|
|
|
Agreement with Tahera on Tenacity South Property, Nunavut |
01/27/2005 |
|
Download this Press Release
|
Strongbow Exploration Inc. (TSXV: SBW) and Tahera Diamond Corporation (TSX: TAH) are pleased to report that they have entered into an agreement that gives Tahera the option to earn a 63.75% interest in the diamond rights to Strongbow’s Tenacity South property. The property comprises approximately 5,500 hectares located adjacent to Tahera’s Hood River property that hosts the diamondiferous Tenacity kimberlite. The Tenacity South property is part of a parcel of Inuit Owned Lands in which Strongbow presently controls 100% of the mineral rights, subject to an agreement with Nunavut Tunngavik Incorporated (NTI), the owners of the land. Wolfden Resources currently retains an option to earn up to a 60% interest in the gold and base metal rights to the property as part of the Ulu South option agreement (Strongbow news release #04-14, September 15, 2004).
To earn a 63.75% interest in the Tenacity South property, Tahera must meet all ongoing tenure requirements for the property and complete the following exploration programs:
1. prior to July 31, 2005:
a. conduct ground geophysical surveys over at least three distinct kimberlite targets;
b. collect at least 50 till samples from the property; and
c. complete core drilling of at least one priority kimberlite target.
2. prior to March 31, 2009:
a. complete at least 2000m of NQ drilling (or equivalent); and
b. collect and process a mini bulk sample of 10 tonnes of kimberlite from a single kimberlite occurrence.
The effective date of the agreement is April 30, 2004. Tahera completed the ground geophysical and till sampling requirements during 2004 and results from 66 collected till samples are expected in early 2005. Planning is presently underway for a spring 2005 drilling program that will test at least one priority target on the property.
Strongbow Exploration Inc.
“D. Grenville Thomas”
President and CEO
Tahera Diamond Corporation
“R. Peter Gillin”
Chairman and CEO
For further information, please contact:
Strongbow Exploration Inc.
Ken Armstrong, Vice President Exploration
800-625 Howe St., Vancouver, BC, V6C 2T6
Tel: + 1 604 668 8355
Email: info@strongbowexploration.com
Tahera Diamond Corporation
Grant Ewing, Executive Vice President, Corporate Development
803-121 Richmond Street West, Toronto, ON, M5H 2K1
Tel: +1 416 777 1998 or toll free +1 877 777 2004
Email: investor_relations@tahera.com
The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy of this release.
|
|
|