Additional tender delivered by Diamcor
According to Diamcor Mining announcement, the initial tender of 2,606.50 carats of rough diamonds recovered from resumed processing exercises at the Company’s Krone-Endora at Venetia Project, an additional 5,335.83 carats of rough diamonds were delivered prior to the end of October.
A total of 2,277.47 carats of these rough diamonds were recovered as part of planned refinements to the Project’s screening systems, and were sold for gross proceeds of USD $431,701.48, resulting in an average price of USD $189.55 per carat.
The majority of material processed consisted of smaller size fractions from the lower grade upper zone of the Project in order to test the refined systems’ ability to remove fines less than 1.0mm in size at higher volumes, and thus the recovery of larger diamonds was not expected in these materials.
The remaining 3,058.36 carats delivered were recovered from the subsequent processing of material which included the blending of larger, higher-grade basal material to perform planned refinements to the Project’s crushing circuit, and due to the inclusion of this material, this processing was expected to yield a higher number of rough diamonds in the 3 to 5 carat range.
The majority of processing completed has consisted of material less than 15.0mm, with material above that size fraction largely being stockpiled. The crushing, treatment, and inclusion of material in the +15.0mm to -40.0mm size fractions moving forward is expected to not only have a positive impact on the recovery of larger individual rough diamonds under 10.8 carats in size, but also now provide the Company with the potential to recover larger diamonds within those size fractions which would have previously been stockpiled.
The tendering of these rough diamonds will be completed in November 2018, which will be followed by an additional final delivery and tender of rough diamonds for the Company’s third fiscal quarter in December 2018.
The Company plans to increase processing volumes in the short-term while finalizing the installation of planned smaller paste thickener, which is expected to be completed in the first quarter of calendar 2019.
