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Gold/Mining/Energy : ASHTON MINING OF CANADA (ACA)
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To: DIAMOND JIM who wrote (5630)7/14/1998 7:27:00 PM
From: Ned Land  Read Replies (3) of 7966
 
"Marum has missed" Jim, I think you're wrong. Today was a "good news" day for the ADP.

The company explained in April:

The intent of the drilling was to test overburden thickness and to obtain samples from basal till and bedrock in the vicinity of magnetic and/or physiographic anomalies defined by airborne and ground magnetic surveys.

The airmag data they had was not suitable to do much else (than give a proximal drilling site) and, what is more, the company's coffers aren't overflowing with cash, so they had to have a reasonable basis for believing they were on the trail of kimberlite -- hence the till samples. This is also why they elected to use and RC drill which is seldom capable of penetrating kimberlite. The alternative approach -- the one I call the "Montello splash" -- is where you use a diamond drill to validate the existence of magnetic sands.

I think that the company now knows they have kimberlite nearby; With new, high resolution airmag data, they just have to drill a few targets. Alas, a real drill program! Money remains a problem, though.

I know everyone's getting a bit cynical -- especially since ACA's in the doldrums and some juniors are spending money like sailors without consequence -- but, unless we're prepared to acknowledge progress short of a 29.2 carat diamond, we're bound to fulfill the prophecies of our many naysayers.

After this next NR it could be a long time till the next one - without impressive results or stones (eg 5-10 ct) we may fall below $2. I think everyone realizes this

Sometimes progress is measured in inches not feet. This notwithstanding, it remains "progress."

Again, today was a good day for the ADP.
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