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Gold/Mining/Energy : A CANADIAN DIAMOND HUNT
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To: Ed Pakstas who wrote (267)2/26/1998 9:11:00 AM
From: Famularo  Read Replies (2) of 930
 
More kimberlites in Northern Alberta

Ashton Mining of Canada Inc ACA
Shares issued 23,798,122 Feb 25 close $4.00
Thu 26 Feb 98 News Release
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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