Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Kensington Resources Ltd. (V.KRT) * Diamond in the rough! -- Ignore unavailable to you. Want to Upgrade?

To: BUDDY MOYNIHAN who wrote (1061)	2/9/1998 12:51:00 PM
From: Miles	Read Replies (2) \| Respond to of 5206

Just in case anybody missed it, ACA released more results today. It will be a good comparison when we release our results. I don't think we will be trading at these levels for long!!!! Ashton Mining of Canada Inc ACA Shares issued 20836399 1998-02-06 close $4.9 Monday Feb 9 1998 Also Pure Gold Minerals Inc (PUG) Also Alberta Energy Company Ltd (AEC) Mr John Auston reports The company has received further results from sampling of the K-6 and K-91 kimberlites in the Buffalo Hills project, north-central Alberta. As reported on in Stockwatch January 19 1998, a clear yellow diamond of 0.76 carat in weight was found in the early stages of processing of the mini-bulk sample from kimberlite K-6. The full results of dense media separation analysis of this sample of 13.95 tonnes are now available and are tabulated below. Although only a few macrodiamonds other than the yellow stone reported earlier have been found, the presence of this stone alone is encouraging and indicates a need for further sampling. Microdiamond analyses in late 1997 showed K-91 to have one of the higher microdiamond counts found so far among the Buffalo Hills kimberlites. Results from analysis by dense media separation of core from the four holes (0.85 tonne) display a high degree of variability between holes. The best results were obtained from hole K-91-1, where 0.287 carat was recovered from a sample of 0.21 tonne, for an indicated content of 136 carats per 100 tonnes. The average indicated diamond content in material taken from the four holes is 35 carats per 100 tonnes. Although these results are derived from very small samples, they confirm the presence of a population of larger stones and point to the need for collection of a larger sample. Results are tabulated below: Indicated Dry Weight of Carats/100t sample stones greater for stones weight than 0.8mm greater than (tonnes) (carats) 0.8mm ------ -------------- ------------ Kimberlite K-6 (type RC) 4.13 .005 0.1 Kimberlite K-6 (type pit) 4.65 .067 1.4 Kimberlite K-6* (type core) 5.17 .804 15.5 Kimberlite K-91** (type core) 0.85 .301 35.4 RC means reverse circulation * largest stone 0.75 carat (reported in Stockwatch January 19 1998) ** largest stones 0.14 and 0.13 carat Ashton and Pure Gold Minerals have now perfected their interests of 42.5% and 15% respectively in the Buffalo Hills option property, having met the requirement to expend $5.5 million as defined under the agreement dated October 1 1996. Total landholdings held jointly, including the Buffalo Hills property, comprise of approximately 28 million acres, and Ashton is operator of the related exploration programs. All future programs on these landholdings will be funded pro-rata based on the joint venturers' interests. The joint venturers, Ashton, Alberta Energy Company and Pure Gold Minerals, have finalized an initial exploration program for 1998 of $10 million. Included are provisions for the acquisition of a 10 tonne per hour dense media separation plant, collection of a bulk sample of in excess of 500 tonnes from the K-14 complex, mini-bulk sampling of kimberlite K-91, exploration drilling of a minimum of 15 new targets, and extensive airborne geophysical surveys. The winter field program is now under way, with drills to be mobilized within the next few days. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing)