Ashton Mining of Canada Inc.: 2004 Buffalo Hills Program Commences.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 26, 2004 Robert T. Boyd, 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. ("Ashton") is pleased to announce that Ashton and its joint venture partners, EnCana Corporation EnCana Corporation is one of the largest independently owned oil and gas companies in the world. In both 2003 and 2004 it was Canada's most profitable company, with approximately $3.5 billion (U.S.) in profits on $12.2 billion in revenue. ("EnCana") and Pure Gold Minerals Inc. ("Pure Gold"), have commenced the 2004 exploration program on the Buffalo Hills property in north-central Alberta. The program will focus on the investigation of airborne geophysical ge·o·phys·ics n. (used with a sing. verb) The physics of the earth and its environment, including the physics of fields such as meteorology, oceanography, and seismology. anomalies through ground geophysical surveys Geophysical survey refers to the systematic collection of geophysical data for spatial studies. Geophysical surveys may use a great variety of sensing instruments, and data may be collected from above or below the Earth's surface or from aerial or marine platforms. in the winter followed by the summer drilling of high priority targets identified through this work. Since 2001, the joint venture has discovered three diamondiferous kimberlites, K252, K296 and K300 characterized char·ac·ter·ize tr.v. character·ized, character·iz·ing, character·iz·es 1. To describe the qualities or peculiarities of: characterized the warden as ruthless. 2. by strong electromagnetic electromagnetic /elec·tro·mag·net·ic/ (-mag-net´ik) involving both electricity and magnetism. electromagnetic pertaining to or emanating from electromagnetism. signatures and weak magnetic responses. A 22 tonne tonne measure of weight or mass; 1 tonne=1000 kg. See also ton. mini-bulk sample collected from K252 in 2001 returned an estimated diamond content of 55 carats per hundred tonnes. In late 2003, the joint venture undertook a 10,500 line kilometre airborne electromagnetic/magnetic survey over portions of the Buffalo Hills property not previously investigated using this method. This survey identified a number of electromagnetic anomalies. During the winter portion of the current program, ground geophysical surveys will be completed over approximately 10 of these anomalies. High priority anomalies confirmed as a result of this work will be drilled during the summer. At December 31, 2003, the approximate beneficial interests of the joint venture partners were Ashton 45 percent, EnCana 45 percent, and Pure Gold 9.7 percent. Ashton and EnCana are funding the estimated $650,000 cost for 2004 program in equal amounts with Pure Gold diluting its interest to approximately 9.5 percent. Ashton is the operator of the exploration programs and Brooke Clements, Professional Geologist and Ashton's Vice President, Exploration, is responsible for their design and conduct, and the verification and quality assurance of analytical results. |
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