A subsidiary of Paragon Diamonds has been granted a diamond exploration licence in Zambia.
Tamarisk Investments Pty Ltd—the Zambian subsidiary of International Diamond Consultants (IDC) in which Paragon holds a 44.3 per cent interest—was granted the licence for a two-year period expiring in November 2012. Known as KapLamp, the area covers 862 km2 of eastern Zambia and contains 14 diamondiferous olivine lamproites.
“The award of the KapLamp licence will add to our growing asset base and has provided Paragon with prospective opportunities given the established presence of recovered diamonds in a previously little understood structure type,” said Paragon chair, Frank Scolaro. “IDC is now prioritizing targets within the licence area for further exploration utilizing modern, exploration techniques.”
