About 276 kg of kimberlite core from the newly discovered Anuri kimberlite on Tahera‘s (TAH-T) Rockinghorse property in Nunavut has yielded 434 diamonds measuring more than 0.15 mm in one dimension.
Processing at Kennecott Canada Exploration’s Thunder Bay diamond laboratory returned 156 diamonds larger that 0.5 mm in one dimension. Thirty diamonds did not pass through a 0.5-mm square mesh sieve and four did not pass through a 1-mm square mesh sieve.
Another 370 kg of core from the kimberlite remains to be processed.
Kennecott recently staked more property in the area and plans to conduct additional exploration in the immediate area during August and September, including airborne and ground geophysical surveys and exploration drilling. Kennecott may collect a bulk sample in early 2002 to assess the diamond grade and value of the Anuri kimberlite.
The Rockinghorse property lies about 120 km northwest of Tahera’s Jericho diamond project. Under a revised joint-venture agreement, Kennecott (a division of Rio Tinto [RTP-N]) can earn an initial 25% interest in the Rockinghorse and Hood River properties by spending $25 million on exploration by 2008. Kennecott can earn up to a 62.5% stake by funding all costs up to, and including, a bankable feasibility study. The company has spent more than $18 million to date and has budgeted a further $2.2 million for 2001.
Earlier this summer, drilling by Kennecott uncovered Anuri near the head of the prominent Tak Lake kimberlite indicator mineral train. Angled at 45, the discovery hole intersected 134 metres (true width) of kimberlite from 71.4 to 260.7 metres down-hole.
Anuri is the second kimberlite found this year at Rockinghorse. In the spring, Kennecott cut a shallowly dipping kimberlite sill with eight widely spaced holes over an area measuring 1,400 metres by 600 metres. The sill varies in width between 0.1 and 2.5 metres. Microdiamond results are pending.
On the financial front, Tahera has completed a private placement of 8.3 million units at 18 apiece for gross proceeds of $1.5 million. Each unit comprises one flow-through share priced at 17 and one purchase warrant priced at 1. Each warrant is exercisable at 25 per share for two years. The proceeds will be used to fund ongoing exploration programs.
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