Lucara Diamond reported that in the course of the second program of taking gross mini samples on site BK02 in Botswana, she learned 309.79 carats from 5,021 tonnes of kimberlite and diamond content in the sample was 6.2 carats per hundred tonnes.
According to the company, the largest diamond recovered weighed 4.56 carats and was in the form of an octahedron of white-gray color.
"The results of the second program of taking gross mini samples on BK02 area are very encouraging, indicating an improvement in diamond and confirming the presence of a large sample size to BK02 area - said the CEO of Lucara Uilyam Lemb (William Lamb). - United Party diamond samples for preliminary valuation of rough diamonds, which we expect to be able to put on the market in the second quarter of 2017. During the next phase of the study on BK02 we have to understand the volume of diamond content and size distribution at depth. "
The resulting diamonds will be transferred to an independent evaluation in the second half of the year. The drilling program of large diameter wells in the area BK02 is at an advanced stage of planning, and at the same time the process of preparing the tender for these works.
In the second quarter, the company expects to receive the first materials for the pilot drilling program.
Lucara reported that the program of deep drilling at the mine cars (Karowe) within kimberlite AK06 was completed in the first quarter of this year.
The program was designed to increase confidence in the geological model of the southern ridge AK06 kimberlite and to provide sufficient data and materials to update information about the resource field, which will be used to explore options for the development of underground mine cars.
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Gold mining in China in the first quarter of 2016 increased by 0.8% compared to the same period last year to 111.56 tons. On 31 March 2016 the gold reserves of the country reached 1,797.5 tons, according to statistics from the China Association of gold (China Gold Association). The increase in gold production was due to a rebound in world prices for the metal, weakening the world's major currencies and the stabilization of commodity prices.
In the first quarter of this year, gold consumption in China fell to 318.28 tons, which is 3.9% lower than in the same period last year. Sales of gold jewelry, in particular, decreased by 14.4% to 193.57 tonnes over the same period last year. However, the demand for gold ingots in China increased by 22.4% during the reporting period to 91.35 tons, partially offsetting reduction jewelry sales.
According to the association, the gold market in China is growing rapidly, and the volume of trade on the Shanghai Gold Exchange (Shanghai Gold Exchange, SGE) reached 11,300 tonnes, which is 15.3% higher compared to the same period last year.
SGE has become one of the most important trade centers of physical gold in the world.
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