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New Kimberlite Sill With Extensive Strike Length Discovered on Tahera's Rockinghorse Property |
06/05/2001 |
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Tahera Corporation is pleased to announce that a new kimberlite has been discovered on the Rockinghorse Property. The Rockinghorse Property and the Hood River Property, located approximately 120 km northwest and 100 km north of Tahera's Jericho Diamond Project respectively, are held under the Tahera / Kennecott Canada Exploration Inc. joint venture. Kennecott is a member of the Rio Tinto group of companies. Pursuant to the joint venture agreement, Kennecott has the option to earn up to a 62.5% interest in the properties by spending at least $25,000,000 and making a development decision by 2008. The development decision can occur only after a feasibility study, detailed engineering and necessary permitting has been completed by Kennecott, at its cost. Kennecott has budgeted $2,200,000 for exploration activities on the two properties in 2001.
The new kimberlite, named 'Amaruq', was intersected by eight diamond drill holes (549 meters). The drilling loosely defined a shallow dipping kimberlite sill that pinches and swells over an area of 1400 meters by 600 meters. The width of the kimberlite sill ranges from 0.1 meters to 2.5 meters. Based on geophysical and diamond drilling data, the region to the southeast holds the best potential for expansion of the known limits of the Amaruq kimberlite.
Microdiamond testing to determine if the Amaruq kimberlite is diamondiferous will be performed at Kennecott's diamond laboratory in Thunder Bay, Ontario. Results are expected in July 2001.
The 2001 exploration program will resume in July following the spring break-up. Kennecott plans to perform additional prospecting and drilling on the Rockinghorse property during the summer months.
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. 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
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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