Ashton Reports New Anomalies and Diamond Found in Alberta.VANCOUVER, B.C.--(BUSINESS WIRE)--Sept. 27, 1999-- 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. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :ACA ACA - Application Control Architecture .) (ME:ACA.)("Ashton"), is pleased to report on the 1999 summer exploration program in Alberta. The program was conducted over the Buffalo Hills/Joint Venture Lands properties and the Cayo Lands properties and consisted of heavy mineral sampling, ground magnetic and electromagnetic surveys and an airborne electromagnetic survey. Buffalo Hills/Joint Venture Lands To further define drilling targets for winter 1999/2000, extensive heavy mineral sampling and geophysical surveys were carried out over a number of anomalous areas not related to any known kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. occurrences. Ground magnetic and electromagnetic surveys were completed over 40 targets, and approximately 400 heavy mineral samples were collected. Four new anomalies are scheduled for drilling, and additional targets may be defined after further interpretation of survey data. Further exploratory drilling of kimberlite BH225, discovered in February 1999, is also planned for this winter. BH225 returned encouraging microdiamond results from a small sample as reported on April 28. The Buffalo Hills and Joint Venture Lands consist of five properties totaling 2.3 million hectares (5.7 million acres). To date 32 kimberlites have been discovered, most of which contain diamonds. The joint venturers on the Buffalo Hills and Joint Venture Lands are Ashton (ACA.TSE/ME), Alberta Energy Company Ltd. (AEC AEC US Atomic Energy Commission Noun 1. AEC - a former executive agency (from 1946 to 1974) that was responsible for research into atomic energy and its peacetime uses in the United States Atomic Energy Commission .TSE and AOG AOG Assemblies Of God AOG Aircraft On Ground AOG Association of Graduates AOG Act of God (insurance) AOG Gasoline Tanker AOG Army of God (militant anti-abortion group) AOG Air Operations Group .NYSE NYSE See: New York Stock Exchange ) and Pure Gold Minerals Inc. (PUG.TSE). The interests of the parties upon completion of currently approved programs are expected to be Ashton 45 percent; Alberta Energy 45 percent; and Pure Gold 10 percent. Cayo Lands Heavy mineral sampling and ground magnetic surveys have so far revealed four anomalies which are scheduled for drilling this winter. In particular, Ashton is encouraged by two isolated circular anomalies on the Caribou Mountains Caribou Mountains can refer to:
The Cayo Lands consist of four properties totaling 8.5 million hectares (21 million acres). The joint venturers on the Cayo Lands are Ashton (ACA.TSE/ME), Alberta Energy Company Ltd. (AEC.TSE and AOG.NYSE) Pure Gold Minerals Inc. (PUG.TSE). The interests of the parties upon completion of currently approved programs are expected to be Ashton 35 percent; Alberta Energy 35 percent; and Pure Gold 30 percent. All exploration programs are operated by Ashton under the direction of Brooke Clements, Certified Professional Geologist, Ashton's Vice President, Exploration. |
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