Shear Diamonds has announced the commencement of its spring drilling program at its 100% owned Jericho Diamond Project in Nunavut, Canada. The first drill hole within the Jericho open pit into the Jericho Kimberlite Complex has been completed and intersected more kimberlite than expected based on the past models.

As part of the ongoing exploration program, a series of six angled drill holes have been planned to test areas of the Jericho Kimberlite Complex where it is felt that additional data points are required.

Drilling is also underway on the second hole from the ice surface at the bottom of the open pit to test a contact in the Central Lobe on the kimberlite's west side.

"The goal for 2011 is to refine and augment the existing geological model for the Jericho Kimberlite Complex as well as discover new kimberlites nearby," said Shear President and CEO Pamela Strand. "The results from our first hole are extremely encouraging."

Shear currently has a portfolio of eight diamond projects, including three advanced projects with development potential. Shear bought the Jericho Mine from the now-defunct Tahera Diamond Corporation last year. The mine is estimated to contain some 375,000 carats of diamonds valued at C$24.5 billion.