Diamcor Mining Announces Recovery of Special Diamonds

Mining and Exploration
22/03/2016 14:57

Diamcor Mining Inc. has announced the recovery of two “special” gem-quality rough diamonds (+10.8 carats), an 11.64 and a 12.73 carat stone, from its Krone-Endora at Venetia Project in South Africa. This find follows the recent recovery of 7.50 and 12.78 carat rough diamonds sold at recent tender. The recovery of these two gem-quality rough diamonds occurred during initial testing being performed on its Tomra XRT system that it is integrating into the in-field screening operations at the Project in order to: test the effects of further concentrating and reducing the size fractions of material being processed at the Project’s Main-Treatment Plant; reduce overall water consumption associated with processing of all material, and; reduce the operational costs of heavy equipment. Diamcor expects to sell the diamonds in upcoming tenders next fiscal quarter.

Diamcor has a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of world famous New York based Tiffany & Co., to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing to advance the Project.