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BHP World Exploration Inc. To Evaluate The Possibility Of Entering Into a Joint Venture Agreement With Tahera On The Ranch Lake Kimberlite / Ice Claims |
04/26/2001 |
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Tahera Corporation's diamondiferous Ranch Lake kimberlite is located on the Ice Claims approximately 75 kilometers northwest of the Ekati Diamond Mine. Kennecott recently relinquished its interest in the Ice Claims to Tahera, but maintained a 1% gross royalty based on future diamond production from kimberlites discovered on the claims before April 23, 2001.
BHP Signs Confidentiality Agreement to Review Ranch Lake Kimberlite / Ice Claims Data
Tahera is pleased to announce that it has signed an agreement with BHP World Exploration Inc. that gives BHP the right within 45 days to review the Ranch Lake kimberlite / Ice Claims data and to advise Tahera whether it wishes to enter into a joint venture agreement whereby BHP may earn a majority equity interest in the Ice Claims.
Ranch Lake Kimberlite, Ice Claims
The large tonnage Ranch Lake kimberlite pipe was discovered in 1993. Kennecott estimated that this large pipe contains approximately 40 million tonnes of kimberlite to a depth of 350 meters. A small mini-test sample extracted in 1993 indicated that the Ranch Lake kimberlite is diamondiferous (5.3 carats derived from 28 tonnes), but the grade, distribution and quality of diamonds are very weakly defined. Tahera is encouraged by the fact that only a small kimberlite sample has been extracted, and its grade may not be representative of the grade of the entire kimberlite.
The common shares of the Company trade on The Toronto Stock Exchange under the symbol "TAH".
Tahera Corporation is focused on exploring its highly prospective landholdings in Nunavut and the NWT. In conjunction with this diamond exploration focus, Tahera is committed to bringing its wholly owned Jericho Diamond Project to commercial production. Tahera also has interests in extensive joint venture exploration landholdings in Nunavut and the NWT.
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
Web site:www.tahera.com
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