A 5.36 carat green gem quality octahedron rough diamond was recovered recently by Diamcor Mining Inc. at its Krone-Endora at Venetia Project. The gem was found during the initial processing of material in the newly expanded facilities at the Project.

“The significance of this rough green diamond is currently uncertain. However given the rarity and potential high value of green diamonds, an analysis of this diamond will be performed over the coming weeks to aid the Company in determining the best course of action to take with respect to this diamond,” Diamcor said. 

Diamcor pointed out that in certain instances, radiation may cause the outer surface of rough diamonds to appear green in colour; hence, it had disregarded two similarly hued very small, lower quality rough diamonds previously recovered while testing and commissioning the Project. 

“However, given the larger size, quality, and shape of this rough diamond, the Company believes further analysis is warranted due to the relative rarity and value of green diamonds,” Diamcor elaborated. “While an initial analysis may provide some insight into this 5.36 carat green rough diamond, it is probable that the cutting and polishing of this rough diamond, at the Company’s discretion will be required to determine if the rough diamond retains its green colour throughout or if the green colouration is limited to the outer surfaces only.”

Accordingly, along with other rough diamonds recovered at the Project, the Company has shipped the5.36 carat green rough diamond to Antwerp.   

Earlier this month, the Company had announced the results of two initial tenders held   in the current quarter. Now, Diamcor plans to hold the final tender of the current quarter before the end of June 2017, of the rough diamonds sent to Antwerp, excluding the 5.36 carat green rough diamond. 

The current combined testing, commissioning, and calibration exercises are being undertaken “to support the continued advancement of objectives” as filed by the Company in its Technical Report and “to aid the Company in arriving at initial production decisions for the Project”, Diamcor said.