StockGuru Shines its Spotlight on Diamcor Mining Inc. (TSX-V: DMI; OTCQX: DMIFF) Upon Announcement of Preliminary Updates for Upper Zone and Basal Zone Gravels — October 12, 2011

StockGuru Shines its Spotlight on Diamcor Mining Inc. (TSX-V: DMI; OTCQX: DMIFF)  Upon Announcement of Preliminary Updates for Upper Zone and Basal Zone Gravels — October 12, 2011

(Dallas, TX. – October 12, 2011) StockGuru Shines its Spotlight on Diamcor Mining Inc. (TSX-V: DMI;  OTCQX: DMIFF).  The Company announced yesterday that preliminary updates for the Upper Zone and Basal Zone gravels based on the results of the initial drilling efforts which have been completed as part of the recommended drilling programme underway at the Company’s Krone-Endora at Venetia Project (the “Project”). The Company closed on October 11, 2011, at $0.3945, trading in a fifty-two week range of $0.62 – 0.29.

The initial drilling efforts were completed on 469 targets, as previously announced, and were aimed at better defining the location, extent and thicknesses of the Upper Zone and Basal Zone gravel units both within the areas initially explored by De Beers and within additional surrounding areas of the Project.    The data collected from the drilling programme was also used to assist in the determination of areas for the Company’s planned move to bulk sampling which is the next phase of the recommended work programme. The recommended bulk sampling efforts are designed to test these gravel materials in the various areas for the presence of diamonds and to determine the grade of those materials.

The results of the initial drilling efforts completed were subsequently modeled by the Independent Qualified Person using Datamine modeling software to estimate new tonnage values for the Upper Zone and Basal Zone gravels, and to provide an update on the gravel tonnage estimates which were originally reported in the initial NI 43-101 Technical Report (the “Technical Report”) filed by the Company on July 30, 2009.  The original gravel tonnage estimates in that Technical Report were based solely on areas of the Project comprised of approximately 307 hectares on which De Beers had previously performed initial exploration work.  As part of the recommended drilling programme undertaken, the Company performed tighter spacing in-fill drilling on the previously explored areas to better define the locations and depths of the gravel material in those areas.  The Company also completed additional drilling on targets in the areas immediately surrounding these previously explored areas in order to determine the potential extension of the gravel material into these surrounding new areas.  The combined efforts of all drilling to date now cover an area of approximately 540 hectares.

Data from the initial drilling efforts completed by the Company was able to confirm the DeBeers’ tonnage estimate for the Upper Zone gravels, the total of which increased by a modest 0.7% from the 2009 estimate, mainly due to a new, and more accurate lower average density calculation.  The tonnage estimate for the Basal Zone gravels, however, increased by a substantial 97.5% from the 2009 estimate, due to the extension of the Basal Zone area to the east, north and west of the original zone defined by the initial exploration work previously completed by De Beers.  A summary of the previously filed gravel tonnage estimate totals, along with the updated gravel tonnage estimates, and differences between the two, appears below (see Table 1).

Property Areas Total 2009 Total 2011 Difference % Diff
Total surface of area investigated (Ha) 306.75 539.75 233.00 76.0%
Upper Gravels
Total surface area covered with gravel (Ha) 306.75 361.63 54.88 +17.9%
Average gravel thickness (m) 6.53 5.90 -0.63 -9.6%
Total gravel volume (m3) 20,039,219 21,247,387 1,208,168 +6.0%
Average density (t/m3) 2.20 2.09 -0.11 -5.0%
Total tonnes 44,086,282 44,407,038 320,756 +0.7%
Basal Gravels
Total surface area covered with gravel (Ha) 141.11 269.88 128.77 +91.3%
Average gravel thickness (m) 3.29 3.4 0.11 +3.3%
Total gravel volume (m3) 4,623,087 9,089,730 4,466,643 +96.6%
Average density (t/m3) 2.20 2.21 0.01 +0.5%
Total tonnes 10,170,790 20,088,303 9,917,513 +97.5%

Table 1 – Updated Gravel Tonnage Estimate Summary

The foregoing values relate solely to the identified gravel material and appropriately do not include any estimates as to grade or any mineral resources at this time.  The grade values reported in the Technical Report in respect of the areas previously explored by De Beers cannot be applied to the additional gravel tonnages identified by Company’s initial drilling efforts, as grade values for this additional gravel tonnage will only be established after the Company completes the recommended bulk sampling programme in respect of that additional tonnage.

In addition to the initial 469 targets used in calculating the updated gravel tonnage estimates, drilling efforts are continuing on various additional targets as part of the finalization of the initial recommended drilling programme, as previous drilling results have indicated that the identified gravel material deposit is still open to the south-east, north-west, and west.  Additional drilling is being completed on targets within the De Beers Venetia Mine security fence on the south-east portion of the initial area of interest, and on targets to the west and north-west of the initial area of interest.  These drilling efforts are expected to be completed prior to the end of October.

Using the data from the initial drilling completed, the Company has select several areas (see Figure 1) for its planned upcoming recommended bulk sampling programme.  This recommended bulk sampling programme is also designed as a further extension of the work previously completed by DeBeers, and is aimed at providing further information on grades in the various current and extended areas of the Project, as well as a current average dollar per carat value estimate for the Project.  As noted in previous news releases, extensive site preparations and the delivery of equipment to support the Company’s planned move to the recommended bulk sampling programme are also well underway.

“We are very pleased with the significant increase in the estimate of the Basal Zone gravels given these are the type of gravels which have been identified as potentially higher grade zones in previous work completed on the Project,” commented Company CEO Dean Taylor.  “These results demonstrate the potential for added growth in the Project, and our efforts are now centered on completing the drilling of the remaining targets in conjunction with the finalization of various preparations in anticipation of our planned move to the recommended bulk sampling programme,” added Mr. Taylor.

The combined drilling and bulk sampling programmes are designed to support the filing of a new updated and current NI 43-101 Technical Report for the Project in the coming months, to support the Company’s planned move to the recommended trial mining exercises in the short-term, and to assist the Company in arriving at final production decisions for the Project.

Strategic Tiffany & Co. Alliance:

As announced on March 29, 2011, the Company has established a long-term strategic alliance and first right of refusal with 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.  As previously announced, Tiffany & Co, provided the Company with substantial 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.  Originally founded in 1837, the Tiffany’s name is now globally recognised as one of the premier luxury jewellery and specialty retailers in the world.  Through Tiffany & Co. and various other subsidiaries, the company is engaged in product design, manufacturing, and retailing activities on a global basis.  As of January 31, 2011 Tiffany & Co. operates approximately 233 retail stores and boutiques in the Americas, Japan, Asia-Pacific, and Europe and engages in direct selling through internet, catalog and business gift operations.  For additional information on Tiffany & Co., please visit their website at

About Krone-Endora at Venetia:

On February 28, 2011, Diamcor successfully acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited.  The Project consists 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.  De Beers previously completed various exploration efforts on initial areas of interest comprised of approximately 307 hectares, a summary of which was reported in an initial Independent NI 43-101 Technical Report filed by the Company on July 30, 2009.  The deposits which occur on the properties of Krone and Endora have been identified as a rare, higher-grade “Eluvial” basal deposit which is covered by a lower-grade upper “Alluvial” 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 an estimated combined 1,000 m (1 km) 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 15.0 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.

About Diamcor Mining Inc:

Diamcor Mining Inc. is a fully reporting publically traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI, and on the OTC QX International under the symbol DMIFF.  The Company has a well-established operational and production history in South Africa, and extensive experience supplying rough diamonds to the world market.  Rather than exposing itself to the high risks and costs associated with exploration, the Company’s focus is on the identification, acquisition, and operation of diamond projects with near-term production potential such as the Krone-Endora at Venetia Project.  For additional information on Diamcor, please visit our website at

Qualified Person Statement:

Mr. James P. Hawkins (BSc., 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, Geologists, and Geophysicists of Alberta (“APEGGA”).  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.

Phone:  (250) 864-3326

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.


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.


To view this StockGuru Spotlight, please visit:

To get free alerts on this and other similar stocks, please register here:

What is the StockGuru Spotlight?

Many companies covered in The StockGuru Spotlight have positive increases in both volume and share price. While this is not true in all cases, StockGuru strives to cover companies in The StockGuru Spotlight that are worth of our readers’ attention.

StockGuru looks for potential break-out candidates in The StockGuru Spotlight.  Many of these companies have had recent news and appear to be getting the attention of investors. StockGuru does not typically feature companies in The StockGuru Spotlight that are compensating StockGuru for this coverage.  There are times when StockGuru covers a stock in The StockGuru Spotlight that had previously compensated Stockguru. Where that is the case, a proper disclosure is included below.   StockGuru and its partners, employees and writers never hold shares, short positions, warrants or any other current position in a stock featured in The StockGuru Spotlight.

To feature a company in The StockGuru Spotlight please contact the Publisher at  If our reader is a key person for a publicly traded company, StockGuru can consider that company for either a StockGuru Spotlight or a StockGuru Profile.  Please contact the StockGuru Publisher John Pentony at this email address: (“SG”) provides its members with the latest news, press releases, and trade alerts for all the companies highlighted on the site SG utilizes information believed to be reliable herein prepared all material. The information contained herein is not guaranteed by SG to be accurate, and should not be considered to be all-inclusive. The owner, publisher, editor and their associates are not responsible for errors and omissions.  SG encourages readers and investors to supplement the information in these reports with independent research and other professional advice. All information on featured companies is provided by the companies profiled, or is available from public sources and SG makes no representations, warranties or guarantees as to the accuracy or completeness of the disclosure by the profiled companies or the information contained herein. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. SG is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on or mentioned herein.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected”, “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and SG undertakes no obligation to update such statements. StockGuru is occasionally compensated for coverage.  When this is the case, SG clearly indicates this with a disclosure of all compensation received in the past and present.  Additionally SG also discloses any anticipated compensation in the future.  Compensation is typically in cash.  Sometimes a company pays SG in restricted shares. Pentony Enterprise and its associated companies does not take free trading shares for any reason at anytime. StockGuru is not a registered investment adviser or a broker-dealer. StockGuru makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person, or that an investment in such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk.

John Pentony, Publisher,

Tel: +1 469 252 3031