Yup, that is a workhorse and will work just fine for lapping. As said use lot of water, under running water or in a tub and don’t use excessive pressure, it will clog the diamonds and rip them out of the nickel plating.

Do run some steel on the plate to remove any high diamonds, on DMT the edges do seem to be sharp a file or just sharpen a kitchen knife or two should do it. If you see deep scratches on your stone do it again until smooth.

Taken care of. a DMT should last a lifetime. Scrub it once in a while with cleanser and a stiff brush, I like Barkeepers Friend, let it sit on the plate a few minutes and scrub with a stiff nylon or brass brush, it will revive a plate and unclog the diamonds.