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

To: Letmebe Frank who wrote (316)	12/20/2002 9:35:35 AM
From: Famularo	Read Replies (1) \| Respond to of 16206

Ashton and Pure Gold arrange 2003 Slave program Ashton Mining of Canada Inc ACA Shares issued 49,062,149 Dec 19 close $1.27 Fri 20 Dec 2002 News Release Also (PUG) Mr. Robert Boyd reports ASHTON MINING OF CANADA INC.: SLAVE JOINT VENTURE APPROVES 20 ... Ashton Mining of Canada and Pure Gold Minerals have approved an exploration program for 2003 under the Slave joint venture. The program has an estimated budget of $2-million. Most of the work will be conducted on the joint venture's properties in the Coronation Gulf region of Nunavut where 11 diamondiferous kimberlites have been have identified since 1999. Ashton has discovered five of these bodies including three on the joint venture's holdings. The 2003 program will include heavy mineral sampling, ground geophysics and where warranted drilling. Field activities will commence in late March or early April when a ground geophysical program will be conducted to refine airborne geophysical anomalies associated with indicator mineral anomalies. Any priority targets identified as a result will be drilled before spring breakup in mid-May. The summer phase of the program will include a follow-up indicator mineral sampling program to better define known indicator mineral trains and upgrade geophysical targets. The joint venture currently holds approximately 238,000 hectares of mineral claims in areas of the Northwest Territories and Nunavut known to be prospective for diamonds. Six properties totalling approximately 222,000 hectares are located in the Coronation Gulf region, including the 8,600 hectare Fairy River property staked in 2002. The approximate current beneficial interests in the joint venture are Ashton -- 89.4 per cent, and Pure Gold -- 10.6 per cent. Each party has elected to contribute its pro rata share of the costs of the 2003 program. Ashton is the operator of all programs and Brooke Clements, professional geologist, and Ashton's vice-president, exploration, is responsible for their design and conduct.