Ashton Mining of Canada Inc.: K252 Mini-Bulk Sample
Returns Best Ever Alberta Results
VANCOUVER, BRITISH COLUMBIA--Robert T. Boyd, President and CEO of
Ashton Mining of Canada Inc. ("Ashton") is pleased to report that
the mini-bulk sample collected this fall from the K252 kimberlite
on the Buffalo Hills property has returned the most encouraging
results of the 35 kimberlites discovered in Alberta to date by the
Ashton-AEC-Pure Gold joint venture.
Background
Discovered in March 2000, the K252 kimberlite exhibits two
distinct phases: a fine- to medium-grained volcaniclastic
kimberlite and a kimberlite breccia. As reported on July 19 and
August 14, 2000, the initial microdiamond results from K252 ranked
among the best obtained from the Alberta program. A program of
further drilling was therefore completed in October 2000,
resulting in the collection of 1.45 tonnes of kimberlite from four
core holes. Because of difficult ground conditions at the contact
between the two kimberlite phases, most of the material was
collected from the volcaniclastic phase.
Diamond Results
A 1.28 tonne sample of volcaniclastic kimberlite processed through
the dense media separation plant at Ashton's North Vancouver
laboratory returned a total of 0.85 carats of diamonds larger than
0.8 mm using a square aperture screen. The largest diamond
recovered was a colourless composite crystal weighing 0.36 carat.
The estimated diamond content of this mini-bulk sample is 66.2
carats per hundred tonnes. Although derived from a small quantity
of material, these results confirm the presence of a population of
larger stones and substantiate the need to collect a larger
sample.
Ashton's laboratory also carried out microdiamond analysis on an
82.6 kg sample of volcaniclastic kimberlite and a 37.2 kg sample
of kimberlite breccia collected during the fall 2000 program. The
results of these tests are summarized in Table 1, together with
previously reported microdiamond results.
/T/
Table 1: Microdiamond Summary
Diamonds
---------------------
Micro Macro
(0.1- Greater than
0.5 mm) or equal to
Kimberlite Type Date Reported Sample Weight 0.5 mm (one
(kg) dimension)
--------------------------------------------------------------------
Breccia July 19, 2000 65.5 101 5 (Note 1)
--------------------------------------------------------------------
Volcaniclastic August 14, 2000 41.6 34 3 (Note 2)
--------------------------------------------------------------------
Volcaniclastic December 7, 2000 82.6 84 9 (Note 3)
--------------------------------------------------------------------
Breccia December 7, 2000 37.2 25 2 (Note 4)
--------------------------------------------------------------------
Total 226.9 244 19
--------------------------------------------------------------------
Notes
1. Three macrodiamonds measured greater than 0.5 mm in two
dimensions with the two largest stones measuring 2.35 x 2.19 x
0.63 mm and 1.68 x 1.49 x 1.25 mm.
2. One macrodiamond measured greater than 0.5 mm in two dimensions.
3. Five macrodiamonds measured greater than 0.5 mm in two
dimensions, with the two largest stones measuring 1.60 x 0.68 x
0.46 mm and 1.32 x 1.02 x 0.37 mm.
4. One macrodiamond measured 2.45 x 1.70 x 0.45 mm.
/T/
2001 Program
Ashton is very encouraged by the K252 diamond results and the
collection of a larger mini-bulk sample from K252 is being planned
for early 2001.
K252 was identified as a drill target by an airborne
electromagnetic (EM) survey and was further defined using ground
EM surveys, a gravity survey and seismic data. It is the first
kimberlite discovered in Alberta by the joint venture to date that
has a weak magnetic signature, unlike the previous 34 kimberlites
which display a sharp magnetic contrast against the surrounding
mudstone bedrock.
The association of weakly magnetic characteristics with high
diamond content in K252 has significant exploration implications
for the joint venture properties in Alberta. Ground geophysical
programs will consequently be conducted to define and prioritize
EM and seismic targets for drilling in the first quarter of the
year.
The joint venturers on the Buffalo Hills property and their
approximate interests are Ashton 45 percent, Alberta Energy
Company Ltd. (AEC.TSE) 45 percent, and Pure Gold Minerals Inc.
(PUG.TSE) 10 percent.
Ashton is the operator of the Alberta programs. Brooke Clements,
Professional Geologist, who is Ashton's Vice President,
Exploration, is responsible for the design and conduct of the
programs.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Ashton Mining of Canada Inc.
Robert T. Boyd, President & CEO
(604) 983-7750
Website: www.ashton.ca
or
Ashton Mining of Canada Inc.
Ariel Bowers, Investor Relations
(604) 983-7750
Email: investor@ashton.ca |
