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

To: DIAMOND JIM who wrote (4064)	2/26/1998 1:27:00 PM
From: Blair M. Geiger	Respond to of 7966

Has this Feb.26/98 News Release been posted yet? If not, here it is: Ashton Discovers More Kimberlites in Northern Alberta John S. Auston, President and CEO of Ashton Mining of Canada Inc., is pleased to provide a progress report on the Company's activities on the Buffalo Hills Project in north- central Alberta. The $10 million program announced by the joint venturers on February 9, 1998 is well underway. Two reverse circulation rigs are drilling large-diameter holes in the central portions of kimberlite K-14 to collect a sample of at least 500 tonnes for analysis by dense media separation. A machine capable of drilling large-diameter core is about to begin taking a sample of approximately 40 tonnes from kimberlite K-91, located 2.3 kilometres from K-14. The first two magnetic anomalies drilled in areas about 30 kilometres east of the earlier discoveries have proven to be reflections of kimberlite. The two kimberlites, termed K-11 and K-15, have sizeable magnetic signatures: Anomaly Dimensions Depth of Overburden K-11 500 metres x 250 metres 13.4 metres K-15 600 metres x 200 metres 42.7 metres These early results from the reconnaissance program are encouraging indications of a new cluster or clusters of pipes beyond the two identified to date. As announced on February 9, 1998, the program of scout drilling is continuing, with at least another 13 magnetic anomalies scheduled to be tested this winter. Ashton is a diamond exploration company with interests in a wide range of properties in Canada and the United States. It is 62 percent-owned by Ashton Mining Limited of Australia, a leading explorer, producer and marketer of diamonds which holds an interest of 40.1 percent in the Argyle diamond mine in northwestern Australia. c 1997 StockHouse Online Journal \| Disclaimer