ASHTON MINING OF CANADA (ACA) Message Board

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

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To: BLZBub who wrote (4963)	5/1/1998 12:09:00 PM
From: Famularo	Read Replies (1) of 7966

This is from Goepel research: Diamond Company Updates - Rob Klassen Ashton Mining of Canada (ACA, $3.40) held its AGM yesterday, highlighting progress on the Buffalo Hills play in Alberta. 23 kimberlites, all at various stages of exploration, have been identified to date on the project and work in progress includes processing of a 40 tonne mini-bulk sample of K91 which should be completed by the 3rd quarter of 1998. Ashton released micro/macro diamond counts on Thursday for three of the nine kimberlites discovered this past winter. Pipe WP, located 550 metres from K14, returned a small count of stones including one macro diamond of 1.6 millimetres. Rob stated that these results, although not as encouraging as from other pipes, represent only a small portion of the total number of pipes present on the property. Micro counts are still pending for the six other pipes discovered during 1998. Rob believes that Ashton, with 23 pipes and over 80 geophysical targets identified, offers investors exposure to a full range of projects Rob likes Buffalo Hills as a long-term diamond play and he recommends Ashton as a Speculative Buy with a target price of $7.50 per share.

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