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

To: Jimsy who wrote (3577)	1/20/1998 4:51:00 PM
From: Jesse	Respond to of 7966

Yesterday's ACA news, as reported by Reuter's in Melbourne: Ashton Canada finds more Alberta diamonds newsalert.com MELBOURNE, Jan 20 (Reuters) - Ashton Mining of Canada Inc, said on Tuesday mini-bulk sampling of kimberlite material from its Buffalo Hills prospect in the foothills of Canada's Alberta had indicated the presence of commercial size diamonds. Ashton Canada, a 62 percent owned subsidiary of Australian diamond miner Ashton Mining Ltd, has discovered 17 kimberlite pipe rock formations at the prairie province site, eleven of which have so far found to contain gems. The company said the current results were from samples taken from the kimberlite called K14 in 1997 and yielded 7.79 carats from about 45 tonnes of material and recovered two large diamonds weighing 1.31 carats and 0.32 carats. "These results confirm that K14 contains a population of diamonds of commercial size while continuing to show the high degree of variability between samples reported in the November 11 results," the company said. Ashton said the high variability between samples was not considered unusual given the random distribution of diamonds in kimberlites. Ashton Canada said the larger of the two diamonds was a single crystal of silvery-grey appearance with many dark inclusions. But the company said significantly larger samples representative of the entire near-surface kimberlite would be required to assess any commercial potential. Ashton Canada shares closed 11 percent weaker at C$5.55 on the Toronto Stock Exchange on Monday, while Ashton Mining shares were untraded on Tuesday after closing at A$1.55 on Monday. -------------~~~--------------- :>