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Anuri kimberlite confirmed diamondiferous |
08/03/2001 |
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Tahera Corporation is pleased to announce that the recently discovered Anuri kimberlite is diamondiferous. The Anuri kimberlite was discovered in July near the head of a prominent kimberlite indicator mineral train on the Rockinghorse Property in Nunavut.
The Rockinghorse Property, located approximately 120 km northwest of Tahera's Jericho Diamond Project, is held under the Tahera/Kennecott Canada Exploration Inc. joint venture. Kennecott is a member of the Rio Tinto group of companies. Pursuant to the restructured joint venture agreement, Kennecott, as the operator, can earn a 62.5% interest in the property by funding all costs on discoveries up to and including a decision to mine.
The discovery drill hole intersected kimberlite over an estimated true width of 134 meters. A second diamond drill hole drilled at approximately right angles to the first intersected kimberlite from 204 meters to 331 meters, for an approximate true width of 90 meters at approximately 150 meters depth.
Approximately 276 kilograms of kimberlite core has been processed at Kennecott's Thunder Bay diamond laboratory, resulting in the recovery of 434 diamonds measuring greater than 0.15 mm. Of these, 156 diamonds are larger that 0.5 mm in one dimension, 30 diamonds did not pass through a 0.5 mm square mesh sieve, and 4 diamonds did not pass through a 1 mm square mesh sieve.
Tahera is very encouraged by these preliminary results. Kennecott recently staked more property in the area, and plans to conduct additional exploration during August and September. This exploration program will entail airborne and ground geophysical surveys and exploration drilling in the immediate area.
Approximately 370 kilograms of core from the Anuri kimberlite remains to be processed. Following microdiamond analysis of this material and a review of the results of the additional exploration, the winter program will be finalized. Kennecott may elect to conduct a bulk sampling program in early 2002 to assess the diamond grade and value of the Anuri kimberlite.
Tahera Corporation is focused on exploring its highly prospective landholdings in Nunavut and the Northwest Territories. In conjunction with this diamond exploration focus, Tahera is pursuing various alternatives, including potential joint ventures, to develop its Jericho Diamond Project. Tahera also has interests in extensive joint venture exploration landholdings in Nunavut and the NWT. The common shares of the Company trade on the Toronto Stock Exchange under the symbol 'TAH'.
To find out more about Tahera Corporation (TSE: TAH), visit our website, www.tahera.com
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CONTACT: 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
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