Ashton Acquires Further Lands in Alberta.VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--April 14, 1997--Ashton Mining of Can(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). , ME ACA ACA - Application Control Architecture .) Mr. John S. Auston, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Ashton Mining of Canada Inc. (Ashton) announces its decision to acquire an interest in additional mineral rights covering approximately 21 million acres (8.4 million hectares) in northern Alberta Norhern Alberta is a region located in the Canadian province of Alberta. Its primary industry is oil and gas, with large heavy oil reserves being exploited at the Athabasca Oil Sands and Wabasca Area in the east of the region. , bringing Ashton's total landholdings in the Buffalo Hills area to 26.8 million acres (10.7 million hectares). Ownership of the additional 21 million acres (8.4 million hectares) is Ashton 25.5 percent, an unidentified Alberta energy company 25.5 percent, Pure Gold Resources 9 percent and Cayo Resources 40 percent. Ashton's discovery of kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. pipes resulting from the drilling of geophysical anomalies during the past winter confirmed the prospectivity of the Buffalo Hills sub-craton. Acquisition of an interest in these additional lands secures a wider position for reconnaissance surveys of this promising region. Many anomalies of characteristics similar to those drilled initially remain to be tested, and an extended long-term program of exploration is foreseen in this new kimberlite province. The program during the coming summer will include drilling of new geophysical anomalies along with further work on the pipes identified to date. Reconnaissance surveys will comprise an initial 50,000 line kilometres of airborne geophysics and regional heavy minerals sampling. Initial results on the eleven kimberlite pipes discovered to date are expected in early May and full results six to eight weeks after that. Ashton is a diamond exploration company with interests in a wide range of properties in Canada and the United States The United States and Canada share a unique legal relationship. U.S. law looks northward with a mixture of optimism and cooperation, viewing Canada as an integral part of U.S. economic and environmental policy. . It is 62 percent-owned by Ashton Mining Limited of Australia, a leading explorer, producer and marketer of diamonds which holds an interest of 40 percent in the Argyle diamond mine The Argyle diamond mine () is a diamond mine located in the north-east of Western Australia. in northwestern Australia. CONTACT: Ashton Mining of Canada Inc. John S. Auston, 604/ 983-7750 Wayne D. Hillier, 604/ 983-7750 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion