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

To: johnlw who wrote (7761)	11/1/2001 10:16:28 AM
From: Famularo	Read Replies (1) \| Respond to of 7966

Ashton Mining of Canada Inc.: Artemisia Kimberlite Sample Highly Diamondiferous VANCOUVER, B.C.--(BUSINESS WIRE)--Nov. 1, 2001--Robert T. Boyd, President and CEO of Ashton Mining of Canada Inc. (``Ashton'' or ``the Corporation'') (TSE:ACA. - news), is very pleased to report initial diamond results for the Artemisia kimberlite. Artemisia is located on the Kim property in the north Slave craton region of Nunavut. The kimberlite occurs in outcrop at the head of an indicator mineral dispersion fan and geologic mapping suggests that the body is at least 150 m by 140 m in size. As reported on September 11, 2001, Artemisia was discovered during the fall program when one vertical hole was drilled to a depth of 169.2 metres. The hole intersected and terminated in homogeneous diatreme facies kimberlite. Material from the drill core was processed by caustic dissolution at Ashton's North Vancouver laboratory and returned the following numbers of diamonds: Kimberlite Sample Weight Number of Diamonds (kg) ---------------------------------------- Micro Macro (0.1-0.5 mm) (equal to or greater than 0.5 mm in one dimension) ------------------------------------------------------------------ 103.2 342 38 ( note 1) ------------------------------------------------------------------ Note 1: Thirteen of the macrodiamonds are greater than 0.5 mm in two dimensions. The three largest stones measure 1.23 x 1.15 x 1.10 mm, 1.13 x 0.80 x 0.68 mm, and 0.94 x 0.92 x 0.80 mm. Further material from the drill core will be analyzed for microdiamonds. In addition, a one tonne mini-bulk sample of outcropping kimberlite collected during the fall drilling program will be processed for macrodiamonds through Ashton's dense media separation plant. Results from these analyses are expected over the next two to three months. Ashton also intends to conduct delineation drilling of Artemisia and to collect a second mini-bulk sample in the spring of 2002. The Corporation holds its interest in the Kim property under the Slave Regional Joint Venture with Pure Gold Minerals Inc. (PUG:TSE). Ashton's interest in the joint venture will approach 90 percent with completion of the 2001 exploration program. With the most recent staking of an additional 20,000 hectares of mineral claims in the north Slave, the joint venture's four properties in the region (Kim, Vic, Ric and Eokuk) now constitute approximately 175,000 hectares. The Artemisia results confirm the emergence of a new diamond district in the north Slave craton region of Nunavut. Ashton controls an extensive land position of more than 190,000 hectares on the north Slave craton through the Slave Regional Joint Venture and through the Corporation's option to earn up to a 59.5 percent interest on the Kikerk Lake property. The Kikerk Lake property hosts the diamondiferous Potentilla kimberlite located approximately 10 km east of Artemisia. Ashton's 2002 exploration program on its north Slave craton properties will include geophysics and heavy mineral sampling in order to locate the sources of more than ten unexplained indicator mineral trains. Brooke Clements, Professional Geologist and Ashton's Vice President, Exploration, is responsible for the design and conduct of the exploration programs.