Diamcor Tenders Goods From Krone-Endora at Venetia Project

(IDEX Online News) – Junior miner Diamcor Mining Inc. sold 3,123 carats of rough diamonds for $415,495, or $133 per carat (p/c), at its recent tender of goods from the Krone-Endora at Venetia Project in South Africa. 

The company said the rough was recovered in conjunction with testing and commissioning exercises performed on the expanded quarrying and in-field screening operations at the project.

"I am very pleased with our team's ability to achieve these results given the significant challenges they faced during the quarter," said Diamcor President and CEO Dean Taylor, referring to the unusual rains at the mine earlier this year.  

"The new expanded quarrying and in-field operations are more efficiently able to process the smaller size fractions as confirmed by the additional rough diamonds recovered through the re-treatment of these previously processed materials. The overall dollar per carat achieved for these exercises certainly exceeded our expectations given that the challenging operating circumstances of the quarter were expected to result in a weaker, non-representative sample consisting of a greater number of smaller rough diamonds as compared to results expected during normal operations," he added.

Diamcor Mining Inc.’s focus is on the identification, acquisition and operation of unique diamond projects with near-term production potential such as the Krone-Endora at Venetia Project. The miner also has a long-term strategic alliance with Tiffany & Co.