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Gold/Mining/Energy : A CANADIAN DIAMOND HUNT -- Ignore unavailable to you. Want to Upgrade?

To: Rocket Red who wrote (394)	8/17/1998 9:25:00 AM
From: Famularo	Read Replies (1) \| Respond to of 930

Follow-up work completed in two areas of Buffalo Hills Pure Gold Minerals Inc PUG Shares issued 26,379,471 Aug 14 close $0.32 Mon 17 Aug 98 News Release Also Alberta Energy Company Ltd (AEC) Also Ashton Mining of Canada Inc (ACA) Mr. Donald Sheldon reports Contrary to the perception that the search for diamond bearing kimberlite bodies in northern Alberta has slowed, several phases of exploration work have been completed to date and field crews are presently conducting follow-up work in at least two areas where preliminary geophysical data show a number of magnetic anomalies, a considerable distance from the original Buffalo Hills discovery area. The Pure Gold, Ashton and AEC JV holds interests in 26 million acres covering a large portion of the Buffalo Head craton. Pure Gold's interest varies from 15 per cent in the original discovery area to 49 per cent in the surrounding Cayo Lands. Since January 1998, on the Cayo Lands alone, approximately 213,000 line kilometres of high resolution airborne magnetic surveys employing three separate contractors have blanketed most of the claim blocks covering the Buffalo Head craton. The cost of this survey alone exceeds $2-million. Preliminary interpretation of the airborne data for the Caribou Mountain and Lesser Slave blocks (PUG 49 per cent, ACA 25.5 per cent, AEC 25.5 per cent) has identified, initially, at least two areas where multiple magnetic anomalies require systematic anomaly investigation and ground truthing. Presently, helicopter assisted field parties are actively exploring in the Caribou Mountain and Lesser Slave areas. A total budget of $3-million has been designated for this year on the above programs. Economically viable kimberlites occur commonly in ancient cratons around the world. The Buffalo Head craton has shown to host large carrot shaped kimberlite bodies. In the Buffalo Hills area, out of 23 kimberlite bodies identified to date, 16 carry diamonds. One of the kimberlite bodies discovered previously, K-14, has recovered a 1.33 carat diamond from a small sample. Pure Gold believes that the Buffalo Head craton provides the ideal geological environment to host economically viable diamond deposits.

To: Rocket Red who wrote (394)	9/11/1998 9:23:00 AM
From: Famularo	Read Replies (1) \| Respond to of 930

Buffalo Head Land position increased Pure Gold Minerals Inc PUG Shares issued 26,379,471 Sep 10 close $0.28 Fri 11 Sept 98 News Release Also Blackrun Ventures Inc (BKV) Also Ashton Mining of Canada Inc (ACA) Mr. Donald Sheldon reports The company has acquired all of the property interests that are held by Blackrun Ventures Inc. in northern Alberta. The interests in these properties vary from 25 per cent to 50 per cent in a total of approximately 3.4 million acres, and are primarily situated in the Buffalo Hills area in northern Alberta. To acquire these interests, Pure Gold will make cash payments and will assign all its interests in the South African alluvial diamond joint venture with Thabex Exploration Ltd. announced in Stockwatch May 28, 1998 to Blackrun Ventures Inc. Pure Gold's management considers the potential of defining a commercial diamond deposit within the Buffalo Head Craton to be above average. Withdrawing from the South African alluvial diamond projects will enable Pure Gold to focus entirely on its exploration efforts in Alberta. The new interests acquired from Blackrun Venture Inc. in Alberta will be offered to Pure Gold's joint venture partners, Ashton Mining of Canada and Alberta Energy Corp., on a pro-rata basis.