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Gold/Mining/Energy : ASHTON MINING OF CANADA (ACA) -- Ignore unavailable to you. Want to Upgrade?

To: Michael Markham who wrote (7509)	3/8/2000 7:57:00 PM
From: Famularo	Read Replies (1) \| Respond to of 7966

Why Ashton has picked up investor's interest. 1. Two new pipes.. K8 and K160.. decent size, only 30-40 meters of overburden. Microdiamond results from these kimberlites are pending. Not sure of the timing! 2. 34 pipes found in Alberta. (more than any other exploration company) This data is confidential and Ashton is not the liberty of sharing. 3. BH225- Ashton has extracted 1 Ton of material. Returned one of the better microdiamond results of the Alberta kimberlites. Only 1 KM from K14. The costs to develop and run an open pit mine in the Alberta region should be significantly lower than the costs faced by the Ekati mine in the Northwest Territories. The joint venture has estimated an ore value of $22 per tonne might support a mine in north Alberta. This value appears optimistically low, however. No formal valuation results have been released on any of the recovered diamonds. There is supporting information to suggest that the Buffalo Hills diamonds recovered to date would have significant value per carat. To achieve a $40 (U.S.) value per tonne, a sample would require a grade of 1.0 carat per tonne with a value of $40 (U.S.) per carat. The initial results from body BH-225 contains 747 diamonds per tonne, with a macro to micro ratio of 0.07. This very small sample contained macros exceeding one millimetre in length at the rate of 20 per tonne. These figures appear quite similar to the cumulative results from the four pipes which have been minibulk sampled. The K14, K91, K11, and K6 caustic fusion results revealed 758 diamonds per tonne, and a macro to micro ratio of 0.07. Six macro diamonds per tonne exceeded one millimetre in length. 4. Drilling on the Buffalo Hills property is continuing. 5. Retained only those permits with the highest discovery potential within the Cayo Lands. 6. Work has started on Horseshoe property, 90 kilometres southwest of Ashton's K14 kimberlite discovery. 7. Geophysics has commenced on the Cross, Star and Roundrock properties in the Northwest Territories. Drilling to start in a few weeks. 8. 62% controlled by Parent Company, Ashton Australia. 9. Geophysics has commenced on the Cross, Star and Roundrock properties in the Northwest Territories. Drilling to start in a few weeks. 10. 62% controlled by Parent Company, Ashton Australia. The current exploration program must return some success to keep market interest alive and Ashton Canada able to justify the existence in Alberta. The Alberta region has been proven to host a large number of kimberlites, but to date none of them are an economic producer. While this excitement is going on, we can still place our betting chips in the NWT. Regards Fast Frank