Ashton Mining of Canada Inc.: Alberta K296 Kimberlite Diamondiferous.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--May 16, 2003 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 report that the K296 kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. on the Buffalo Hills property in north-central Alberta is diamondiferous. As reported on February 27, K296 was the first of two kimberlites discovered on the Buffalo Hills property during the 2003 winter program undertaken by 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"). Caustic caustic, any strongly corrosive chemical substance, especially one that attacks organic matter. A caustic alkali is a metal hydroxide, especially that of an alkali metal; caustic soda is sodium hydroxide, and caustic potash is potassium hydroxide. dissolution results for the diamondiferous K300 kimberlite were reported on April 22. K296 was discovered when three vertical holes were drilled into an electromagnetic electromagnetic /elec·tro·mag·net·ic/ (-mag-net´ik) involving both electricity and magnetism. electromagnetic pertaining to or emanating from electromagnetism. anomaly Abnormality or deviation. Pronounced "uh-nom-uh-lee," it is a favorite word among computer people when complex systems produce output that is inexplicable. See software conflict and anomaly detection. having approximate surface dimensions of 400 m x 400 m. Samples of core from two of the three holes were processed for diamonds at Ashton's North Vancouver North Vancouver, city (1991 pop. 38,436), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver, of which it is a suburb. Shipbuilding, woodworking, and the shipping of grain, lumber, and ore are the chief industries. laboratory by caustic dissolution. The table below presents the resulting data in square mesh sieve format. These data are insufficient to infer a diamond grade for K296.
K296 Diamond Results
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Sam- Numbers of Diamonds According to
ple Sieve Size Fraction (mm)
Wei- ------------------------------------------------------- Total
ght +0.100 +0.150 +0.212 +0.300 +0.425 +0.600 +0.850 +1.180 Dia-
(kg) -0.150 -0.212 -0.300 -0.425 -0.600 -0.850 -1.180 -1.700 monds
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275.0 83 29 8 3 2 0 0 0 125
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With the discovery of K296 and K300, the joint venture has identified a total of 38 kimberlites in north-central Alberta and confirmed that 26 of these are diamondiferous, including the three kimberlites discovered through electromagnetic 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. techniques, K252, K296 and K300. Later in the second quarter, Ashton expects to announce diamond results for the additional material collected from the K6 kimberlite during the Alberta 2003 winter program. The approximate beneficial interests of the joint venture partners are Ashton 45 percent, EnCana 45 percent, and Pure Gold 10 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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