Rockinghorse yields new kimberlite (September 05, 2001)

Drilling by Kennecott Canada Exploration has uncovered another new kimberlite body on Tahera‘s (TAH-T) Rockinghorse property in Nunavut.

The new kimberlite, dubbed Anuri East, is situated immediately east of the Anuri kimberlite, which was discovered in July.

The Anuri East discovery hole was sunk at a 45 angle and cut kimberlite from 294 to 330 metres down-hole. Geophysics suggests that further drilling is warranted.

Drilling is planned for this winter. Caustic fusion analysis of the drill core will be performed at Kennecott’s diamond laboratory in Thunder Bay, Ont. It will determine the preliminary diamond content of the Anuri East kimberlite.

Anuri East is the third kimberlite found this year at Rockinghorse, which lies 120 km northwest of Tahera’s Jericho project.

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.

The Anuri kimberlite was discovered 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. Preliminary analysis of the Anuri kimberlite indicates that it is significantly diamondiferous.

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 budgeted $2.2 million for 2001.