Mothae Project Summary

Location Lesotho
Ownership 75% Lucara, 25% Government of Lesotho
Royalty 8% of gross revenue
Type Hard rock. Open Pit.
Status Care and maintenance
Resources Indicated resource of 2.39 mt @ 3.0 cpht containing 0.07 million carats

Inferred resource of 36.57 mt @ 2.7 cpht containing 1.0 million carats

(NI 43-101 Technical Report and Mineral Resource Estimate for the Mothae Diamond Project, Lesotho, Prepared by The MSA Group (Pty) Ltd,  Effective date February 28, 2013)
Bulk Sampling 3 phases from 2008 to 2010; 695,937 wet tonnes processed
Diamonds Significant population of Type IIa stones

Mothae High Value Specials
Selling Price (Actual)
Stone Size (ct)
Price ($/ct)
Date Sold
Press Release
28.89
$            57,113
11-Dec
12/12/2011
13.87
$            43,000
11-Mar
3/28/2011
56.51
$            37,019
11-Dec
12/12/2011
24.57
$            32,351
11-Mar
3/28/2011
9.74
$            28,000
12-Sep
9/17/2012
20.13
$            27,995
11-Mar
3/28/2011
19.2
$            25,520
11-Dec
12/12/2011
 
   
  Cautionary and Forward Looking Information


The Mothae kimberlite is situated on the southern edge of the Kaapvaal Craton, which extends through central, eastern and north-eastern South Africa, into southern Zimbabwe and south-eastern Botswana, and incorporates most of Swaziland. The Kaapvaal Craton is host to numerous important diamondiferous kimberlites of various ages, including the Mesoproterozoic Premier kimberlite (Cullinan Mine), the Cambrian Venetia kimberlites, the Middle Triassic Jwaneng kimberlites, and the Cretaceous Kimberley, and Finsch kimberlites.

As the diamondiferous Northern Lesotho Kimberlite Field is in the Kaapvaal Craton it conforms to 'Clifford's Rule', which states that diamondiferous kimberlites tend to occur in geological regions that have been tectonically stable since the Archaean.

The Archaean basement in Lesotho is entirely covered by the flat-lying Palaeozoic to Mesozoic Karoo Supergroup, which reaches a thickness of approximately 4 km in Lesotho.

The surface geology within the Mothae license area comprises amygdaloidal and non-amygdaloidal Mesozoic (180 Ma) Drakensberg Group flood basalt, into which the Mothae kimberlite has intruded. The average elevation of the Mothae kimberlite is approximately 3,000 m amsl and the thickness of the basalt into which it is emplaced is estimated to be of the order of 1,000 m, although basalt thickness on the property may locally reach up to 1,400 m. Basalts are underlain by Beaufort Group sediments of the Karoo Supergroup.

Kimberlite emplacement during the Cretaceous Period was widespread throughout southern Africa and was probably associated with tectonic triggers during the break-up of Gondwana (Bailey, 1992).

The Mothae kimberlite consists of a main southern pipe-like lobe (South Lobe) connected to a smaller northern lobe (North Lobe) by an elongate central kimberlite body (Neck). The South Lobe has a surface expression of 5.05 ha and the three areas combined form a total surface area of 8.81 ha. Wall rock contacts for the North and South Lobes are have been delineated by geophysical data and drill core intercepts. The contact between the kimberlite and the basalt is typically sharp and steep with localized zones of wall rock breccia.

The kimberlite itself comprises almost entirely of massive volcaniclastic kimberlite of different types. The different kimberlite types have been 'fingerprinted' in terms of their Kimberlite Indicator Mineral (KIM) content and petrographic characteristics as a control on bulk sampling; this being important as each has a different grade and revenue.