Paragon Diamonds Ltd

KapLamp - Zambia (100%)
Summary Project Details
Project area: 863 km²

Located in Eastern Zambia and close to the Luangwa valley, KapLamp is a large area hosting 14 Lamproite pipes within a well-known diamondiferous region. The area is highly prospective; previous exploration work undertaken by De Beers in the 1960s and early 1970s discovered a 16.5 ha pipe (“Pipe 2”) from which a 234 m3 sample was taken and a significant number of diamonds recovered; 184 diamonds up to 0.5 carats in weight including yellow, orange and brown stones. Other diamonds were recovered from four other pipes with surface areas up to 45 ha.

De Beers relinquished the area as Lamproites were not recognised at the time as being economic sources of diamonds. This view has changed: the Australian Argyle Mine discovered in 1979, currently the largest diamond producer in the world, producing over 90% of the world’s pink diamonds; and the Ellendale Mine producing 50% of rare fancy yellow diamonds are from Lamproites. The Company therefore believes that these targets warrant re-evaluation.

The Company’s current exploration strategy is based upon the delineation and subsequent evaluation of the potentially economically significant diamond-bearing "Argyle Type" olivine Lamproites.

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