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Gold/Mining/Energy : ASHTON MINING OF CANADA (ACA)
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To: Jesse who wrote (2735)10/31/1997 5:03:00 PM
From: ICE  Read Replies (3) of 7966
 
It sounds to me that the K14 pipes are not true diatremes. They sound like they are more the shape of a champaine glass that is typical of lamproites. Crater facies material is typically deposited by sedimentary processes. The kimberlite is ejected into the air and then falls back into the crater commonly as airfall or base surges and possibly debris flows from the crater walls. I would hope that Ashton has done some petrography and mineral chemistry on the rocks and that is why they are calling them "Kimberlites". It souds to me that the K14 pipes are more comparible to the Fort a la Corne kimberlites in Saskatchewan. These kimberlites are large tonnage but low grade.

Crater facies rocks can be very complex and difficult to interpret. Diamond grades can be extremely variable. Some of the beds or layers could be extremly rich in diamonds while an adjacent bed could contain no diamonds at all. Diamond grade can also be extremly variable within any unit. We will not know the true potential of these "kimberlites" until they have been bulk sampled sufficiently.

Do not forget about the DHK kimberlites in the Slave Province that reported some very encouraging fine diamond results prior to bulk sampling. After bulk sampling the pipe was abandoned and so was the stock by investors. This was also a crater facies kimberlite. Many other crater facies kimberlites such as Aber,s and BHP's however look more encouraging. They however have extremly good mineral chemistry and are located on a proven good stable Archean Craton. The Buffalo Hills area is missing the good mineral chemistry and does not have the geological setting of the Slave.

I do not own any ACA or PUG at this time and would not consider buying any on this news. I do however hold some shares of some other players in the area who I believe will drill kimberlite in the near future. I think that much better results are needed before the "kimberlites" in this area can be compared with Argyle's or Jwaneng's.

Good Luck!
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