Great press release
News Releases
Recovery of Initial Rough Diamonds at Krone-Endora at Venetia Project
March 5, 2012
KELOWNA, March 5, 2012 - Diamcor Mining Inc. (TSX-V.DMI / OTCQX-DMIFF) (the “Company”), is pleased to announce the initial recovery of rough diamonds from the company’s Krone-Endora at Venetia project (the “Project”). The rough diamonds were recovered in conjunction with initial testing and commissioning work completed on the x-ray flow-sort final recovery modules being installed at the Project. As part of the tests, approximately 30%, or 3 tons, of a total 10 tons of unprocessed concentrate which was acquired by the Company as part of the Project’s acquisition from De Beers were processed, resulting in the recovery of 1,877 individual rough diamonds with a total weight of approximately 143.96 carats. Of the diamonds recovered, six of the individual stones were 1.0 carat or larger in size, with the two largest being recorded at approximately 3.93 carats and 2.09 carats respectively. The acquired concentrate processed and used for this testing was a by-product of exploration and bulk sampling efforts previously completed by De Beers on the Project, and was recovered from various depths and areas in and around the K1, K3, and confluence areas of the Project.
The Company views these results as very encouraging and valuable given the material used was directly recovered from known areas of the Project which are being targeted for future mining operations. It should be noted that these testing recoveries do not form part of the initial NI43-101 Technical report filed by the Company on July 30, 2009, and no grade or quality determination is intended by the Company due to the nature and purpose of the processing of this material.
“The initial recovery of rough diamonds from the Krone-Endora at Venetia project represents yet another key milestone for our Company,” noted Diamcor CEO Dean Taylor. “With this important step now accomplished, we are focused on completing the remaining installation, testing, and commissioning work underway on the Project’s processing plant and infrastructure as quickly as possible, which will allow us to further advance the Project and move towards our next milestones,” added Mr. Taylor.
The Processing plant and infrastructure development being installed at the Project has been designed in conjunction with the use of large power-screening equipment to initially allow for the processing of up to 200 tons of material per hour. Upon successfully completing installation and commissioning of the processing plant and related infrastructure, the Company is targeting staged monthly operational increases during the near-term trial-mining phase in conjunction with additional bulk sampling exercises on new areas of the Project not previously accounted for in its initial NI 43-101 Technical Report. In addition to securing short-term production, these efforts are designed to support the filing of a new updated and current NI 43-101 Technical Report for the Project, and to assist the Company in arriving at final long-term production targets and decisions for the Project.
They processed ten tons for the testing...wait until they process 200 tons PER DAY.
Hold on to your shares.