There have been a number of small, but significant developments reported by medium and smaller miners over the past few days. An overview:

Lucapa

The Australian mining company continued to report recovery of large special diamonds from Mining Block 8 at the Lulo Mine in Angola. Its latest special was a large 74.5 ct Type IIA D-colour gem which is the fourth largest stone recovered to date.

In addition, there were 13 other specials, including diamonds weighing 43.4 cts, 40.4 cts, 38.6 cts, 29.6 cts, 24.1 cts and 21.5 cts.

These recoveries take the total of large diamonds recovered since alluvial mining commencesd in August 2015 to 45.

Since January this year, the company has recovered a total of 71 special diamonds from the mine with an average weight of 23.9 cts.

The average size when all diamonds recovered from the site are considered is 1.6 cts.

Peregrine

Peregrine Diamonds Ltd will be commencing dilling of kimberlite targets in Botswana. Target drilling has commenced at its 100% owned Moralane license in east-central Botswana.

A total of 570 metres in four vertical holes will be drilled in this first phase. Drilling is expected to be completed in early November.

In addition, the company will also carry out target generation at Malolwane, Gope and Nata licence areas.

Dr. Herman Grutter, Vice President, Technical Services said, “The Moralane area hosts some of the most compelling and unexplained indicator mineral chemistry in Botswana. We are looking forward to resolving their source through this focussed drill programme.”

Shore Gold

Shore Gold Inc has completed an updated valuation of the diamond parcels fromthe Star - Orion South Diamond Project. The parcels had earlier been evaluated in 2011. The current prices were determined by WWW International Diamond Consultants Ltd.

Richard Wake Walker of WWW International Diamond Consultants, who participated in all the valuations, states: “Shore diamonds give a good first impression and are likely to be considered highly desirable by diamond traders and polishers. It is highly encouraging that a Star EJF LDD sample contains an 11.96 carat stone valued by WWW at $12,500 per carat. The most valuable stone from the Orion South underground bulk sampling is a 15.88 carat makeable stone recovered from the EJF. WWW valued the stone at $2,950 per carat giving a total value of $46,800. The stone is classified ‘E’ or ‘D’ in colour, but is quite heavily piqued.”

Senior Vice President Exploration & Development, George Read, states: “Shore is pleased with these diamond prices, which have increased substantially since the March 2008 prices, which were used in the previous Mineral Resource estimation. These diamond prices will enable Shore to optimize the Star and Orion South pits to maximize the reported Mineral Resources and the associated positive benefit to Project.”

Pic Caption: The 74.5 ct Type Iia D-colour diamond recovered by Lucapa at its Lulo mine