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Tahera Diamond Corporation – Exploration Update |
09/21/2004 |
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Tahera Diamond Corporation announces that it has concluded its summer exploration program. The program included drilling on the Jericho Claims and the Polar Project as well as ground and airborne geophysics, aerial photographs, and till sampling. A regional exploration program was also completed.
The Jericho Claims exploration program was designed to test kimberlite targets in close proximity to the Jericho Diamond Project. Further delineation, sampling, and exploration of the diamondiferous Bird Lake dyke system was conducted, and testing of new exploration targets in the area was also completed. Three of the six drill holes in the Bird Lake dyke area intersected kimberlite extending the inferred strike length of this dyke system to 300 metres (see October 20, 2003 press release for previous Bird Lake dyke results). The average intercept width was 4.48 metres (range from 0.7 metres – 10.77 metres). The steeply-dipping Bird Lake dyke system remains open to the northwest and at depth. In total, 11 drill holes were completed on the Jericho Claims, totaling 466 metres. The remaining Jericho Claims drilling did not intersect kimberlite. Promising kimberlite indicator mineral trains in this area remain unresolved. Caustic fusion analysis will be conducted on the new kimberlite intercepts from the Bird Lake dyke system to further assess its diamond potential.
The Polar Group exploration program was the first program undertaken since Tahera entered into an agreement with De Beers on the property in early 2004. The program was designed to locate and investigate exploration targets for upcoming programs, as well as drill test targets within several priority areas. Nine exploration drill holes were completed on the Polar Group, totaling 339 metres. These drill holes further delineated and sampled the previously discovered Voyageur kimberlite and tested seven exploration targets. Kimberlite was recovered from only one drill hole; an angled hole which intercepted 33.5 metres of the Voyageur kimberlite and was terminated in kimberlite due to technical difficulties. This core will be sampled and analyzed by caustic fusion and geochemical methods to better understand the diamond distribution of the body.
Target scale ground magnetic and gravity surveys, till sampling to confirm indicator trains and geochemical signatures, and regional ground gravity surveys were also undertaken over several high priority areas of the Polar leases. The regional gravity surveys covered over 15,100 acres, and further geophysical surveys are planned here in 2005.
Due to weather and logistical issues, most of the Rockinghorse exploration program was delayed until the winter program, however, air photo collection and a till sampling program were conducted during the summer. The winter program will provide better conditions for drill testing both lake and land-based targets, and further assessment of the Anuri kimberlite.
The summer program also included a regional exploration component that was designed to define new areas for diamond exploration. Approximately 600 samples were collected from 6 different areas. Based upon results and analysis of 2003 sampling data, two new claim groups were staked encompassing more than 100,000 acres. The till samples collected during the 2004 summer program will be processed during the balance of the year, with the results being available for the 2005 exploration programs.
Tahera believes that it has excellent potential to discover additional kimberlites on its highly prospective exploration properties, and the Company’s regional exploration efforts will continue to generate new diamond exploration projects.
Mr. Eugene Flood, P. Geol., is Tahera’s qualified person for its exploration programs.
About Tahera Diamond Corporation
Tahera Diamond Corporation (www.tahera.com) is a unique Canadian diamond Company focused on developing its wholly-owned Jericho Diamond Project as CANADA'S NEXT and NUNAVUT'S FIRST DIAMOND MINE. Tahera has several other very prospective diamond projects in Canada's prolific Slave Craton. Tahera is well financed with over $12 million cash on hand. The common shares of the Company trade on the TSX under the symbol 'TAH'.
Tahera Diamond Corporation
R. Peter Gillin – Chairman and CEO
Grant Ewing – Executive Vice President, Corporate Development
Investor Relations:
Tel: (416) 777-1998 Fax: (416) 777-1898 Toll free: (877) 777-2004
Email: investor_relations@tahera.com
Website: www.tahera.com
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