TAHERA CORP. has completed the final Environmental Impact Statement (EIS) for its Jericho diamond project at Contwoyto Lake, Nunavut Territory. The EIS represents a significant milestone in the Canadian mine development process, says the company. Review of the EIS will take at least 60 days.
The current feasibility study estimates that Jericho would produce 3.0 million carats over eight years. After a capital cost of about $55 million, the project would have an estimated gross revenue of between $326 million and $387 million. The study was predicated on a mining reserve of 2.53 million tonnes at 1.19 carats/t and total resources of 7.1 million tonnes at 0.84 carat/t. Plans call for both open pit and underground mining.
This year Tahera hopes to complete the permitting process and create a strategic alliance to finance the development. Last year the company presented a 2.2-carat round-cut diamond from the Jericho claims, the "Nunavut Stone", to the people of the territory as a symbol of a new emerging industry. It will join other native minerals and materials as part of the Territorial Mace.
Learn more about the Jericho project and Tahera's other diamond exploration activities at www.tahera.com