Kikerk Lake find carries diamonds

A kimberlite found this past spring by Ashton Mining of Canada (ACA-T) has proved diamond-bearing. The discovery was made on the Kikerk Lake joint-venture property in the Coronation Gulf district of Nunavut.

A 105.4-kg core sample of the Stellaria kimberlite returned 66 microdiamonds and 13 macros, including a single stone exceeding 0.5 mm in two dimensions. (A macro exceeds 0.5 mm in one dimension.) The largest stone measures 0.8 by 0.6 by 0.4 mm.

The geophysical signature of Stellaria measures 160 by 50 metres, and it occurs along a 2-km-long linear geophysical feature. The discovery hole into Stellaria went through 20 metres of glacial overburden, followed by 35 metres of dolomitic limestone, before hitting 39 metres of hypabyssal kimberlite. The vertically drilled hole exited the kimberlite body at a depth of 94 metres and terminated in limestone at 129 metres of depth.

Ashton and its joint-venture partners, Northern Empire Minerals (NEM-V) and Caledonia Mining (CAL-T), will test Stellaria and the associated linear feature with further drilling this summer to determine if it is a structurally controlled dyke.

Stellaria is 700 metres east of the diamondiferous Potentilla kimberlite, which was discovered last fall. A 207.8-kg aggregate drill sample of two distinct kimberlite facies carried 230 micros and 22 macros. A 5.5-tonne mini-bulk drill sample of Potentilla was collected this spring to test the potential for larger commercial size stones. Results are expected before the end of August.

Potentilla has a surface expression measuring 110 by 50 metres.

A summer program of prospecting and heavy mineral sampling, scheduled to begin in late July, will investigate subtle indicator mineral sites on the Kikerk Lake property, as well as geophysical targets interpreted from an airborne survey completed earlier in the year.

Several prominent unexplained indicator mineral anomalies in the immediate area of the Potentilla and Stellaria kimberlites are being targeted for further work.

Kikerk Lake is held 52% by Ashton, 30% by Northern Empire and 17.5% by Caledonia. Ashton can increase its interest to 59.5% by carrying Caledonia through to completion of a feasibility study. Northern Empire retains its 30% participating interest.