TORONTO, Feb. 6 /CNW/ - Tahera Corporation is very pleased to announce that the Nunavut Impact Review Board (NIRB) has recommended the approval of the Environmental Impact Statement (EIS) for the Jericho Diamond Project. The NIRB approval comes after a period of review as established under Article 12 of the Nunavut Land Claims Agreement. The review of the EIS culminated with Public Hearings, which were held from January 5 - 9, 2004 in three Nunavut communities.
The recommendation by the NIRB is provided in conjunction with terms and conditions, which Tahera will assess and, as necessary, work cooperatively with all stakeholders to fulfill requirements established under the NIRB recommendation as part of the permitting phase of approval. The NIRB will be making the terms and conditions of the recommendation available to all parties, including Tahera, in the coming weeks.
The NIRB approval represents a major milestone regarding development of Tahera's Jericho Diamond Project as Nunavut's first diamond mine. The NIRB recommendation has been forwarded to the Minister of Indian and Northern Affairs for federal approval.
Jericho Diamond Project
Tahera is focused on developing its wholly-owned Jericho Diamond Project as Nunavut's first diamond mine. The Jericho Diamond Project feasibility study indicates robust economics for a diamond mine centered on the land-based Jericho kimberlite. Tahera is targeting completion of both permitting and project financing initiatives during 2004, and plans to advance the Jericho Project to commercial production as quickly as possible. When in production, Tahera will be one of only two Canadian public companies with production from a Canadian diamond source and unique in owning 100% of its mine.
About Tahera Corporation
Tahera Corporation (www.tahera.com), a unique Canadian diamond Company, is focused on developing its wholly-owned Jericho Diamond Project as CANADA'S NEXT and NUNAVUT'S FIRST DIAMOND MINE. Tahera has several other prospective diamond projects in Canada's prolific Slave Craton. The common shares of the Company trade on the TSX under the symbol 'TAH'.
/For further information: Tahera Corporation, Grant Ewing - Executive Vice President, Tel: (416) 777-1998, Fax: (416) 777-1898, Toll free: (877) 777-2004, Email: investor_relations(at)tahera.com/