(TSE:TAH)
TORONTO, Nov. 8 /CNW/ -
Jericho Diamond Mine Development Project
The Jericho Diamond Project, wholly owned by Tahera Corporation, islocated in the new Territory of Nunavut, approximately 420 km northeast ofYellowknife, NWT, and 170 km north of Ekati, Canada's first diamond mine.
Feasibility work to determine the economics of constructing the JerichoDiamond Project is continuing, and SRK Consulting and DRA Mineral Plant DesignEngineers are in the final stages of completing a pre-feasibility study forthe project. The Jericho Diamond Project is centered on the Jericho pipe, aland based kimberlite located 28 km northwest of Lupin Gold Mine (owned byEcho Bay Mines Ltd.). Subject to implementing the terms of a Facilities UseAgreement between Tahera and Echo Bay, Tahera plans to treat the Jerichokimberlite ore at a diamond processing plant and tailings facility to beconstructed at the Lupin Mine Site.
Exploration
Tahera's extensive landholdings in Nunavut Territory, encompassingapproximately 215,000 hectares, are subdivided into four main properties: theJericho Group, the Contwoyto Group, the Burnside Group, and the NorthernGroup.
Jericho Group
Three diamondiferous kimberlites (Jericho or JD-1, JD-2, and JD-3) havebeen discovered thus far on the 93,000 hectare Jericho Group. Tahera's 1999summer exploration program included a comprehensive quaternary and geologicalmapping program, and an extensive glacial till sampling program (351 tillsamples) over a large portion of the Jericho Group. In addition, 22 linekilometers of ground geophysical surveys were conducted over selected areas.
Previously known kimberlite indicator mineral dispersion trains werefurther delineated during the summer. Two priority target areas -- the JerichoWest area and the Bird Lake area -- have been selected for immediate follow-upduring the winter 2000 exploration program. These areas were chosen due to theabundance of kimberlite indicator minerals present, coupled with the fact thatthe target areas lie in close proximity to the Jericho kimberlite. Followingfurther analysis of the summer field data, specific targets will beprioritized for a ground geophysics program to commence in January/February2000, followed by an exploration drilling program centered on the definedtarget areas.
Tahera is focused on discovering additional kimberlites in closeproximity to the Jericho kimberlite to provide additional material for theproposed Jericho Diamond Project.
Contwoyto Group
The Contwoyto Group, encompassing approximately 54,000 hectares, lieseast and is contiguous to the Jericho Group. Tahera's 1999 summer explorationprogram included a comprehensive mapping program, and an extensive glacialtill and kimberlite float sampling program (899 till samples) over a largearea of the Contwoyto Group. In addition, 84 line kilometers of groundgeophysical surveys were conducted over selected areas.
An extensive kimberlite float train on the Contwoyto Group claims wasevaluated during the summer program. The kimberlite float train was extendedto 18 km in a north south direction and up to 3 km wide in places. Due to theabundance of kimberlite indicator minerals and kimberlite float mapped, theContwoyto area has been selected as a priority area for immediate follow-upduring the winter 2000 exploration program. Following further analysis of thesummer field data, specific targets will be prioritized for a groundgeophysics and drilling program in early 2000.
Contwoyto-1 Mini-bulk Sample
Tahera has completed processing the mini-bulk sample extracted from theContwoyto-1 kimberlite. The Contwoyto-1 pipe is located approximately 24 kmeast of the Lupin Gold Mine on the Contwoyto Group claims. The mini-bulksample program consisted of 9 vertical large diameter diamond drill holes,which produced 50.1 tonnes of kimberlite.
The kimberlite sample was processed at Tahera's 1 tonne per hour DMS(dense media separation) plant in North Vancouver using a square screen bottomcut-off size of 1.18 mm. In total, 13.60 carats were recovered from 50.1tonnes of kimberlite treated, for a preliminary diamond grade of 0.27 caratsper tonne. Four distinct units or phases, ranging in grade from 0.15 caratsper tonne to 0.48 carats per tonne are present in the kimberlite. Due to therelatively low grade indicated, Tahera does not plan further evaluation of theContwoyto-1 kimberlite at this time.
Burnside Group
The Burnside Group, encompassing approximately 30,000 hectares, liesnorth of the Contwoyto Group. A regional program of mapping and till sampling(391 till samples) was performed during the summer. Sample processing and datainterpretation are ongoing.
The summer exploration program ensured that all of the assessmentrequirements for the Jericho, Contwoyto, and Burnside Groups have been metuntil the end of 2001.
Kennecott Joint Venture
Kennecott Canada Exploration Inc. (''Kennecott'') is entering the fourthyear of a joint venture agreement with Tahera Corporation. Under theagreement, Kennecott can earn a 50% interest in three extensive properties(Ice Claims, Rocking Horse Property and the Hood River Property) located inNunavut and the Northwest Territories by making expenditures of $50 million by2008, of which approximately $14 million has been spent to date.
Kennecott discovered two new kimberlites during the 1999 explorationprogram -- the Vega kimberlite on the Ice Claims and the Altair kimberlite onthe Rocking Horse Property, bringing the total to seven kimberlites discoveredon the Kennecott joint venture properties. Preliminary caustic fusion analysisof both the Altair and Vega kimberlites suggests they are not economic, andfurther work is not planned on the kimberlites at this time.
The 2000 exploration program, budgeted at approximately C$2.5 million,will focus on target generation followed by drilling priority kimberlitetargets.
Roundrock Property Joint Venture
The 19,400 hectare Roundrock property, located 130 kilometers west of theEkati Diamond Mine, hosts the diamondiferous Aquila dyke system discovered in1996. Tahera Corporation has a 24.5% interest in the property. Ashton Miningof Canada Inc., as operator of the joint venture, conducted an explorationprogram focused on heavy mineral sampling and field investigation ofgeophysical anomalies in 1999. The winter 2000 exploration program willconcentrate on the area of the Aquila kimberlite, and will consist of groundgeophysical surveys and drilling of priority targets.
Tahera Corporation (TAH:TSE) is engaged in the exploration for anddevelopment of diamond deposits in Canada's Northwest Territories and Nunavut.
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For further information: Grant Ewing, Vice President Investor Relations and Corporate Development, Tel: (416) 777-1998, Fax: (416) 777-1898, Toll Free: (877) 777-2004, Email: investor(at)tahera.com, www.tahera.com
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