Ashton Mining receives NWT mineral sampling results
Ashton Mining of Canada Inc ACA
Shares issued 29,230,665 Sep 20 close $0.50
Tue 21 Sept 99 News Release
Also Tenajon Resources Corp (TJS)
Also Silverarrow Explorations Inc (SVI)
Also Paramount Ventures & Finance Inc (PVF)
Also Pure Gold Minerals Inc (PUG)
Also Tahera Corp (TAH)
Mr. John Auston reports
Ashton Mining of Canada Inc. has completed its results from the 1999 summer
program in the Northwest Territories. The program consisted of heavy
mineral sampling and field investigation of geophysical anomalies on five
properties: Star, Roundrock, Cross, SYL, and Barry/GM. Initial results from
this program suggest that further work be carried out on the Star and
Roundrock properties in early 2000. Results from the rest of the properties
are still pending.
All exploration programs are operated by Ashton and under the direction of
Brooke Clements, certified professional geologist, Ashton's recently
appointed vice-president of exploration.
Star property
The Star property is approximately 180 kilometres southwest of the Ekati
mine and is 7,200 hectares in size. Recent sampling has confirmed that a
previously defined indicator mineral fan clearly originates from the
junction of three lakes and may indicate a new kimberlite. A ground
geophysical survey will be conducted over the lakes this winter with
drilling to follow. The indicator minerals on the Star property are of
similar composition to those recovered on the Cross property approximately
10 kilometres south, where the diamondiferous Orion, Ursa and Cross
kimberlites were discovered by Ashton between 1994 and 1996.
The joint venturers on the Star property are Ashton, Pure Gold Minerals
Inc. and Tenajon Resources Corporation. Pending confirmation of program
financing by its joint venture partners, Ashton's interest is 56 per cent.
Roundrock property
The Roundrock property is 130 kilometres west of the Ekati mine and is
19,400 hectares in size. Abundant indicator ininerals are present in
numerous discrete fans in the area where the diamondiferous Aquila
kimberlite dykes were discovered in 1996. The abundance of indicator
minerals present in the area is too difficult to explain on the basis of
the Aquila dyke system alone. Winter 2000 work will focus in this area and
will consist of ground geophysical surveys followed by the drilling of
favourable targets.
The joint venturers on the Roundrock property are Ashton Mining of Canada
Inc., Tahera Corporation, Pure Gold Minerals Inc., Paramount Ventures and
Finance Incorporated and Silverarrow Exploration Inc. Pending confirmation
of program financing by the partners, Ashton's interest is 51 per cent.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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