Tahera to Double Exploration Budget Next Year

Canadian diamond miner Tahera Diamond Corporation is to almost double its 2004 exploration budget next year to $6 million, focusing on the winter program.

The winter program, which will account for around half of expenditure, will include exploration on the Polar Project claims, a joint venture with De Beers, where exploration activities will focus on further evaluation of the economic potential of the Muskox kimberlite, and exploration for new kimberlites.

The Muskox kimberlite is just 14 kilometers west of the Jericho kimberlite. An evaluation program centered on the Anuri kimberlite is also planned during the winter program, as well as a regional exploration program in the area.

The 2005 summer program will include further exploration on the Jericho Claims, such as the Bird Lake Dyke system, and follow-up exploration on the winter program projects. Exploration will also be conducted on new properties bought this year.

Tahera aims to focus on increasing the diamond reserve base within an economic radius of its Jericho Diamond Project, as well as moving forward other important exploration projects.

Tahera says it is fully financed to complete construction of its Jericho project and aims to complete all permitting activities early next year and plans to start construction soon after.