Ashton Mining of Canada Inc.: Quebec Winter Field Program Update: Mini-Bulk Sample Complete, New Kimberlitic Discovery.Business Editors 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. , British Columbia--(BUSINESS WIRE)--March 28, 2002 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") (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :ACA ACA - Application Control Architecture ) is pleased to provide an update on the winter 2002 field program in the Otish Mountains region of Quebec. Ashton and its joint venture partner, SOQUEM INC. ("SOQUEM"), have completed the collection of a small mini-bulk sample from the diamondiferous Renard 2 kimberlitic intrusion and discovered a new kimberlitic body. Renard 2 Mini-Bulk Sample The Renard 2 kimberlitic body was discovered in late 2001 and favorable microdiamond results were reported on December 17 of that year. In the current program, the joint venture collected a sample of approximately two tonnes from four core holes drilled into Renard 2. The sample will be processed for macrodiamonds through Ashton's dense media separation plant. Results are expected in the second quarter. New Kimberlitic Discovery The first 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. target drilled during the current program has been confirmed as the third kimberlitic intrusion on the joint venture property. Named Renard 3, this body is located 200 metres east-southeast of Renard 2. A vertical drill hole intersected kimberlitic rock under 22 metres of overburden o·ver·bur·den tr.v. o·ver·bur·dened, o·ver·bur·den·ing, o·ver·bur·dens 1. To burden with too much weight; overload. 2. To subject to an excessive burden or strain; overtax. n. 1. . At the time of preparation of this news release, the drill had reached 90 metres and was still in kimberlitic material. A second drill hole at Renard 3 is planned. After completion of drilling at Renard 3, the program will continue with the drilling of additional geophysical targets. Ashton will report further results after the completion of the program in late April. Ashton and SOQUEM have been exploring for diamonds in Quebec since 1996 in an equal joint venture that currently holds more than 380,000 hectares of highly prospective mineral permits. SOQUEM is a wholly-owned subsidiary of SGF SGF Svenska Golfförbundet (Swedish Golf Federation) SGF Société Générale de Financement (Quebec, Canada) SGF Smart Game Format SGF Simulated Gastric Fluid Minerals Inc., which is a subsidiary of the Societe Generale de Financement du Quebec ("SGF"). The mission of the SGF is to carry out economic development projects in cooperation with partners and in accordance with accepted requirements of profitability. 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. |
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