Photo by: Diamcor Mining
TORONTO (miningweekly.com) – Canadian diamond miner Diamcor Mining, which is focused on developing the Krone-Endora at Venetia project, in South Africa’s Limpopo province, on Wednesday revealed that it had recovered another gem-quality ‘special’.
The Kelowna, British Columbia-based firm said it had “incidentally” unearthed a 43.9 ct diamond while it was busy with the ongoing commissioning and testing exercises at the project.
Diamcor, which has a long-term strategic alliance and first right of refusal with Tiffany & Co Canada, a subsidiary of world famous jeweller New York-based Tiffany & Co, to buy all of the future output of rough diamonds from the project, had delivered the rough diamond to tendering facilities for initial evaluation and preparation for sale at an upcoming tender.
The diamond was expected to prove to be one of the higher-value rough diamonds recovered from the project to date.
Last October, the TSX-V-listed company sold its first large gem-quality diamond for $817 920 at auction.
The project is located a mere stone's throw away from the third-largest diamond mine in the world, De Beers’ flagship Venetia mine and its deposits had been identified as occurring as a result of the direct shift and erosion of an estimated one vertical kilometre of material from the higher adjacent grounds of the Venetia kimberlite pipes.
Diamcor noted that these testing recoveries and sales, did not form part of the initial National Instrument 43-101 technical report the company filed in July 2009.