Category: Diamcor Mining

KELOWNA, BC / ACCESSWIRE / May 4, 2023 / Diamcor Mining Inc. (TSX-V.DMI)(OTCQB-DMIFF)(FRA:DC3A), (“Diamcor” or, the “Company”) a Canadian based diamond mining Company with a proven history in the mining, exploration, and sale of rough diamonds, announces today that it will be proceeding with an extensive drilling and bulk sampling program over the greater portions of its Krone-Endora at Venetia diamond mine project (the “Project”).

These efforts will be aimed at further identifying and locating additional material which is known to have shifted and eroded from the adjacent De Beers’ Venetia diamond mine. Diamcor’s establishment of infrastructure, two large processing plants, heavy equipment, and the extensive large-scale trial mining exercises completed to date in the initial area of 657 hectares of the Project’s total 5,888 hectares, have allowed Diamcor to refine unique approaches to mining using advanced technology and techniques to extract diamonds from the Project in a safe, efficient, and environmentally responsible manner. The previous establishment of these collective items will allow Diamcor to now advance these additional drilling and bulk sampling efforts in a very cost-effective and efficient manner.

“The considerable effort to date now allows us to proceed with this drilling and bulk sampling on the greater areas of the Project,” stated Mr. Dean Taylor, Diamcor’s CEO. “The knowledge gained from previous trial-mining and the sale of rough diamonds, along with recent modeling and initial input of some of the industry’s most respected geological experts, all point to the potential to identify significant additional material from the known shift and erosion off of Venetia.“

The initial trial-mining efforts undertaken to date have provided the Company with a better understanding of the shift and erosion of the estimated 1,000 vertical meters of material from the De Beers Venetia diamond mine kimberlite clusters that are known to have been displaced in the direction of Diamcor’s Krone and Endora properties. Both properties are co-located with De Beers Venetia mine, which is recognized as one of the top-producing diamond mines in the world. Trial mining exercises are expected to continue on portions of the initial area in conjunction with the additional drilling and bulk sampling exercises, with both items serving to further advance the recommended work programmes from the Project’s initial NI 43-101.

Further details on the parties involved in the management and independent oversight of these drilling and bulk sampling exercises will be outlined in a separate release to be issued by the Company in the coming days.

About Diamcor Mining Inc.

Diamcor Mining Inc. is a fully reporting publicly traded Canadian diamond mining company with a well-established history in the mining, exploration, and sale of rough diamonds. The Company is listed on the TSX Venture Exchange (V.DMI), and trades on the OTC QB International (DMIFF). The Company’s primary focus is on the development of its Krone-Endora at Venetia Project which is co-located and directly adjacent to De Beers’ Venetia Diamond Mine in South Africa. The Venetia diamond mine is recognized as one of the world’s top diamond-producing mines, and the deposits which occur on Krone-Endora have been identified as being the result of shift and subsequent erosion of an estimated 1,000 vertical meters of material from the higher grounds of Venetia to the lower surrounding areas in the direction of Krone and Endora. The Company focuses on the acquisition and development of mid-tier projects with near-term production capabilities and growth potential and uses unique approaches to mining that involves the use of advanced technology and techniques to extract diamonds in a safe, efficient, and environmentally responsible manner. The Company has a strong commitment to social responsibility, including supporting local communities and protecting the environment.

About the Tiffany & Co. Alliance

The Company has established 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 at market prices. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing in an effort to advance the Project as quickly as possible. Tiffany & Co. is now owned by Moet Hennessy Louis Vuitton SE (LVMH), a publicly traded company which is listed on the Paris Stock Exchange (Euronext) under the symbol LVMH and on the OTC under the symbol LVMHF. For additional information on Tiffany & Co., please visit their website at www.tiffany.com.

About Krone-Endora at Venetia

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 with a maximum total depth of approximately 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, which is widely recognised as one of the top producing diamond mines in the world.

Qualified Person Statement:

Mr. James P. Hawkins (B.Sc., P.Geo.), is Manager of Exploration & Special Projects for Diamcor Mining Inc., and the Qualified Person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor’s exploration programmes and a Member of the Association of Professional Engineers and Geoscientists of Alberta (“APEGA”). Mr. Hawkins has reviewed this press release and approved of its contents.

On behalf of the Board of Directors:

Mr. Dean H. Taylor
President & CEO
Diamcor Mining Inc.
www.diamcormining.com

For further information contact:

Mr. Dean H. Taylor
Diamcor Mining Inc
DeanT@Diamcor.com
+1 250 862-3212

Mr. Rich Matthews
Integrous Communications
rmatthews@integcom.us
+1 (604) 355-7179

This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgement, they are subject to a variety of risks and uncertainties that are beyond the Company’s ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Further, the Company expressly disclaims any obligation to update any forward looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.

WE SEEK SAFE HARBOUR

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Diamcor Mining Inc.

View source version on accesswire.com:
https://www.accesswire.com/753016/Diamcor-to-Begin-Bulk-Sampling-into-Greater-Areas-of-its-Krone-Endora-at-Venetia-Diamond-Mine-Project

KELOWNA, BC / ACCESSWIRE / April 18, 2023 / Diamcor Mining Inc. (TSXV:DMI) (OTCQB:DMIFF) (FRA:DC3A), (“Diamcor” or, the “Company”) is pleased to announce the appointment of Mr. Ross McElroy as Special Advisor to the Company.

Mr. McElroy is a professional geologist with over 35 years of experience in the mining industry, holds a Bachelor’s Degree in Science with a Specialization in Geology from the University of Alberta in 1987, and is a registered professional geologist in Saskatchewan, British Columbia and Nunavut/Northwest Territories. He is the winner of the 2014 PDAC Bill Dennis award for exploration success and the Northern Miner “Mining Person of the Year Award”. Mr. McElroy’s comprehensive experience includes working and managing many types of mineral projects from grass roots exploration to feasibility and production. He has held senior technical and executive positions with both major and mid-tier mining companies, which include BHP, Orano, and Cameco. He was a key member of the discovery team of the giant MacArthur River uranium deposit and played a key roll in the discoveries and development of the hugely successful Fission Uranium Corp, where he presently holds the role as President and CEO. Mr. McElroy has also had a successful career in the search, discovery, development and mining of other commodities including diamonds during the several years he spent as Senior Geologist for BHP’s Ekati diamond mining operation in northern Canada.

“After many years of informal discussions on our Project and our long-term goals, I am very pleased to now have Mr. McElroy as a technical advisor to our Company,” stated Mr. Dean Taylor, Diamcor’s CEO. “I truly believe his input based on his past experiences and continued interest in the diamond sector, along with his proven ability to successfully advance various projects from discovery to production, will prove very beneficial to Diamcor.”

“Diamcor’s Krone-Endora at Venetia Project has always been a point of many interesting discussions, and the fact they are dealing with a significant low-cost displacement project from the prolific De Beers Venetia mine presents an attractive scenario,” stated Mr. Ross McElroy. “I know that the entire management team’s post-Covid focus is to execute its previous plans to grow the Project and expand their business. I look forward to providing them with my insight to enhance their ability to do so,” added Mr. McElroy.

About Diamcor Mining Inc.

Diamcor Mining Inc. is a fully reporting publicly traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI, and on the OTC QB International under the symbol DMIFF. The Company has a well-established operational and production history in South Africa and extensive prior experience supplying rough diamonds to the world market.

About the Tiffany & Co. Alliance

The Company has established 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 at then current prices to be determined by the parties on an ongoing basis. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing to advance the Project. Tiffany & Co. is now owned by Moet Hennessy Louis Vuitton SE (LVMH), a publicly traded company which is listed on the Paris Stock Exchange (Euronext) under the symbol LVMH and on the OTC under the symbol LVMHF. For additional information on Tiffany & Co., please visit their website at www.tiffany.com.

About Krone-Endora at Venetia

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 a maximum total depth of approximately 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.

Qualified Person Statement:

Mr. James P. Hawkins (B.Sc., P.Geo.), is Manager of Exploration & Special Projects for Diamcor Mining Inc., and the Qualified Person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor’s exploration programmes and a Member of the Association of Professional Engineers and Geoscientists of Alberta (“APEGA”). Mr. Hawkins has reviewed this press release and approved of its contents.

On behalf of the Board of Directors

Mr. Dean H. Taylor
President & CEO

Diamcor Mining Inc.
www.diamcormining.com

For further information contact:

Mr. Dean H. Taylor
Diamcor Mining Inc
DeanT@Diamcor.com
+1 250 862-3212

Mr. Rich Matthews
Integrous Communications
rmatthews@integcom.us
+1 (604) 355-7179

This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgement, they are subject to a variety of risks and uncertainties that are beyond the Company’s ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Further, the Company expressly disclaims any obligation to update any forward looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.

WE SEEK SAFE HARBOUR

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Diamcor Mining Inc.

View source version on accesswire.com:
https://www.accesswire.com/749724/Diamcor-Appoints-Award-Winning-Ross-McElroy-as-Special-Advisor

KELOWNA, BC / ACCESSWIRE / April 4, 2023 / Diamcor Mining Inc. (TSX-V.DMI), (OTCQB-DMIFF), (FRA:DC3A), (“Diamcor” or, the “Company”) announces today that despite the recent issues with the supply of consistent power in South Africa during the period, the Company was able to achieve strong results from the tender and sale of rough diamonds recovered from the limited processing of quarry material at the Company’s Krone-Endora at Venetia Project (the “Project”). In the Company’s fourth fiscal quarter ending March 31, 2023, a total of 3,310.67 carats of rough diamonds including two large gem quality diamonds in the specials category (+10.8 carats), generated gross revenues of USD $1,579,728.40, resulting in an average price of USD $477.16 per carat for the period.

Highlights

• Large Gem Quality Diamonds. Two large gem quality rough diamonds in the specials category were sold in the period, a 72.5 carat and the 45.15 carat. The recovery and sale of these two rough diamonds continue to demonstrate the Project’s potential for large gem quality diamonds to be recovered, and their ability to enhance revenues and the overall average dollar per carat achieved in any given period.
• $477.16 per Carat Average. Despite the limitations in the volume of quarry material able to be processed at the Project during the period, the recovery of the two larger gem quality rough diamonds served to enhance both gross revenues and the average US dollar per carat during the period.
• Power Supply Management. The Company has been proactive in managing the well-documented recent power issues with Eskom, South Africa’s national power supplier, and will continue to manage its operations to maximize efficiencies where possible in the processing of quarry material for the short-term. The procurement and installation of the previously announced globally recognized tier 1 Battery Energy Storage System (BESS), power conditioning, switching systems, and generator backups remains a key focus of the Company and is targeted for completion by the end of calendar Q2. Once installed, the Company believes this system will serve to significantly reduce, or eliminate, the impact of any potential future power supply issues at the Project for the long-term.

“We are very encouraged by the results achieved during the period, which again demonstrates our operational team’s continued ability to adapt to various situations and execute strategies aimed at minimizing the impact of such events where possible,” stated Mr. Dean Taylor, Diamcor’s CEO. “We will continue to manage the current operational limitations in the short-term while advancing additional objectives aimed at planned growth into the greater surrounding areas of the Project, and expedite the finalization of the power system to allow us to resume our primary goal of increasing processing volumes at the Project.”

About Diamcor Mining Inc.

Diamcor Mining Inc. is a fully reporting publicly traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI, and on the OTC QB International under the symbol DMIFF. The Company has a well-established operational and production history in South Africa and extensive prior experience supplying rough diamonds to the world market.

About the Tiffany & Co. Alliance

The Company has established 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 at then current prices to be determined by the parties on an ongoing basis. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing to advance the Project. Tiffany & Co. is now owned by Moet Hennessy Louis Vuitton SE (LVMH), a publicly traded company which is listed on the Paris Stock Exchange (Euronext) under the symbol LVMH and on the OTC under the symbol LVMHF. For additional information on Tiffany & Co., please visit their website at www.tiffany.com.

About Krone-Endora at Venetia

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 a maximum total depth of approximately 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.

Qualified Person Statement:

Mr. James P. Hawkins (B.Sc., P.Geo.), is Manager of Exploration & Special Projects for Diamcor Mining Inc., and the Qualified Person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor’s exploration programmes and a Member of the Association of Professional Engineers and Geoscientists of Alberta (“APEGA”). Mr. Hawkins has reviewed this press release and approved of its contents.

On behalf of the Board of Directors

Mr. Dean H. Taylor
President & CEO
Diamcor Mining Inc.
www.diamcormining.com

For further information contact:

Mr. Dean H. Taylor
Diamcor Mining Inc
DeanT@Diamcor.com
+1 250 862-3212

Mr. Rich Matthews
Integrous Communications
rmatthews@integcom.us
+1 (604) 355-7179

This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgement, they are subject to a variety of risks and uncertainties that are beyond the Company’s ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Further, the Company expressly disclaims any obligation to update any forward looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.

WE SEEK SAFE HARBOUR

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Diamcor Mining Inc.