Ashton Announces Results from K14 Mini-Bulk Sampling.VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--Nov. 11, 1997-- Ashton Mining of Canada (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :ACA ACA - Application Control Architecture .) (ME:ACA.) John S. Auston, President and 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., is pleased to provide the first diamond results from mini-bulk sampling of kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. K14 in the Buffalo Hills project, 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. . The samples, totalling 27.42 tonnes in weight, are from reverse circulation drill holes (8.17 tonnes) and surface pits (19.25 tonnes). The seven vertical holes were drilled at 25 metre centres along an east-west line 150 metres in length in the south-central portion of the main K14 magnetic anomaly Magnetic Anomaly may refer to:
Kimberlite Sample Hole Dry Weight of Carats/100t.
Sample Type Length Sample Stones greater for Stones
Number (m) Weight than 0.8 mm greater than
(t) (carats) 0.8 mm
K-14-1 RC 88.4 1.11 0.74 67
K-14-2 RC 86.9 1.07 0.19 18
K-14-3 RC 88.2 1.10 0.12 11
K-14-4 RC 98.8 1.34 1.18 88
K-14-5 RC 86.7 1.07 0.48 45
K-14-6 RC 89.7 1.22 0.09 7
K-14-7 RC 94.3 1.26 0.19 15
Total 8.17 2.99 36
Kimberlite Sample Hole Dry Weight of Carats/100t.
Sample Type Length Sample Stones greater for Stones
Number (m) Weight than 0.8 mm greater than
(t) (carats) 0.8 mm
K14 Pits 1-5 Pits Surface 19.25 1.87 10
All results indicate a high variability in diamond content over relatively short distances. Generally the diamond contents of the pits are lower than those of the drill holes. The drill hole samples collected over 150 metres horizontally and up to 90 metres vertically are more representative of K14 than are the pit samples which were collected from surface. The drill hole data should be considered a more reliable indication of the commercial potential of the K14 kimberlite. The five largest stones recovered weigh 0.60, 0.30, 0.28, 0.21 and 0.18 carats. Many of the diamonds are colourless colourless or US colorless Adjective 1. without colour: a colourless gas 2. dull and uninteresting: a colourless personality 3. , and there are some coloured stones as well. The sample size is too small however, to make any definitive comment on quality. There is some evidence of breakage of stones resulting from the drilling process, although the larger stones noted are whole. The results are an encouraging indication that kimberlite K14 contains a population of diamonds of commercial size. Considerably larger samples are required to accurately determine the grade and quality of the diamonds and hence the commercial potential of the deposit. Ashton Mining of Canada Inc. (ACA.TSE/ME) and Pure Gold Resources Inc. (PUG.TSE) have an option agreement with Alberta Energy Company Ltd. of Calgary (AEC AEC US Atomic Energy Commission Noun 1. AEC - a former executive agency (from 1946 to 1974) that was responsible for research into atomic energy and its peacetime uses in the United States Atomic Energy Commission .TSE and AOG/NYSE) whereby Pure Gold and Ashton have the right to earn interests of 15 percent and 42.5 percent respectively in the Buffalo Hills Property. Total landholdings, including option and joint venture lands, comprise 28.3 million acres in north central Alberta Central Alberta (also named Alberta's Heartland) is a region located in the Canadian province of Alberta. Central Alberta is the most densely populated rural area in the province. Agriculture and energy make up an important part of the economy. . Ashton is operator of the related exploration programs. 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 40.1 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 or Ashton Mining of Canada Inc. Wayne D. Hillier, 604/983-7750 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion