Ashton Commences Drilling in Alberta.VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--Jan. 16, 1997-- Ashton Mining of Can (TSE/ME:ACA ACA - Application Control Architecture .) 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 announce that the drilling of targets in north-central Alberta has commenced. The initial program is scheduled to test ten isolated geophysical anomalies which have characteristics identical to those associated with kimberlite- style volcanism volcanism or vulcanism Any of various processes and phenomena associated with the surface discharge of molten rock or hot water and steam, including volcanoes, geysers, and fumaroles. . Earlier work by a competitor company has identified a kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. intrusion in the vicinity. Recently the Alberta Geological Survey released a report on a diamond indicator anomaly in two samples of glacial till from a site within the extensive land holdings on which the Ashton program will be undertaken. The report describes identification of a large number of pyrope py·rope n. A deep red garnet, Mg3Al2Si3O12, used as a gem. [Middle English pirope, from Old French, from Latin garnets in the till. The recognition of these quantities of indicator minerals is encouraging, although the specific source of the mineral grains is not readily predictable because of the potentially complex glacial history of the area. As reported previously, Ashton and Pure Gold Resources Inc. have entered into an option agreement with a large Alberta energy company whereby Pure Gold has funded the first $500,000 and Ashton has the option to fund the next $5 million to earn interests of 15 percent and 42.5 percent interest respectively, following which the three companies would form a joint venture. Ashton is operator of the program. The group's holdings of mineral rights in Alberta have been expanded recently by staking additional ground, and now encompass approximately 3.3 million acres in the Buffalo Hills area. 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 or Ashton Mining of Canada Inc. Wayne D. Hillier, 604/983-7750 |
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