Ashton's diamond analyses for kimberlite K-11
Pure Gold Minerals Inc
PUG Shares issued 31,374,033
1999-01-14 close $0.20
Friday Jan 15 1999
Ashton Mining of Canada Inc
ACA Shares issued 29,230,665
1999-01-14 close $1.40
Friday Jan 15 1999
Mr. John Auston reports
Ashton Mining of Canada Inc., reports the results of analyses of a minibulk sample from kimberlite K-11 on the Buffalo Hills project in north central Alberta. Kimberlite K-11 is one of a cluster of four kimberlites found last winter about 30 miles east of kimberlite K-14. Analyses indicated an interesting content of microdiamonds in the discovery hole on K-11, as reported on May 28, 1998. Accordingly, a minibulk sample of 18.68 tonnes was taken in October in four reverse circulation drill holes, and a further sample of 3.17 tonnes in four core drill holes. The samples were processed by dense media separation at Ashton's laboratory at North Vancouver. A total of 0.82 carat of diamonds larger than 0.8 millimetre was recovered from the sample of 18.68 tonnes from reverse circulation holes, providing an indicated content of 4.41 carats per hundred tonnes. The smaller sample of 3.17 tonnes from the core holes provided 0.14 carat of diamonds larger than 0.8 millimetre, for an indicated content of 4.53 carats per hundred tonnes. The two largest diamonds recovered weigh 0.095 and 0.094 carat, with maximum dimensions of 2.7 and 3.6 millimetres respectively. Most of the stones are colourless. The results show that kimberlite K-11 contains diamonds of commercial size, but in insufficient quantity to be of economic interest. No further sampling of K-11 is planned at this time. Ground geophysical crews have commenced work to corroborate new targets, and drilling will begin at the end of January. Analyses for microdiamonds are underway on samples from kimberlites BM-2, BM-3 and LL-8 discovered in December. The joint venturers on the Buffalo Hills and Joint Venture Lands are Ashton Mining of Canada Inc., Alberta Energy Company Ltd. and Pure Gold Minerals Inc. Under arrangements between the parties announced on Dec. 22, 1998 the interests of the joint venturers upon completion of currently-approved programs will be Ashton 45 per cent, Alberta Energy 45 per cent, and Pure Gold 10 per cent. On the Cayo lands the interests will be Ashton 35 per cent, Alberta Energy 35 per cent, and Pure Gold 30 per cent. Ashton is the operator of the programs. |
