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

To: ddl who wrote (5323)	6/8/1998 1:31:00 PM
From: Henry Hooymans	Respond to of 7966

Ashton Mining of Canada Inc - Kenieba project developments Ashton Mining of Canada Inc ACA Shares issued 23798122 1998-06-05 close $3.05 Monday Jun 8 1998 See Mink International Resources Corp (MKM) News Release Mr. O.L. de la Cuesta reports Mink would like provide the following update regarding its current exploration program in the Kenieba diamond project, Republic of Mali in which it has a joint venture with Ashton Mining. Kassama Kimberlite Pipe Ashton's Laboratory in Perth, Australia has completed testing the core samples from the first diamond drill hole (98 KS DDH-01). Abundant picro ilmenites and modest amounts of chromite and pyrope garnet indicator minerals were recovered from the 330 kg sample tested. Following a review of the 98 KS DDH-01 drill core, as well as new magnetometer and other field data on the Kassama, Ashton geologists have determined that the pipe is made up of several phases. They also observed that it is much larger than the 44 hectare surface area that was earlier indicated, estimating it to be around 55 to 60 hectares instead. Due to the Kassama's extraordinary size and complexity, the Mink-Ashton joint venture management committee agreed to drill two additional holes to test different phases of the pipe. The company has now completed drilling the second hole (98 KS DDH-02), about 450 metres NW from 98 KS DDH-01. Kimberlitic material was first encountered at 222 metres below the surface and over 45 metres of kimberlite lapilli breccia were recovered. After the requisite logging of the core, the samples will be shipped to Ashton's laboratory for testing. The kimberlite from the second drill hole appears to be different from and is deeper blue in colour than those recovered from the first hole. These observations, coupled with the varying magnetic intensities exhibited in the magnetometer survey results, indicate that the kimberlites along the northern, central and southern sections are of different types and/or phases. Thus, the Kassama could be multi-phased kimberlite intrusions - a feature shared by many (similarly large) productive kimberlite pipes that are found elsewhere in the world. The drilling of the third hole (98 KS DDH-03) between the first and second holes (i.e. about 180 metres northwest of 98 KS DDH-01) is now continuing. Ashton has agreed that upon completion of this third drill hole and delivery of the corresponding core to its Perth laboratory, the Kassama pipe will enter the Ashton evaluation stage. In that event and pending further results from the second and third diamond drill holes, all subsequent activities on the Kassama pipe - from bulk sampling through to the completion of feasibility studies, including all related costs, will be Ashton's total responsibility. Cirque Kimberlite Pipe The company has completed drilling the Cirque pipe from which were earlier recovered five diamonds (viz: 6.01, 0.80, 0.44, 0.30 and 0.08 carats). The 22.2 hectare Cirque pipe actually consists of two diamondiferous bodies (the 14 hectare North Cirque and the 8.2 hectare South Cirque) abutting each other and forming a figure B. Mink's recent drill hole intersected the top of the pipe at 16 metres below the surface and bottomed, in kimberlite, at 148 metres. In addition to the diamonds that were recovered from the Cirque pipe itself, a number of large alluvial diamonds were also found along the Moralia Stream that flows from and/or through that particular kimberlite. The Moralia Stream's headwaters encompass the area directly above the Cirque pipe and its immediate surroundings. The Moralia alluvial diamonds include the 70.62 carat gemstone that Mink discovered in April 1997 and two others weighing 38.5 and 10.57 carats respectively. Ashton has agreed that upon its Perth laboratory receiving 500 kg core samples from the recent drilling, the Cirque pipe will then be in the Ashton evaluation stage. As such, Ashton will assume all activities and related costs from testing the 500 kg samples and, depending on test results, subsequent bulk sampling through to the completion of feasibility studies. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com