AMN - SOUTH AFRICA: More water resources added to Venetia

Diamcor Mining reports the advancement of the Krone-Endora at Venetia project is progressing as planned with the completion of the first two, of four additional boreholes associated with the recently granted long-term Water Use Licence for the project.

With these additional water resources, it plans to increase the processing levels of all size fractions of material up to 45mm to test and evaluate the full targeted design capacity of its facilities, and to compile key data to assist the company in arriving at an initial production decision.

In February 2011 Diamcor acquired the Krone-Endora at Venetia project from De Beers Consolidated Mines consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5888 ha 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 ha of the project's total area.

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 an average total depth of less than 15 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.

www.diamcormining.com

News courtesy of International Mining