URANIUM – Kivalliq Energy Corp. Jan. 18 said it has hired SGS Mineral Services to carry out initial metallurgical studies on samples prepared from drill core generated during the 2009 program on the historical Lac Cinquante uranium deposit in Nunavut. Kivalliq reported in October, confirmation of the widths, continuity and high-grades previously reported for Lac Cinquante. Thirteen holes drilled in 2009 intersected significant near-surface uranium mineralization, over roughly 1 kilometer of strike. Assay highlights for the Lac Cinquante main zone include 2.06 percent U3O8 over 2.88 meters width. Historical documents note that in 1985, the Minerals Division of Abermin Corporation conducted a feasibility study to investigate mining and processing ore from Lac Cinquante. At the time, Abermin concluded that ore from this deposit could be processed at existing uranium facilities in Canada. Kivalliq intends to corroborate these findings with a new metallurgical test program carried out by SGS. “This metallurgical test work is an important step forward and will further demonstrate the potential at Lac Cinquante,” said Kivalliq president and CEO John Robins. “It will provide essential information on ore characteristics that will help us advance and develop this uranium deposit.”

DIAMONDS – Tahera Diamond Corporation and its wholly owned subsidiary, Benachee Resources Inc., Jan. 18 said they have received the necessary approvals to sell the Jericho Diamond Mine and all related milling, mining and exploration assets. Opened in 2006, the Jericho Diamond Mine was the first and only diamond mine in Nunavut. The mine produced a total of 786,000 carats of gem-quality diamonds, including more than 1,100 stones greater than 10 carats and one stone greater than 58 carats. Operations were suspended in June 2008, at the 100-meter mining level, due to financial and operating constraints and the facility was placed on care and maintenance. An updated resource estimate in September from the Central Lobe kimberlite pipe, above the 280-meter level, estimated indicated resources of 1.14 million metric tons grading 1.40 carats per metric ton with an addition 0.48 million metric tons grading 1.23 carats per metric ton in the inferred resource category. The Central Lobe remains open to depth. Inferred resources from kimberlite pipes located immediately adjacent to the Central Lobe were estimated to contain an additional 3.79 million metric tons grading 0.58 carats per metric ton. Tahera also has commissioned a new economic assessment – scoping study, which includes the updated resource estimate, from SRK Consulting, AMEC and Procon Mining and is available on the company’s Web site. Tahera said the sale process will begin immediately. Proposals are due by March 1. Final settlement of a purchase and sale agreement will occur during early March with a planned closing date of March 30. The companies will review all offers, whether on a going-concern, care and maintenance with later development, or on a salvage and equipment value basis.