Diamcor Mining prepares for its largest rough diamond tender

Diamcor Mining Inc. is preparing to hold its largest tender to date, with approximately 6,800 carats of rough diamonds recovered from its Krone-Endora at Venetia project in South Africa. The company announced it is preparing diamond inventory for the sale. This will be the initial tender of the company’s third fiscal quarter ending December 31, 2015. Included in the offering are around 2,800 carats of rough diamonds from material recovered and processed from the beginning of October to the 25th of the month, along with ~4,000 carats of rough diamonds which the Company previously announced were held as rough diamond inventory as of September 30, 2015. The rough diamonds being offered for will include certain higher value rough diamonds which the company withdrew from the previous tender, namely eight individual 2-3 carat rough diamonds, as well as one 10.93 carat “special” (+10.8 carat rough diamonds), and four additional individual “specials” ranging in size between ~11.72 carats and ~18.05 carats.

The rough diamonds being tendered are the result of the continued processing of material in the +1.0mm to -26mm size fractions, along with limited processing of material from various larger size fractions during the period. The combined efforts currently underway are designed to support the continued advancement of objectives consistent with the recommendations of the updated NI43-101 Technical Report (“Updated Technical Report”) filed by the Company on April 28, 2015, and to aid the Company in arriving at initial production decisions for the Project.

The recovery of all rough diamonds to date are incidental to the ongoing commissioning and testing exercises performed at the Project. The above-noted testing exercises and incidental recoveries do not form part of the Updated Technical Report and therefore no general grade, price, or quality determination is intended by the company at this time due to the nature and purpose of the processing of this material.