completed by the end of this month. Wet testing of the plant will commence immediately thereafter.
At the Mothae site, work is nearing completion on the waste storage area, and a plant process water reservoir. In addition, pre-stripping of the initial sample site is underway and 5,000 tonnes of kimberlite material will be stockpiled for processing in early 2008.
The Mothae project is a large-scale bulk sampling program being carried out by Lucara's partner, Motapa Diamond Corp. The Mothae kimberlite is located 6.5 km from the world-famous Letseng diamond mine, which produces the world's highest value run of mine diamonds. The Mothae kimberlite is known to have a diamond grade similar to Letseng; Motapa and Lucara are carrying out the sampling program to determine if Mothae also contains a population of large, high value diamonds similar to Letseng.
A 30,000 tonne sample will be processed in the first half of 2008 to make an initial assessment of diamond size distribution for Mothae. Pending results of this work, an additional 70,000 tonnes will be processed to determine diamond value.
On Behalf of the Board,
Lukas H. Lundin, President
Forward-looking statements: This press release contains statements about expected or anticipated future events and financial results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events and management's capacity to execute and implement its future plans. Actual results may differ materially from those projected by management.