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Gold/Mining/Energy : Canadian Diamond Play Cafi -- Ignore unavailable to you. Want to Upgrade?

To: Famularo who wrote (290)	11/8/2002 3:46:40 PM
From: Famularo	Read Replies (1) \| Respond to of 16205

Ashton releases additional Stellaria results Ashton Mining of Canada Inc ACA Shares issued 49,062,149 Nov 7 close $1.19 Fri 8 Nov 2002 News Release Mr. Robert Boyd reports ASHTON MINING OF CANADA INC.: STELLARIA KIMBERLITE RETURNS MO ... Ashton has released additional diamond results from the Stellaria kimberlite located on the Kikerk Lake property in the Coronation Gulf region of Nunavut. Initial diamond results were reported in Stockwatch July 17, 2002. The Stellaria kimberlite is situated 700 metres east of the diamondiferous Potentilla kimberlite. As reported in Stockwatch May 21, 2002, Stellaria was discovered by drilling a single vertical hole into a geophysical anomaly having approximate surface dimensions of 160 metres by 50 metres. A second hole was drilled in August from a location 40 metres northwest of the discovery drill site at an inclination of 60 degrees from horizontal toward the vertical discovery hole. The drill passed through 16 metres of glacial overburden and 52 metres of dolomitic limestone before intersecting 21 metres of hypabyssal kimberlite, giving Stellaria an estimated true width of 13 metres. A 110.7-kilogram sample of kimberlite drill core was processed by caustic dissolution at Ashton's North Vancouver, B.C., laboratory. Table 1 presents a summary of the diamond results in square mesh sieve format. Table 2 presents the data in table 1 together with the initial results as reported in Stockwatch July 17. These data are not sufficient to infer an accurate diamond grade for this kimberlite. TABLE 1 NOV. 8 DIAMOND RESULTS Sample Numbers of diamonds according to weight sieve size fraction (kg) (mm) +0.100 +0.150 +0.212 +0.300 +0.425 -0.150 -0.212 -0.300 -0.425 -0.600 ------ ------ ------ ------ ------ 17 17 19 7 3 ------ ------ ------ ------ ------ +0.600 +0.850 +1.180 Total -0.850 -1.180 -1.700 diamonds ------ ------ ------ ------ 110.7 3 0 1 67 Note 1: This diamond measures 2.3 x 1.4 x 0.9 millimetres. TABLE 2 SUMMARY OF DIAMOND RESULTS FOR NOV. 8, 2002, AND JULY 17, 2002 Numbers of diamonds Date Sample Total diamonds reported weight greater than (kg) or equal to 0.1 mm (in two dimensions) Nov. 8, 2002 110.7 67 July 17, 2002 105.4 79 --- Total 216.1 146 === Greater Greater Greater than than than or equal to or equal to or equal to 0.5 mm 0.5 mm to 1.0 mm (in one (in two (in two dimension) dimensions) dimensions) 22 10 1 13 1 0 -- -- - 35 11 1 == == = The discovery of two diamondiferous kimberlites on the Kikerk Lake property confirms the need for further work on the property and in the region. Analysis of the 269 heavy mineral samples collected from the Kikerk Lake property in 2002 is currently under way. Once these results become available, the scope and nature of the 2003 winter program will be determined. Exploration on the Kikerk Lake property is governed by an agreement among Ashton, Caledonia Mining Corporation and Northern Empire Minerals Ltd. The current respective interests of the parties are Ashton 52.5 per cent, Caledonia 17.5 per cent and Northern Empire 30 per cent. Ashton has the right to increase its interest to 59.5 per cent by carrying Caledonia until the completion of a feasibility study. Northern Empire is participating in the current program. Ashton is the operator of the programs and Brooke Clements, professional geologist, and Ashton's vice-president, exploration, is responsible for their design and conduct, and the verification and quality assurance of analytical results.