OR: ASHTON MINING OF CANADA INC.
ME, TSE SYMBOL: ACA
APRIL 28, 1999
Ashton Reports Microdiamond Results from Kimberlites in
Alberta
VANCOUVER, BRITISH COLUMBIA--John S. Auston, President and CEO of
Ashton Mining of Canada Inc. reports results of microdiamond
analyses of samples from four kimberlites discovered during the
winter program of drilling on the Buffalo Hills and Joint Venture
Lands Project in north-central Alberta. A single vertical core
hole was drilled on each of the four kimberlites reported below.
/T/
Kimberlite Laboratory Sample Number of Number of
Weight (kg) Diamonds Diamonds
less than greater
0.5mm than 0.5mm
BH-225 AMC 58.8 45 4
AML 37.6 22 1
96.4 67 5(1)
BH-155 AMC 137.2 28 0
AML 137.8 4 0
275.0 32 0
BH-230 AMC 87.6 0 0
AML 88.8 1 0
176.4 1 0
LL-7 AMC 26.2 0 0
26.2 0 0
(1) Largest stones: 1.4 x 0.6 x 0.5 mm
1.1 x 0.6 x 0.6 mm
Laboratories
AMC - Ashton Mining of Canada, North Vancouver
AML - Ashton Mining Limited, Perth, Australia
/T/
These recent analyses show that three of the four kimberlites are
diamondiferous, with BH-225 returning a higher count of greater
interest. BH-225 is indicated by a magnetic anomaly measuring
approximately 125 metres by 100 metres. It is near kimberlite K-
14 which was sampled earlier, and was discovered under 30 metres
of overburden. Ashton is encouraged by the results from BH-225,
and further work is being considered.
Kimberlite BH-155 is south of K-14, and is indicated by a magnetic
anomaly measuring 150 metres by 100 metres. It was discovered
under 34 metres of overburden. The microdiamond content, although
less than that of BH-225, is of interest and additional work will
be considered on this diamondiferous kimberlite as well.
Results are pending from kimberlites BH-229 and BM-16, also
discovered during the 1999 winter program. Limited amounts of
material were recovered from these two kimberlites. Upon
completion of detailed logging, a small quantity from each will be
processed for microdiamond content.
The joint venturers on the Buffalo Hills and Joint Venture Lands
are Ashton Mining of Canada Inc. (ACA.TSE/ME), Alberta Energy
Company Ltd. (AEC.TSE and AOG.NYSE) and Pure Gold Minerals Inc.
(PUG.TSE). Under arrangements between the parties announced on
December 22, 1998 the interests of the joint venturers upon
completion of currently-approved programs will be Ashton 45
percent; Alberta Energy 45 percent; and Pure Gold 10 percent.
Ashton is the operator of the programs.
Ashton is a diamond exploration company with interests in a wide
range of properties in Canada and the United States. It is 61.2
percent-owned by Ashton Mining Limited of Australia, a leading
explorer, producer and marketer of diamonds which holds an
interest of 40.1 percent in the Argyle diamond mine in
northwestern Australia.
ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS APRIL 29, 1999
Ashton Mining of Canada Inc. will hold its 1999 Annual and Special
Meeting of Shareholders on Thursday, April 29, 1999 at the
Waterfront Centre Hotel, Malaspina Room, Concourse Level, 900
Canada Place Way, Vancouver, B.C., commencing at 2:00 p.m.
Following the corporate proceedings, John S. Auston, President and
Chief Executive Officer, will review Ashton's current diamond
exploration programs.
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