ASHTON MINING OF CANADA (ACA) Message Board

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Gold/Mining/Energy : ASHTON MINING OF CANADA (ACA)

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To: Famularo who wrote (3573)	1/20/1998 12:27:00 PM
From: Jesse	of 7966

Yes-- it'll only sting this much for a bit! ;) I see Lytton Minerals has gotten into the Alberta game now, with New Indigo, in Birch Mountain's property (ann'd today): Birch Mountain Resources has entered into a letter agreement with Lytton Minerals and New Indigo Resources to explore jointly for diamonds on Birch Mountain's 775,000 hectare property in northeast Alberta. Lytton may earn up to a 60% interest in the diamond rights on the properties by making a payment of $390,000 to Birch Mountain to acquire some exploration data from Birch Mountain, and by spending $4.5 million on exploration within four years. At this point, Lytton will have the option to carry the project forward through completion of a bankable feasibility study to earn an additional 15% in the diamond rights ... Michael Dufresne of APEX Geoscience concluded that "the potential for the discovery of kimberlites is moderate to high within the block surveyed due to the nature of the magnetic anomalies, the position of the block relative to the Peace River Arch and the earlier discovery by the Alberta Geological Survey of diamond stability field indicator minerals within or in a down-ice direction of the block". Drilling of these targets is expected to commence during the first quarter of this year. _____________________________ Watch for more NWT players to migrate south :>

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