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LUCARA ANNOUNCES UNDERGROUND PROJECT LATERAL DEVELOPMENT CONTRACT EXECUTION
LUCARA ANNOUNCES UNDERGROUND PROJECT LATERAL DEVELOPMENT CONTRACT EXECUTION Canada NewsWi...
About this update from Lucara Diamond Corp.
[{"type":"text","content":"\n\n\nLUCARA ANNOUNCES UNDERGROUND PROJECT LATERAL DEVELOPMENT CONTRACT EXECUTION\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\nCanada NewsWire\n\n\nVANCOUVER, BC, Dec. 1, 2025 /CNW/ - (TSX: LUC) (BSE: LUC) (Nasdaq FNGM: LUC)\nLucara Diamond Corp. (\"Lucara\" or the \"Company\") is pleased to announce the execution of the lateral development contract (the \"Contract\") for the Karowe underground project (the \"UGP\" or the \"Project\") with Group R Mining and Exploration Botswana (Pty) Ltd. (\"Group R\"). The Company has entered into the Contract for the execution of all underground lateral development from the production and ventilation shafts to the orebody, including construction of the extraction level, underground crushing chamber, fine ore bins, pump stations with associated vertical dams, drilling horizons, workshop facilities, and all connecting infrastructure required to advance development toward the kimberlite in accordance with the Project schedule. The decision aligns with Lucara's commitment to the successful development of the UGP, which will extend the life of mine at Karowe and maintain its position as a leading producer of large, world-class, high-quality diamonds. PDF Version \nGroup R are expected to mobilize in Q2 2026, with lateral development work commencing in July 2026. Recruitment and work permits will start in early 2026, with a focus on local employment. Lucara has initiated detailed engineering of the lateral development portion of the UGP and is finalizing an updated life-of-mine plan based on the results of the simulation work (see Q3 2025 Results news release for more details).\nWilliam Lamb, President and CEO of Lucara, commented, \"We are pleased to announce the award of this critical Contract to Group R, marking an important milestone in the continued development of our underground project. The award of the last major contract for the UGP reflects our commitment to maintaining momentum on the Project and delivering the Project safely, responsibly, and in accordance with our schedule. We are confident that Group R's expertise and pr...