Vancouver The first batch of diamonds has been produced at the newly constructed Jericho mine in Nunavut, though the number and value won’t be known until operator Tahera Diamond (TAH-T) sells its first parcel of stones sometime in the first quarter.
Tahera recovered the stones from a test-batch of kimberlite fed through the processing plant in late January. Commissioning of the plant is ongoing and production will be ramped up toward its production rate of 2,000 tonnes per day by the end of March.
The Jericho mine is scheduled to achieve commercial production in April, however first-quarter operating results released in May should provide some details on sales and production during the start-up phase.
The open-pit mine near Contwoyto Lake has an initial life of eight years, based on a defined reserve of 2.6 million tonnes averaging 1.2 carats per tonne. The mine life has potential to be extended if underground mining is deemed feasible for additional resources not yet classed as reserves.
The Jericho projects hosts resources (including reserves) of 5.5 million tonnes averaging 0.85 carats per tonne.
Tahera has other kimberlite targets in the region and recently launched an evaluation program at its Muskox kimberlite. This program will include the extraction of a large-diameter-drill sample and about 5,000 metres of core delineation drilling.
Results are expected to provide the company with sufficient information to assess the diamond-grade potential and diamond-value potential of the MKU-A unit of the Muskox pipe by the third quarter.
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