Lucapa Diamond Company Ltd. today announced the signing of an agreement with Leopold Diamond Company Pty Ltd to acquire 80% interest in the latter’s diamond exploration project in the West Kimberley province in Western Australia.

This acquisition was made after Lucapa’s preliminary technical due diligence indicated that the area had significant potential.

Leopold owns the Brooking Diamond Project, holder of two exploration licences. The Brooking Project is at a distance of about 40 kms from Ellendale diamond field, which was once the largest supplier of rare fancy yellow diamonds. It is also immediately south of the Big Spring kimberlite cluster where the first “unequivocal” evidence of lamproite being a source diamonds was found in 1976.