I think that this is what the smart money is buying on as opposed to the most recent announcement of the new JV Kennecott pipe.
Exploration update from Tahera Corporation
(TSE: TAH)
TORONTO, March 29 /CNW/ - Tahera Corporation (''Tahera'') has completed a
preliminary delineation drilling program on the Contwoyto - 1 kimberlite pipe.
The Contwoyto - 1 pipe, one of four diamondiferous kimberlites discovered thus
far at Tahera's wholly owned Jericho and Contwoyto Diamond Projects in the
Northwest Territories (Nunavut on April 1, 1999), is located approximately 400
km northeast of Yellowknife.
Fourteen drill holes totaling 1,801 meters were drilled to determine the
shape of the pipe between 19 meters and 140 meters vertical depth, and the
kimberlite was probed to a maximum depth of 220 meters. The kimberlite pipe is
pear shaped and has horizontal dimensions of approximately 60 meters by 80+
meters, and appears to be open at depth. Differential GPS survey of drill
collars along with down-hole orientation surveys were used to accurately
locate drill holes and contacts. Specific gravity measurements from core
samples will be compiled to determine a tonnage factor for the kimberlite. All
of the above data will be used to determine the volume of kimberlite contained
within the Contwoyto - 1 pipe.
Additional caustic fusion analysis will be performed on representative
sections of the drill core as Tahera continues to evaluate the diamond content
of the Contwoyto - 1 kimberlite. The previously reported microdiamond results
from preliminary caustic fusion analysis of the discovery hole, drilled in
November 1998, returned 169 diamonds from 90.2 kg of core. Of the 169 stones
recovered, 26 stones measured greater than 0.5 mm in one dimension, and 12
stones measured greater than 0.5 mm in two dimensions.
The drill program will now focus on exploration targets in the immediate
Contwoyto - 1 area, followed by targets in the vicinity of the Jericho pipes.
Current plans call for ten to fourteen targets to be drilled in the program,
which is expected to continue until the end of April 1999.
Kennecott Joint Venture
Kennecott Canada Exploration Inc. (''Kennecott'') has commenced
exploration drilling on the Hood River property, located approximately 100 km
north of the Jericho Project. Drilling on the Ice Claims (approximately 80 km
south of the Jericho Project) and Rockinghorse properties (approximately 120
km northwest of the Jericho Project) is scheduled to commence in early April
1999. Approximately 30 - 35 kimberlite targets on the three joint venture
properties are scheduled for drilling during the current program, which is
expected to continue until early May 1999.
Kennecott is in the third year of the joint venture agreement that
entitles it to earn a 50% interest in the three properties by making
expenditures of $50 million, of which approximately $10.6 million has been
spent to date.
The Toronto Stock Exchange neither approves nor disapproves of the
information contained herein.
%SEDAR: 00003313E
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For further information: please contact: Grant Ewing, Vice President
Investor Relations and Corporate Development, Tel: (416) 777-1998, Fax:
(416) 777-1898, Email: investor@tahera.com, tahera.com |
