Ashton Mining of Canada Inc.: Slave Regional Summer Exploration Program Underway.Business Editors VANCOUVER, B.C.--(BUSINESS WIRE)--July 24, 2001 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 report that a summer program is now underway on properties held by Ashton in Nunavut and the Northwest Territories Northwest Territories, territory (2001 pop. 37,360), 532,643 sq mi (1,379,028 sq km), NW Canada. The Northwest Territories lie W of Nunavut, N of lat. 60°N, and E of Yukon. under the Slave Regional Joint Venture. The program includes both drilling and heavy mineral sampling. Drilling Ashton will drill at least two high priority anomalies on the diamondiferous Perseus kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. dyke system on the Ric property in Nunavut, situated approximately 450 km north of Yellowknife. As reported on September 26, 2000, Perseus is a ten metre wide dyke dipping approximately 19 degrees to the north and oriented along a geological structure with a potential strike length of 1.4 km. Highly anomalous indicator mineral trains and kimberlite float are coincident co·in·ci·dent adj. 1. Occupying the same area in space or happening at the same time: a series of coincident events. See Synonyms at contemporary. 2. with the structure. In April 2001, a ground geophysical program conducted along the 1.4 km long structure identified a number of geophysical anomalies, one of which is located up-ice from an area where till sampling recovered a macrodiamond. The August drill program is intended to better define the dimension of the Perseus dyke and the extent of variability in its diamond content. Heavy Mineral Sampling The current program includes the collection of approximately 900 heavy mineral samples to further evaluate the Ric, Green, Kim, and Vic properties and to continue regional reconnaissance initiatives. The Green property is located in the Northwest Territories 165 km north of Yellowknife while the Kim and Vic properties are situated 20 and 60 km northwest of the Ric property, respectively. Both detailed grid sampling and property-scale sampling will be carried out on all four properties. Detailed grid sampling is intended to further assess geophysical anomalies, well-defined indicator mineral trains and areas in close proximity to known kimberlites. Property-scale sampling is expected to better define at least ten indicator mineral dispersion fans identified by previous program results and to delineate areas which warrant geophysical surveying 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 addition, regional reconnaissance sampling in both the Northwest Territories and Nunavut will focus on following up known indicator mineral anomalies. Exploration programs on the Ric, Green, Kim, and Vic properties and regional reconnaissance programs in the Slave craton The Slave craton is a relatively small Archean craton (about 300,000 km²) located in the Northwest Territories of Canada. It is dominated by ca. 2.73-2.63 Ga greenstones and turbidite sequences and ca. 2.72-2. are conducted under the Slave Regional Joint Venture in which Ashton holds an 87.3 percent interest and Pure Gold Minerals Inc. ("Pure Gold") holds 12.7 percent. Ashton is sole funding the current program and Pure Gold is diluting its interest to approximately 10.3 percent. |
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