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Todays NR:
Amalgamation to create Tahera Corporation effective
TAHERA CORPORATION EXPECTED TO BEGIN TRADING ON THE
TORONTO STOCK EXCHANGE ON TUESDAY MARCH 2, 1999
MAJOR EXPLORATION PROGRAM UNDERWAY
LYTTON MINERALS LIMITED NEW INDIGO RESOURCES INC.
(TSE/VSE: LTL) (ASE: NDR)
TORONTO, March 1 /CNW/ -
Amalgamation to Create Tahera Corporation Effective
The amalgamation of Lytton Minerals Limited (''Lytton'') and New Indigo
Resources Inc. (''New Indigo'') to create Tahera Corporation (''Tahera'')
became effective on February 28, 1999. Registered shareholders of Lytton and
New Indigo can exchange their shares for Tahera Corporation shares by
completing and signing the letter of transmittal which was previously sent to
all shareholders of both companies, and delivering both the letter and their
share certificates to Montreal Trust, at the address indicated on the letter
of transmittal.
Trading on Toronto Stock Exchange
The shares of Tahera Corporation are expected to begin trading on the
Toronto Stock Exchange under the symbol ''TAH'' effective Tuesday March 2,
1999.
Exploration Update
A winter exploration program at Tahera's wholly owned Jericho/Contwoyto
Diamond Project in the Northwest Territories is now underway. The initial
phase of the program will consist of delineation drilling on the recently
discovered Contwoyto - 1 kimberlite, followed by drill testing approximately
eight priority targets in the immediate vicinity of the new kimberlite.
Following the Contwoyto area exploration program, the drill will move to
the Jericho area, where three diamondiferous kimberlite pipes (JD pipes) have
been discovered to date. Ground geophysical surveys to define selected targets
will be followed by drill testing approximately ten of the priority kimberlite
targets in the Jericho area.
Approximately 800,000 hectares (2 million acres) of Tahera's land
position in the Northwest Territories are subject to a joint venture agreement
with Kennecott Canada Exploration Inc. (Kennecott). Kennecott will commence
its winter exploration drilling program on the Ice Claims, the Rockinghorse
property and the Hood River property in the second half of March 1999.
Approximately 30 - 35 kimberlite targets (4,500 meters of drilling) will be
tested in the exploration program that will run from March to May 1999.
Kennecott is entering the third year of the joint venture agreement that
entitles it to earn a 50% interest in the joint venture properties by making
expenditures of $50 million, of which approximately $10.6 million has been
spent to date.
Web site www.tahera.com
Effective March 2, 1999 visit Tahera Corporation's new web site at
www.tahera.com.
The Toronto Stock Exchange neither approves nor disapproves of the
information contained herein.
Regards |
