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Gold/Mining/Energy : ASHTON MINING OF CANADA (ACA)
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To: Jimsy who wrote (4045)2/26/1998 9:02:00 AM
From: Famularo   of 7966
 
Ashton Mining of Canada Inc -

More kimberlites in Northern Alberta

Ashton Mining of Canada Inc
ACA
Shares issued 23798122
1998-02-25 close $4
Thursday Feb 26 1998
Also Alberta Energy Company Ltd (AEC)
Also Pure Gold Minerals Inc (PUG)
Mr John Auston reports
Buffalo Hills Project, North-Central Alberta
The $10 million program announced by the joint venturers on February 9 1998 is
well under way. Two reverse circulation rigs are drilling large diameter holes in the
central portions of kimberlite K-14 to collect a sample of at least 500 tonnes for
analysis by dense media separation. A machine capable of drilling large diameter
core is about to begin taking a sample of approximately 40 tonnes from kimberlite
K-91, located 2.3 kilometres from K-14.
The first two magnetic anomalies drilled in areas about 30km east of the earlier
discoveries have proven to be reflections of kimberlite. The two kimberlites,
termed K-11 and K-15, have sizeable magnetic signatures:

Anomaly Depth of
Dimensions Overburden
---------- ----------
K-11 500m x 250m 13.4 metres
K-15 600m x 200m 42.7 metres

These early results from the reconnaissance program are encouraging indications
of a new cluster or clusters of pipes beyond the two identified to date. As
announced on February 9 1998, the program of scout drilling is continuing, with at
least another 13 magnetic anomalies scheduled to be tested this winter.
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