Wednesday April 30, 09:00 AM
Lonrho hails Lulo survey
LONDON (ShareCast) - Lonrho Mining's airborne magnetic and radiometric survey of the Lulo Diamond Concession has produced "exceptionally encouraging results". Interpretation by Lonrho Mining's independent geophysical consultant
has identified 217 magnetic anomalies of which an estimated 160 are likely to be kimberlite pipes, it siad, adding that the diamond potential of this kimberlite cluster is very high. A drilling programme will commence this year on the 6 largest anomalies to confirm the presence of kimberlites, the statement said."We are delighted with these results which confirms our belief that Lulo has the potential to be a world class project. The survey results have exceeded our expectations and demonstrates the high diamond prospectivity at Lulo," chief executive Charles Mostert said. The Lulo Diamond Concession is located in the Cuango River Basin within the Lunda Norte Province of north-eastern Angola approximately 630km from the capital city of Luanda. Lonrho Mining is 23% owned by Aim-listed Lonrho.
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