Ashton finds kimberlite in Coronation Gulf

Ashton Mining of Canada (ACA-T) has found a new kimberlite exposed in outcrop on the Kim property in the north Slave region of Nunavut.

The newly dubbed Thrift kimberlite was found in outcrop and float on opposite sides of a lake measuring 75 metres in diameter while investigating a magnetic anomaly identified from an airborne geophysical survey completed earlier this year. Its corresponding magnetic signature is roughly 100 metres in diameter.

The Thrift kimberlite is 2.5 km southwest of the diamond-bearing Artemisia, where Ashton just finished collecting an 11-tonne mini-test sample from seven core holes. Based on the recent drilling, Artemisia is now interpreted to be much larger than initial estimates, measuring 250 by 150 metres to cover about 3 hectares.

The Kim property is part of the Slave Regional joint venture, in which Ashton has a 90% interest and Pure Gold Minerals (pug-t), the remainder. The partners have picked up another property, 75 km east of the Artemisia kimberlite, based on a discreet indicator mineral anomaly.

In Alberta, a 15.7-tonne mini-bulk sample of kimberlite K6 yielded a 0.539 carat parcel of diamonds larger than 0.8 mm in two dimensions, for an implied grade of 9.4 carats per 100 tonnes. The two largest diamonds recovered are gray composite crystals which weigh 0.157 and 0.117 carat, respectively. No further work is planned.

Ashton and EnCana (ECA-T) each hold a 45% interest in the Alberta diamond project, with Pure Gold holding the remaining 10%.