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

To: Famularo who wrote (6181)	9/9/1998 2:20:00 PM
From: Jesse	Respond to of 7966

Frank, the Argyle's recognized further potential was discussed here back in July. A story linked earlier follows-- [from: Message 5250922 ] "Argyle Joint Venture announce further AK1 open pit development Business Wire - June 23, 1998 10:30 LONDON--(BUSINESS WIRE)--June 23, 1998--RIO Tinto plc (NYSE:RTP) announced today that the Argyle Diamond Mines Joint Venture parties, Rio Tinto (57%), Ashton (38%) and Western Australian Diamond Trust (5%), today approved the first stage of further development of the AK1 open pit mine in Western Australia. This requires pre-stripping approximately 100 million tons of waste to access an additional 17.6 million tons of open pit ore at an average grade of 2.58 carats per ton (cpt). This gives estimated AK1 open pit mining reserves as at June 30, 1998, of 64 million tons at 2.58 cpt. Work on the pit extension is scheduled to commence immediately. The decision follows studies considering a range of mine life extension options. It reflects the partner's expectation that further extensions of open pit operations are likely at Argyle based on this work. Scheduling and costing is already in progress to detail a second stage of pit development and this work is expected to be complete during the second half of 1998. This positive outlook for the Argyle operation has been made possible by a sustained focus on improving operating efficiencies and reducing costs. Underground development of Argyle remains a possibility at a later date, once the full open pit potential has been realised. CONTACT: RIO TINTO Peter Darling, Media Relations 011-44-171-753-2355 or Gavin Anderson & Company Jason Kendy, 212-373-0200 " -from here: newsalert.com _______ regards :> PS-- thanks also Pete M. for the info and links!