Pure Gold Resources - 1995 Exploration Update.VANCOUVER, BC--(BUSINESS WIRE)--Nov. 28, 1995--PURE GOLD RESOURCES(TSE See Tokyo Stock Exchange.
1. See Tokyo Stock Exchange (TSE).
2. See Toronto Stock Exchange (TSE). : PUG ) Donald R. Sheldon, President of Pure Gold Resources Inc. ("Pure Gold") reports that the Company has been updated on 1995 exploration activities and results of the joint venture with Ashton Mining of Canada Inc. ("Ashton") in 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. . The program has been focused on exploring for diamonds, gold, and base metals since 1992.
Ashton collected 337 samples this season on the Cross Property which has lead to the discovery of two new kimberlites bringing the total to three discovered on the Cross Property to date. From the "Ursa pipe, Ashton has recently announced four microdiamonds which were recovered from 150 kg of material treated by Ashton's microdiamond testing process. Additionally, 1 macrodiamond of approximately 0.6mm diameter was recovered from 2 tonnes of material processed through Ashton's Dense Media Separation (DMS (1) (Document Management System) See document management.
(2) (Defense Messaging System) An X.500-compliant messaging system developed by the U.S. Dept. of Defense. ) plant.
The DMS unit is designed to recover macro and commercial sized diamonds. The results indicate that although the kimberlite kimberlite: see diamond.
or blue ground
Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. is diamondiferous, the body is unlikely to be of economic significance. Several other targets were also generated and will be the subject of further exploration on the Cross Property estimated to be budgeted at $400,000.00. The Cross Property is located in the S.W. region of the Slave Slave, river, c.310 mi (500 km) long, Northwest Territories, Canada. It comprises the middle sections of the Mackenzie River system. The river channels the waters of Lake Athabasca and the Peace River into Great Slave Lake at Fort Resolution. Province in the Northwest Territories and is a joint venture among Ashton Mining of Canada Inc., Pure Gold Resources Inc., and Tenajon Resources Corp. ("Tenajon"). Ashton can earn a 51 percent interest in the Cross property by providing all costs up to and including a 20 tonne tonne
measure of weight or mass; 1 tonne=1000 kg. See also ton. bulk sample from each kimberlite discovered. Thereafter, Pure Gold and Tenajon would hold 24 percent and 25 percent respectively.
Results from 1995 exploration programs elsewhere on the Cross Property and in other regions of the Slave Geological ge·ol·o·gy
n. pl. ge·ol·o·gies
1. The scientific study of the origin, history, and structure of the earth.
2. The structure of a specific region of the earth's crust.
3. A book on geology. Province continue to generate prospective targets. The next target is the "Orion" pipe which lies beneath a lake. Ashton has informed Pure Gold and partners as operator that they intend to drill this kimberlite when ice conditions allow in early March of 1996. Details of this work shall be released when plans are finalized See finalization. .
Ashton also plans to begin extensive drill testing of several kimberlite targets present on the "CC-LL" claims. the 267,000 acre property, located in the Snare Lake region of the Northwest Territories, is subject to a joint venture with Lytton Minerals Ltd. ("Lytton"). Pure Gold and Lytton have granted Ashton the option to earn a 51 percent interest in the block by spending a total of $1,000,000.00 on the claims. The drilling program will be coincide with the planned work on the Cross Property.
Exploration for gold and base metals has lead to discoveries on several properties. Extensive follow-up follow-up,
n the process of monitoring the progress of a patient after a period of active treatment.
follow-up plan work is planned on sampling of one property which returned values of one sample which graded 35 percent Pb, 5 percent Zn, 1.10 opt Ag and 0.06 opt Au. Management feels this may represent a new polymetallic occurrence in an area not previously recognized to host this type of mineralization Mineralization
The process by which the body uses minerals to build bone structure.
Mentioned in: Rickets
n the bioprecipitation of an inorganic substance. . Although not a party at this stage, Ashton has expressed a high level of interest in participating in this venture.
The Company continues to receive results from Ashton on gold exploration throughout the Slave Province. Favourable and encouraging results have allowed budgeting and exploration planning to commence for the upcoming exploration program in 1996. Pure Gold and partners remain committed to exploring in the Northwest Territories for diamonds, gold and base metals.
PURE GOLD RESOURCES INC.
"DONALD R. SHELDON"
CONTACT: Donald R. Sheldon