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Kimberlite discovery on Roundrock property in the Northwest Territories |
04/10/2000 |
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TORONTO, April 10 /CNW/ - Tahera Corporation ('Tahera') is pleased toannounce that a new kimberlite has been discovered on the Roundrock property.The 19,400 hectare Roundrock property is located approximately 130 kilometreswest of the Ekati Mine. Ashton Mining of Canada Inc. ('Ashton') has a 53.30percent interest in the property and is the project operator. Tahera currentlyholds a 24.5% interest in the property, but has elected not to participate inthe 2000 exploration program, and will thus dilute its interest. Kimberlite was first discovered on the Roundrock property in 1996 whenAshton found the diamondiferous Aquila body. In April of this year, twoexploratory core holes were drilled into a nearby magnetic anomaly and eachintersected 20 metres of kimberlite in an apparently flat-lying body. Thekimberlite, named Cygnus, is capped by approximately 35 metres of granitebreccia containing veinlets of kimberlite, which in turn is overlain by 11metres of glacial overburden. Microdiamond testing of core samples from Cygnuswill be carried out at Ashton's laboratory in North Vancouver during thesecond quarter.
The program is continuing with the drilling of one additional magneticanomaly two kilometers to the north of Cygnus. Unexplained indicator mineraldispersion fans suggest that additional kimberlites are present on theproperty.
Tahera Corporation (TAH:TSE) is focused on bringing its wholly ownedJericho Diamond Project in Nunavut Territory to commercial production. Intandem with this development focus, Tahera will continue to explore its highlyprospective landholdings in close proximity to the Jericho kimberlite. Any newdiscoveries in the project area could enhance both the scale and economics ofthe Jericho Diamond Project.
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For further information: please contact: Grant Ewing, Vice President Investor Relations and Corporate Development, Tel: (416) 777-1998, Fax: (416) 777-1898, Toll Free: (877) 777-2004, Email: investor@tahera.com, www.tahera.com
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