The Area In Play:
Pure Gold Minerals Inc -
Ashton completes Buffalo Hills surveys
Pure Gold Minerals Inc PUG
Shares issued 33,724,033 1999-09-24 close $0.135
Monday Sep 27 1999
See Ashton Mining of Canada Inc (ACA) News Release
Mr. John Auston reports
The 1999 summer exploration program in Alberta was conducted over the Buffalo Hills/joint venture lands properties and the Cayo lands properties and consisted of heavy mineral sampling, ground magnetic and electromagnetic surveys and an airborne electromagnetic survey.
Buffalo Hills/joint venture lands
To further define drilling targets for winter 1999/2000, extensive heavy mineral sampling and geophysical surveys were carried out over a number of anomalous areas not related to any known kimberlite occurrences. Ground magnetic and electromagnetic surveys were completed over 40 targets, and approximately 400 heavy mineral samples were collected. Four new anomalies are scheduled for drilling, and additional targets may be defined after further interpretation of survey data. Further exploratory drilling of kimberlite BH225, discovered in February, 1999, is also planned for this winter. BH225 returned encouraging microdiamond results from a small sample as reported on April 28.
The Buffalo Hills and joint venture lands consist of five properties totalling 2.3 million hectares (5.7 million acres). To date, 32 kimberlites have been discovered, most of which contain diamonds. The joint venturers on the Buffalo Hills and joint venture lands are Ashton, Alberta Energy Company Ltd. and Pure Gold Minerals Inc. The interests of the parties upon completion of currently approved programs are expected to be Ashton 45 per cent; Alberta Energy 45 per cent; and Pure Gold 10 per cent.
Cayo lands
Heavy mineral sampling and ground magnetic surveys have so far revealed four anomalies which are scheduled for drilling this winter. In particular, Ashton is encouraged by two isolated circular anomalies on the Caribou Mountains property 120 kilometres north of the Buffalo Hills property. Down-ice of these anomalies, a till sample returned several hundred indicator minerals and a stream sediment sample contained a diamond with a maximum dimension of 0.75 millimetres. Detailed aeromagnetic surveys will be flown on the Cayo lands in October over other selected anomalies and additional winter drill targets may be generated.
The Cayo lands consist of four properties totalling 8.5 million hectares (21 million acres). The joint venturers on the Cayo lands are Ashton, Alberta Energy Company Ltd., and Pure Gold Minerals Inc. The interests of the parties upon completion of currently approved programs are expected to be Ashton 35 per cent; Alberta Energy 35 per cent; and Pure Gold 30 per cent.
All exploration programs are operated by Ashton under the direction of Brooke Clements, certified professional geologist, Ashton's vice-president, exploration.
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