SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : ASHTON MINING OF CANADA (ACA)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: strenlich who wrote (1803)7/3/1997 9:18:00 PM
From: Famularo   of 7966
 
** Here is some info on the NWT property. **
NORTHWEST TERRITORIES
Roundrock Property
A follow-up exploration program is planned for the Roundrock property, in the
Northwest Territories during the summer exploration season. The Roundrock
property is part of a package of claims purchased from Star Resources (formerly
known as Texas Star). Pure Gold commenced the deal with Ashton Mining of
Canada by introducing Lytton Minerals to Ashton. A joint venture has been
formed under the following terms:

Ashton 51%
Pure Gold 24.5%
Lytton 24.5%

During last year's exploration program 279 samples were collected on the
property during the spring and summer of 1996. Processing was completed during
the month ending December 31 1996. Ashton also obtained 654 samples from
Canamera Geological for the purpose of re-observation on the basis of their
location on the current Roundrock Lake claim package.
The most significant result from the 1996 sampling program is the delineation of an
indicator dispersion train 1.6km north of the Aquila kimberlite. The train is defined
by samples anomalous in picroilmenite, pyrope, chrome diopside and olivine.
Another trend, with a similar mineralogy, is becoming apparent five kilometres
northeast of the Aquila area. Here, anomalous 1996 Ashton samples coincide with
new results from re-observed Canamera samples. Three to five kilometres south
and southeast of the Aquila pipe, there are additional anomalous trends which
contain mineralogies distinct from known kimberlites on the property.
Proposed 1997 Program
The discovery of the diamondiferous Aquila kimberlite and an associated fissure
system, clearly indicates the potential for additional kimberlites on the Roundrock
property. Results from 1996 samples and new data from the re-observed samples
have outlined several areas on the property that will require intense follow-up in
1997.
A high resolution magnetic and EM survey will be flown over a 6km area north of
the Aquila kimberlite. Any targets identified will be confirmed through ground
geophysical surveys and additional detailed heavy mineral sampling. A subsequent
drill program scheduled for late June, will test priority targets and recover an
additional one to two tonnes of material from the Aquila kimberlite for further
diamond testing. A 100 sample follow-up program is proposed in order to
increase sample density on the Roundrock property and test weaker anomalous
trends. The anticipated cost of the 1997 exploration program is approximately
$450,000.
After spending in excess of $1 million in exploration expenditures on the claims,
Ashton has vested its 51% undivided interest in the property.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News