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Third new kimberlite discovered on Tahera's Rockinghorse property |
09/20/2001 |
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Tahera Corporation is pleased to report that a third kimberlite has been discovered on its Rockinghorse Property since the current exploration program commenced in July 2001.
The Rockinghorse Property, located approximately 120 km northwest of Tahera's Jericho Claims, is held under the Tahera / Kennecott Canada Exploration Inc. joint venture. Kennecott, a member of the Rio Tinto Group of companies, is the operator of the joint venture. Pursuant to the joint venture agreement, Kennecott can earn a 62.5% interest in the property by funding all costs on discoveries up to and including a production decision.
The new kimberlite, named Qamutiik, is located approximately 9 kilometers northwest of the recently discovered Anuri kimberlites. Preliminary analysis of the Anuri kimberlite indicated that it is significantly diamondiferous.
The land-based Qamutiik kimberlite was intersected by two diamond drill holes. A vertical hole intersected kimberlite from 6 meters to 65 meters, and a second hole, drilled from the same site at a 50 degree angle, intersected 78 meters of kimberlite interspersed with 19 meters of broken granite. Caustic fusion analysis of the drill core will be performed at Kennecott's diamond laboratory in Thunder Bay, Ontario to determine the preliminary diamond content of the Qamutiik kimberlite.
The next stage of evaluation for both the Qamutiik kimberlite and the Anuri East kimberlite will be determined after the initial microdiamond results are analyzed.
Kennecott has completed an extensive airborne geophysical survey and a till sampling program in the area of the new kimberlite discoveries. Following analysis of results from the current program, the next phase of exploration for the Anuri kimberlite cluster area will be planned.
Tahera Corporation is focused on exploring and developing its highly prospective landholdings in Nunavut and the Northwest Territories. Tahera recently signed a Letter of Understanding with Kennecott Canada Exploration Inc. to joint venture its Jericho Claims, and Tahera has an existing joint venture with Kennecott on diamond exploration properties in Nunavut where the diamondiferous Anuri kimberlite was discovered. BHP Diamonds Inc. and Tahera are currently finalizing a joint venture on Tahera's ICE Claims in the Northwest Territories. 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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