Ashton News Release
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News Release for "ASHTON MINING OF CANADA INC"
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NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: ASHTON MINING OF CANADA INC.
TSE, ME SYMBOL: ACA
NOVEMBER 11, 1997
Ashton Announces Results from K14 Mini-Bulk Sampling
VANCOUVER, BRITISH COLUMBIA--John S. Auston, President and CEO of
Ashton Mining of Canada Inc., is pleased to provide the first
diamond results from mini-bulk sampling of kimberlite K14 in the
Buffalo Hills project, northern Alberta.
The samples, totalling 27.42 tonnes in weight, are from reverse
circulation drill holes (8.17 tonnes) and surface pits (19.25
tonnes). The seven vertical holes were drilled at 25 metre centres
along an east-west line 150 metres in length in the south-central
portion of the main K14 magnetic anomaly. The five surface pits
are spaced irregularly along an east-west distance of 50 metres on
the northern part of the main anomaly K14, 75 metres north of the
drill holes. The results of the dense media separation tests are
tabulated below.
/T/
Kimberlite Sample Hole Dry Weight of Carats/100t.
Sample Type Length Sample Stones greater for Stones
Number (m) Weight than 0.8 mm greater than
(t) (carats) 0.8 mm
K-14-1 RC 88.4 1.11 0.74 67
K-14-2 RC 86.9 1.07 0.19 18
K-14-3 RC 88.2 1.10 0.12 11
K-14-4 RC 98.8 1.34 1.18 88
K-14-5 RC 86.7 1.07 0.48 45
K-14-6 RC 89.7 1.22 0.09 7
K-14-7 RC 94.3 1.26 0.19 15
Total 8.17 2.99 36
Kimberlite Sample Hole Dry Weight of Carats/100t.
Sample Type Length Sample Stones greater for Stones
Number (m) Weight than 0.8 mm greater than
(t) (carats) 0.8 mm
K14 Pits 1-5 Pits Surface 19.25 1.87 10
/T/
All results indicate a high variability in diamond content over
relatively short distances. Generally the diamond contents of the
pits are lower than those of the drill holes. The drill hole
samples collected over 150 metres horizontally and up to 90 metres
vertically are more representative of K14 than are the pit samples
which were collected from surface. The drill hole data should be
considered a more reliable indication of the commercial potential
of the K14 kimberlite.
The five largest stones recovered weigh 0.60, 0.30, 0.28, 0.21 and
0.18 carats. Many of the diamonds are colourless, and there are
some coloured stones as well. The sample size is too small
however, to make any definitive comment on quality. There is some
evidence of breakage of stones resulting from the drilling
process, although the larger stones noted are whole.
The results are an encouraging indication that kimberlite K14
contains a population of diamonds of commercial size. Considerably
larger samples are required to accurately determine the grade and
quality of the diamonds and hence the commercial potential of the
deposit.
Ashton Mining of Canada Inc. (ACA.TSE/ME) and Pure Gold Resources
Inc. (PUG.TSE) have an option agreement with Alberta Energy
Company Ltd. of Calgary (AEC.TSE and AOG/NYSE) whereby Pure Gold
and Ashton have the right to earn interests of 15 percent and 42.5
percent respectively in the Buffalo Hills Property. Total
landholdings, including option and joint venture lands, comprise
28.3 million acres in north central Alberta. Ashton is operator of
the related exploration programs.
Ashton is a diamond exploration company with interests in a wide
range of properties in Canada and the United States. It is 62
percent-owned by Ashton Mining Limited of Australia, a leading
explorer, producer and marketer of diamonds which holds an
interest of 40.1 percent in the Argyle diamond mine in
northwestern Australia.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Ashton Mining of Canada Inc.
John S. Auston
President and CEO
(604) 983-7750
or
Ashton Mining of Canada Inc.
Wayne D. Hillier
Vice President, Exploration
(604) 983-7750 |
