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

To: Michael Markham who wrote (5283)	6/4/1998 1:34:00 PM
From: Famularo	Respond to of 7966

Just to refresh our memory, this is the mini bulk sampling results we received on K14 last November... Based on initial samples, K91 should come in higher. Results from K14 mini-bulk sampling Ashton Mining of Canada Inc ACA Shares issued 20,836,399 Nov 10 close $5.35 Tue 11 Nov 97 News Release Also Alberta Energy Company Ltd (AEC) Also Pure Gold Resources Inc (PUG) Mr John Auston reports Ashton Mining has received the first diamond results from mini-bulk sampling of kimberlite K14 in the Buffalo Hills project, northern Alberta. The samples, totalling 27.42 tonnes in weight, are from reverse circulation drill holes (8.17 tonnes) and surface pits (19.25 tonnes). The seven vertical holes were drilled at 25 metre centres along an east-west line 150 metres in length in the south-central portion of the main K14 magnetic anomaly. The five surface pits are spaced irregularly along an east-west distance of 50 metres on the northern part of the main anomaly K14, 75 metres north of the drill holes. The results of the dense media separation tests are tabulated below. Hole Dry Weight of Carats/100t Length Sample Stones greater for Stones (m) Weight than 0.8mm greater than (t) (carats) 0.8mm ------ ------ -------------- ------------ Sample K-14-1 (type RC) 88.4 1.11 0.74 67 Sample K-14-2 (type RC) 86.9 1.07 0.19 18 Sample K-14-3 (type RC) 88.2 1.10 0.12 11 Sample K-14-4 (type RC) 98.8 1.34 1.18 88 Sample K-14-5 (type RC) 86.7 1.07 0.48 45 Sample K-14-6 (type RC) 89.7 1.22 0.09 7 Sample K-14-7 (type RC) 94.3 1.26 0.19 15 Total 8.17 2.99 36 Hole Dry Weight of Carats/100t Length Sample Stones greater for Stones (m) Weight than 0.8mm greater than (t) (carats) 0.8mm ------ ------ -------------- ------------ Sample K14 Pits 1-5 (type Pits) Surface 19.25 1.87 10 All results indicate a high variability in diamond content over relatively short distances. Generally the diamond contents of the pits are lower than those of the drill holes. The drill hole samples collected over 150 metres horizontally and up to 90 metres vertically are more representative of K14 than are the pit samples which were collected from surface. The drill hole data should be considered a more reliable indication of the commercial potential of the K14 kimberlite. The five largest stones recovered weigh 0.60, 0.30, 0.28, 0.21 and 0.18 carats. Many of the diamonds are colourless, and there are some coloured stones as well. The sample size is too small however, to make any definitive comment on quality. There is some evidence of breakage of stones resulting from the drilling process, although the larger stones noted are whole. The results are an encouraging indication that kimberlite K14 contains a population of diamonds of commercial size. Considerably larger samples are required to accurately determine the grade and quality of the diamonds and hence the commercial potential of the deposit. Ashton Mining and Pure Gold have an option agreement with Alberta Energy Company of Calgary whereby Pure Gold and Ashton have the right to earn interests of 15% and 42.5% respectively in the Buffalo Hills property. Total landholdings, including option and joint venture lands, comprise 28.3 million acres in north central Alberta. Ashton is operator of the related exploration programs.