Recently, Diamcor Management Discussion & Analysis that published for the Interim Period Ended December 31, 2024. That report also focussed on Core Business and Strategy! In the row they said, Diamcor has a long-established operating history, key strategic relationships within the diamond industry globally, extensive knowledge of various diamond mining opportunities, and is currently developing the Krone-Endora at Venetia project it acquired from De Beers.
The Company’s key focus is on the further development of Krone-Endora Project, and the future identification and development of diamond related properties which demonstrate the potential to generate near-term and sustained non-conflict natural rough diamond production and/or positive cash flow while minimizing shareholder dilution.
The Company advanced this strategy by successfully being selected to acquire the Krone-Endora at Venetia project from De Beers Consolidated Mines Limited. When acquired, the Krone-Endora at Venetia project consisted of the prospecting rights over the farms Krone 104MS and Endora 66MS with a combined surface area of approximately 5,888 hectares directly adjacent to De Beer’s flagship Venetia Diamond Mine in South Africa.
The deposits which occur on the properties of Krone and Endora have been identified by De Beers as both, an upper colluvial deposit, as well as a lower / basal alluvial deposit, both of which are proposed to have originated from the higher grounds of the adjacent Venetia kimberlites, with the full extent to which these deposits occur over the entire area of the Project yet to be determined.
De Beers previously completed exploration efforts on an initial area of interest comprised of approximately 310 hectares of the properties, the results of which were reported in an initial Independent National Instrument 43-101 Technical Report (the “Initial Technical Report”) which was filed by the Company in conjunction with the acquisition.
The Initial Technical Report provided an inferred resource estimate of 54,258,600 tonnes of diamond bearing gravels, and 1.3 million carats of diamonds for the 310-hectare area of interest in that report. The Initial Technical Report also noted that based on the previous work programs and evaluation completed to date by De Beers and the Company, an estimated 1,000m, or 1 vertical km, of material was shifted and eroded off the kimberlites of Venetia onto the lower surrounding areas including those of Krone and Endora, with the full extent of the materials deposited on the properties of Krone and Endora yet to be determined, which remains a primary focus of the Company’s efforts currently underway.
The Company’s initial efforts have been focused on key areas of interest defined by the previous work and estimates outlined in the Initial Technical Report, and specifically on the K1 area of the Project, the establishment of infrastructure and equipment required to support the Project for the long-term, the completion of previous and ongoing drilling, trial mining, and bulk sampling efforts aimed at better defining the location and extent of material on the Krone and Endora properties, and the finalization of work required to support the filing of an updated Independent National Instrument Technical Report.
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