Each Unit consists of one common share and one common share purchase warrant. Each common share purchase warrant ("Warrant") entitles the holder to acquire one common share for
The Company currently has 57,641,468 common shares outstanding. Assuming full take-up of the private placement there will be an additional 6,000,000 common shares for a total of 63,641,468 outstanding. On a fully-diluted basis after giving effect to the exercise of all outstanding share purchase warrants and incentive stock options granted under its stock option plan the Company would have 77,413,257 common shares outstanding.
The proceeds of the financing will be applied to exploration expenses related to the Company's property in the
Pricing of the units below
Talmora holds 211 mineral claims (68,784 acres) straddling the 68th parallel on the east side of the Lena West diamond area of the
Sampling on the Talmora property shows a strong correlation between KIMs in till samples and magnetic anomalies with characteristics of kimberlite pipes. The majority of
The Talmora property has been extensively lateritised which has destroyed silicate KIMs. However, samples collected in 2012 included a G-10 pyrope garnet and an eclogitic garnet that lies within the diamond inclusion field of the TiO2 vs Na2O diagram. This is the only G-10 garnet of 27 pyropes recovered to date on the Talmora property. The 3.7% G-10 garnets compares favourably with the 3.2% G-10 garnets found in the sample train down-ice of the highly diamondiferous Dharma kimberlite 180 km to the southeast at the northeast corner of
The 2012 field program included the use of a small Packsack drill which in 3 holes penetrated the glacial till and ended in clay. The clay has characteristics of weathered kimberlite and 14 anomalous spinel grains from one hole lie on a relatively narrow crystallization trend line indicating a single population with a nearby source. The same hole contains 1 picro-ilmenite and 12 Mn-ilmenites (or altered ilmenites) including 6 with diamond inclusion compositions.
The Talmora property must now be tested with a proper drill in order to obtain fresh kimberlite for microdiamond analysis.
The technical information contained in this release was compiled by
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Talmora, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Talmora's expectations are exploration risks detailed herein and from time to time in the filings made by Talmora with securities regulators.
FOR FURTHER INFORMATION PLEASE CONTACT:
Talmora Diamond Inc. Raymond DaviesPresident & CEO 416-491-6771 www.talmoradiamond.com Source: Talmora Diamond Inc.