Ashton encouraged at Cross

Fifteen diamond drill holes, both vertical and inclined, have been completed at the Cross kimberlite target area in the Northwest Territories and three additional holes have been drilled in the southern part of the property, Ashton Mining of Canada (TSE) reports.

Vancouver-based Ashton, which became publicly listed in Canada last year and whose officers were in Toronto recently to stage their first annual meeting, says one macrodiamond (greater than 0.5 mm in size) and 34 microdiamonds have been recovered from five composite core samples. “Some of the microdiamonds reported are fragments as the result of fracturing of larger diamonds,” the company stated in a press release. “The drill rig is currently drilling deep holes to recover additional diatreme facies material.” Ashton, whose partners in the project are Pure Gold Resources (TSE) and Tenajon Resources (VSE), reported in late March the intersection of kimberlite breccia at Cross.

“The results recovered to date give us encouragement” to continue the drilling program, President David Hurburgh told shareholders. Ashton has a second rig active in the Northwest Territories at the Dick 1 and Humpy 1 and 2 properties, where eight holes have been drilled. No kimberlite rocks have been intersected.

In northern Ontario near the Quebec border, Ashton’s joint-venture partner, KWG Resources (ME), recovered two macrodiamonds and seven micros from drill core. KWG says kimberlitic material has been encountered 380 metres along a trend from the initial discovery; a relationship between the two occurrences has not yet been determined.

In Saskatchewan, Ashton has formed a joint venture with Winslow Gold (VSE) to explore property in the Candle Lake-Fort a la Corne area.

Ashton Canada is 60% owned by Ashton Mining of Australia, operator of the large Argyle diamond mine. The chairman of Ashton is David Robertson, who, as president of the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), presided over the annual CIM conference in Toronto the week of the annual meeting.