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Tenacity Kimberlite Confirmed Diamondiferous |
08/16/2000 |
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Download this Press Release
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TORONTO, Aug. 16 /CNW/ - Tahera Corporation ('Tahera') is pleased toannounce that the 'Tenacity' kimberlite, recently discovered on its KennecottJoint Venture Property, is diamondiferous.
Three extensive Properties (Hood River, Rockinghorse and Ice Claims) inNunavut and the Northwest Territories are held under the Kennecott / TaheraJoint Venture. Under the agreement, Kennecott Canada Exploration Inc. can earna 50% interest in the properties by making expenditures of C$50 million by2008, of which approximately C$17 million has been spent to date. AccordinglyTahera has no immediate funding requirements.
Hood River Property
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The 'Tenacity' kimberlite is located approximately 110 kilometres northof Tahera's wholly owned Jericho Diamond Project, and in close proximity toEcho Bay's Ulu gold deposit. The kimberlite has a surface expression ofapproximately 80 by 100 meters.
Approximately 558 kilograms of kimberlite core sample have been processedat Kennecott's Thunder Bay laboratory, resulting in the recovery of 218diamonds measuring greater than 0.15 mm. Of these, 24 diamonds are larger than0.5 mm in one dimension. Seven (7) diamonds did not pass through a 0.5 mmsquare mesh sieve, and one (1) diamond did not pass through a 1 mm square meshsieve. These initial preliminary results indicate that the Tenacity kimberliteprobably does not have sufficient grade or size to be economic on a stand-alone basis. However, the extensive nature and excellent mineral chemistry ofthe kimberlite indicator mineral train emanating from the area of the Tenacitykimberlite indicates the strong exploration potential of the region.Kennecott's future exploration programs will focus on exploring for additionalkimberlites in the area.
The methods used to determine the diamond content are ISO/IEC Guide 25accredited.
Rockinghorse Property
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Microdiamond testing performed on the recently discovered Nanurjukkimberlite on the south end of the Rockinghorse Property returned no diamonds,however only 7.2 kilograms of material was processed.
Summer Program
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Kennecott plans to mobilize its summer exploration program next week. TheHood River exploration program will be focused in the area of the Tenacitykimberlite, and will include till sampling and geophysical surveys, leading tothe prioritization of future drill targets.
Drill targets have been outlined on the north end of the RockinghorseProperty, approximately 100 km west of the Hood River Property. The targetscoincide with a large kimberlite indicator mineral train that has excellentchemistry. At least two kimberlite targets will be drilled during the summerprogram.
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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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