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.' data-reactid="19">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 a publically traded company which is listed on the New York Stock Exchange under the symbol TIF. 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. DTaylor@diamcormining.com Tel (250) 864-3326 www.diamcormining.com 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.
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Diamcor Mining Inc
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PRODUCER |
CODE : DMI.V |
ISIN : CA2525312070 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Diamcor Mining is a diamonds exploration company based in Canada. Diamcor Mining holds various exploration projects in Canada and in South Africa. Its main assets in production are SO VER and LENA / SCHULLER MINE in South Africa and its main exploration properties are KRONE-ENDORA and DOORNKLOOF in South Africa and SOBEL LAKE and MERRY WIDOW in Canada. Diamcor Mining is listed in Canada. Its market capitalisation is CA$ 2.5 millions as of today (US$ 1.8 millions, € 1.7 millions). Its stock quote reached its lowest recent point on November 24, 2006 at CA$ 0.03, and its highest recent level on November 01, 2013 at CA$ 1.90. Diamcor Mining has 49 700 000 shares outstanding. |