Diamcor Mining Inc. (TSXV: DMI) – Initiating Coverage – Near Term Diamond Production Adjacent to South Africa’s Top Diamond Producing Mine; Growth Potential

Fundamental Research Corp. | October 4, 2010 | 7:24 am

Diamcor Mining Inc. is a TSX Venture listed junior mining company with an established operational history which is focused on acquiring quality near-term production based diamond projects. The company is currently focused on developing the Krone-Endora diamond project in northern South Africa which it is acquiring from De Beers Consolidated Mines Limited (“De Beers”)
The Krone-Endora project sits immediately adjacent to De Beers’ Venetia Diamond Mine. Initial NI43-101 compliant inferred resources at Krone-Endora stand at 54.26 million tonnes of diamond bearing gravels containing an estimated 1.31 carats of diamonds with growth potential.
The company has proven operational and diamond processing experience from previous South African diamond operations.
The company plans to commence trial mining at Krone-Endora by Q4 of 2010.
The company is targeting 15,000 carats per month within 12 months and a production rate of 500,000 carats per annum within 36 months.