The EIS will now face a minimum 60-day review period by regulators, followed by public hearings.
Tahera hopes to begin development in 2003.
The project consists of properties on the northwestern and northeastern shores of Contwoyto Lake, 26 km north of the Lupin gold mine and 420 km northeast of Yellowknife. Six kimberlites have been found so far.
The proposed Jericho mine centres on a land-based multi-phase pipe with a resource of 7.1 million tonnes grading 0.84 carat per tonne, equivalent to 5.9 million carats.
A June 2000 feasibility study by SRK Consulting concluded that a combined open-pit/underground mine could produce 3 million carats over a life of eight years, based on a probable reserve of 2.5 million tonnes grading 1.19 carats per tonne. A re-evaluation of the diamonds by WWW International Diamond Consultants in early 2000 indicated a value range of US$75-88 per carat.
Capital costs for the open-pit operation are pegged at $44.5 million, plus a further $10.4 million for underground and sustaining costs. Operating costs over the life of mine are projected at $52 per carat.
At presstime Tahera shares were trading around 23.
Be the first to comment on "Tahera tables Jericho EIS (February 03, 2003)"