Rockinghorse yields new kimberlite (June 05, 2001)

Exploration drilling has uncovered a new kimberlite body on Tahera‘s (TAH-T) Rockinghorse property, 100 km west of Hood River in Nunavut.

The kimberlite is called Amaruq. It was cut by eight diamond drill holes (totalling 549 metres) over a 1,400-by-600-metre area. It is interpreted as a shallow-dipping kimberlite sill that varies in width between 0.1 to 2.5 metres. Geophysical and drilling data suggest that it may extend to the southeast.

Microdiamond testing will be performed at Kennecott’s diamond laboratory in Thunder Bay, Ont. Results are expected in July.

Last year, the Nanurjuk kimberlite, which was discovered at the southern end of the Rockinghorse claims, proved to be barren.

The Tenacity kimberlite was also discovered last year on the Hood River property. It returned 211 microdiamonds and seven macros from a 558-kg core sample.

Rockinghorse lies about 120 km northwest of Tahera’s wholly owned Jericho diamond project. Rockinghorse and the nearby Hood River property are held by a joint venture between Tahera and Kennecott Canada Exploration, a subsidiary of Rio Tinto (RTP-N).

Kennecott can earn up to a 62.5% interest in the two properties by spending at least $25 million and making a development decision by 2008. The company is also responsible for a feasibility study, detailed engineering and the necessary permitting. Kennecott has budgeted $2.2 million for exploration on the two properties in 2001.

Following spring breakup in July, Kennecott plans to carry out more prospecting and drilling at Rockinghorse.