LAC DE GRAS, Northwest Territories The original feasibility study done by SRK CONSULTING in 2000 for the Jericho diamond project has been updated by SRK, and property owner TAHERA CORP. is pleased with the results. It expects to put the deposit into production during 2005. The plan is to recover 2.4 million ct by open pit, followed by underground development to reach another 673,000 ct of diamonds.
The latest feasibility study lists a total resource of 7.1 million tonnes at 0.84 ct/t, and the mineral reserve is 2.6 million tonnes at 1.2 ct/t. The diamond valuation is estimated to be US$81/ct, compared with operating costs of Cdn$56/ct. Mine life will be at least eight years.
Tahera expects to spend a total of $65.4 million to develop the mine. The open pit, dense media separation plant, ancillary facilities, etc., will cost $52.7 million. Underground development will be another $8.7 million. Contingency and other costs are included in the total. The company's web site at www.tahera.com contains complete details and a timeline for the project.