DIAMOND EXPLORATION: New model, more diamonds from Jericho project

NUNAVUT - Since buying the former Jericho diamond mine in the Kitimeot region in August 2010, Shear Diamonds of Toronto has been re-exploring the property in the hopes of reopening the mine. With a new geological interpretation and 3-D model of...

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NUNAVUT - Since buying the former Jericho diamond mine in the Kitimeot region in August 2010, Shear Diamonds of Toronto has been re-exploring the property in the hopes of reopening the mine. With a new geological interpretation and 3-D model of the Jericho Kimberlite Complex, the company is moving closer toward its goal.

Better yet, Shear has recovered the first 200 ct of salable diamonds from tests at the restarted recovery plant on site. The diamonds were recovered from the treatment of 22.1 wet tonnes of recovery reject and coarse processed kimberlite. Fourteen of the stones were greater then 0.5 ct, and the largest were 1.9, 1.0, and 0.8 ct.

"The recoveries are an important part of proving Jericho's real potential, and speaks to the lost grade from past operations. We are excited to see that the diamond recoveries from the recovery rejects tailings pile are in line with audits done by both Tahera and Shear," says Julie Lassonde, CEO and chair of Shear.

The Jericho Kimberlite Complex is interpreted to represent a series of pyroclastic kimberlite eruptions that were emplaced in a general south to north direction from two vents known as the South/Central and North lobes. Geologic complexity arises from the mixing of these events as well as the presence of remnants of interpreted earlier phases found in areas that were not identified by Tahera's previous geological model. The new model was created by Mineral Services Canada after analyzing historical drill data from 49 holes, and 851 thin sections and polished slabs.

Geostat Consulting Services, working with Mineral Services, created the new 3-D model.

Follow the progress of the Jericho project at www.ShearDiamonds.com.

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