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Gold/Mining/Energy : AOT just doubled anyone know why ? -- Ignore unavailable to you. Want to Upgrade?

To: Gord Bolton who wrote (61)	1/25/1999 8:14:00 PM
From: kidl	Respond to of 62

Ascot and Major General release more Snow Owl sampling results Major General Resources Ltd MGJ Shares issued 36,965,680 Jan 25 close $0.26 Mon 25 Jan 99 News Release See Ascot Resources Ltd (AOT) News Release Mr. Ken Carter reports Results of diamond analysis on additional sample material from the Snow Owl kimberlite pipe have been received. An additional 15 microdiamonds have been recovered from the Snowy Owl pipe which has now returned a total of 90 diamonds in an 88 kilogram sample. The extra eight kg of sample material was processed at the De Beers research laboratory in Johannesburg, South Africa. The average diamond count for the Snowy Owl pipe of 1.02 diamonds per kg of sample compares favourably with the initial exploration results from the Dia Met and Aber/Diavik kimberlites. The 88 kg sample was derived from one percussion drill hole that only penetrated 12 metres into the Snowy Owl pipe. De Beers has proposed an initial eight to 10 hole core drilling program that is scheduled to commence in early April of this year. Drilling will test the Snowy Owl pipe as well as other kimberlites on the Victoria Island property, Northwest Territories. Exploration will also consist of detailed high resolution magnetic surveys and De Beers estimates that a minimum of $400,000 will be expended on this initial program. The following table outlines the range of diamond sizes that were returned from the Snowy Owl pipe. The sizes were determined by sieving through square mesh screens. De Beers is undertaking to measure the diamonds according to the Canadian convention, therefore several of the stones may be macrodiamonds according to this convention. Range of Diamond Size No. of Square Mesh (mm) Diamonds 0.5 -0.3 2 0.3 -0.21 6 0.21 -0.15 8 0.15 -0.105 23 0.105-0.074 33 less than 0.074 18 --------------------------------- Total 90 Studies conducted by De Beers have shown that the Snowy Owl kimberlite pipe consists of both volcanic crater and hypabyssal facies. The presence of the crater facies material indicates that the upper portion of the kimberlite body is present and that much of the original kimberlite should be preserved at depth. Fragments of limestone and shale suggest that the kimberlite has passed through a substantial sequence of sedimentary rocks during its emplacement. Over 1,100 indicator mineral grains from Snowy Owl have been analyzed by electron microprobe. These indicator mineral grains consist of an abundant garnet population that includes a number of subcalcic, harzburgitic garnets as well as high chrome lherzolitic garnets. Furthermore, some of the eclogitic garnets have high Na2O and TiO2 contents which are consistent with eclogitic diamond inclusions. These results indicate that there is the potential for two sources of diamonds as both peridotitic and eclogitic mantle have been sampled within the diamond stability field. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com