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Diamcor Mining Inc. (TSXV:DMI) announced that it has filed an updated NI 43-101 technical report for its Krone-Endora at the Venetia project in South Africa.
As quoted in the press release:
The Technical Report is an update of the initial NI 43-101 technical report for the Project filed on July 30, 2009. The Technical Report provides a summary of the extensive infrastructure that has been completed on the Project, the issuance of a Mining Right in respect of 657.71 hectares of the Project’s total area of 5,888 hectares, the 2011 reverse circulation drill program, the diamond recoveries and sales to date, the trial mining exercises since 2013 and current operations. The Technical Report also provides an updated diamond carat value based upon sales of diamonds recovered from plant and equipment testing and commissioning exercises undertaken by the Company.
Details about Krone-Endora at Venetia project:
In February 2011, Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited, consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers’ flagship Venetia Diamond Mine in South Africa. On September 11, 2014, the Company announced that the South African Department of Mineral Resources had granted a Mining Right for the Krone-Endora at Venetia Project encompassing 657.71 hectares of the Project’s total area of 5,888 hectares. The Company has also submitted an application for a mining right over the remaining areas of the Project. The deposits which occur on the properties of Krone and Endora have been identified as a higher-grade “Alluvial” basal deposit which is covered by a lower-grade upper “Eluvial” deposit. The deposits are proposed to be the result of the direct-shift (in respect to the “Eluvial” deposit) and erosion (in respect to the “Alluvial” deposit) of material from the higher grounds of the adjacent Venetia Kimberlite areas. The deposits on Krone-Endora occur in two layers with an average total depth of less than 15.0 metres from surface to bedrock, allowing for a very low-cost mining operation to be employed with the potential for near-term diamond production from a known high-quality source. Krone-Endora also benefits from the significant development of infrastructure and services already in place due to its location directly adjacent to the Venetia Mine.
Click here to read the Diamcor Mining Inc. (TSXV:DMI) press release
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