BHP Billiton (BHP-N) has begun an exploration drilling program on Tahera‘s (TAH-T) ICE claims 350 km north-northeast of Yellowknife, and 75 km northwest of the Ekati diamond mine.
The majors’ plan includes four core holes, which will aim to test the central untested area of the Ranch Lake kimberlite pipe to depths of 150-200 metres.
At least two geophysical kimberlite targets on the surrounding ICE claims are also slated for drilling.
The Ranch Lake kimberlite was discovered in 1993. With an estimated resource of 40 million tonnes, the pipe has never been systematically tested. Initial drilling returned 38 micros and six macros from 208.1 kg of sample. A 28.45-tonne mini-bulk drill sample in 1994 yielded 112 diamonds weighing 5.38 carats, for an implied grade of just 0.189 carat per tonne. The pipe exhibits three main geological units, with apparent distinct diamond grades and stone frequency distribution.
BHP Billiton has the option to earn up to a 70% interest in Tahera’s ICE claims. It can earn a 60% stake in the claims’ four known kimberlites, including Ranch Lake, and up to a 70% interest in any new discoveries, by funding exploration and construction of the first diamond mine. The major must also collect a 200-tonne bulk sample on the Ranch Lake kimberlite by July 2003, to maintain its option.
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