Diamcor sells 2,979.67 carats in November Tender
Diamcor Mining Inc. has announced the tender and sale of 2,979.67 carats of rough diamonds recovered from resumed processing exercises at its Krone-Endora at Venetia Project. The 2,979.67 carats tendered were sold for gross proceeds of US$ 653,652.23, resulting in an average price of US$ $218.82 per carat.
According to Diamcor, most of the material processed consisted of smaller size fractions, in addition to a low percentage of larger higher-grade stockpiled basal material processed in conjunction with the initial incorporation of processing of all size fractions through the Project’s recently refined crushing circuit. An additional 2,312.82 carats of rough diamonds (prior to acid wash) were also delivered prior to the end of November 2018, which will be offered in a final tender of the Company’s third fiscal quarter in December 2018.
“We are pleased with the quality and value of the Project’s rough diamonds, and our efforts have shifted to increasing the volume of material being processed, and the inclusion of all size fractions up to 40.0mm moving forward”, commented Diamcor CEO, Dean Taylor. “Initial processing of material in all size fractions is meeting Company expectations, and we look forward to the potential that the processing and incorporation of the larger material may have on our overall dollar per carat and the potential recovery of any larger rough diamonds,” he added.
As previously announced, revisions completed to the crushing and screening systems at the in-field screening plant were aimed at the improved liberation and removal of fines through added crushing to support increasing volumes and allow for the inclusion of all size fractions up to 40.0mm in the long-term. An additional 30 ton per hour dense media separation plant was incorporated into the Project’s large diamond recovery circuit to provide greater efficiencies and added processing capacity, and this item is now operational. The majority of material previously being processed at the Project consisted of material under 15.0mm in size, with material above that size fraction being stockpiled. Given that much of this larger material consists of calcretized balls of higher-grade basal material, the crushing, treatment, and inclusion of this material in the +15.0mm to -40.0mm size fractions has the potential to have a positive impact on the overall size frequency distribution of the rough diamonds recovered, while also providing the Company with the potential to recover any larger diamonds from the Project.