Ashton Mining launches winter exploration work

Ashton Mining of Canada (ACA-T) is gearing up for ground geophysical work at the Star, Roundrock and Cross properties in the Far North.

The company, which holds varying interests in some 2,200 sq. km of ground in the Northwest Territories and Nunavut through the Slave Regional, Lupin and CR-LL joint ventures, is targeting unexplained indicator mineral anomalies.

Meanwhile, Ashton reports that a kimberlite found on the Ric property in Nunavut has proved barren.

The outcropping Hydra pipe was discovered last fall on the shore of a lake. A 182-kg sample of the hypabyssal kimberlite failed to yield any diamonds. Nonetheless, Ashton says it will continue to explore the property as results from further till sampling and an airborne magnetic survey indicate potential for additional discoveries.

Ashton holds an approximate 85% interest in the Ric property, which sits 250 km northwest of the Ekati diamond mine. Pure Gold Minerals (PUG-T) holds the remaining interest.

Farther south, in north-central Alberta, the company continues to persevere in its hunt for an economic kimberlite pipe.

Drilling is under way in an attempt to test a minimum of five targets on the Buffalo Hills and Rabbit Lake properties, and two on the Caribou Mountains property, 120 km north of Buffalo Hills. Down-ice of the Caribou anomalies, a previously reported till sample returned several hundred indicator minerals, whereas a nearby stream-sediment sample was found to contain a macrodiamond with a maximum dimension of 0.75 mm. (A macro is defined as exceeding 0.5 mm in at least one dimension.)

Ashton will also test the diamondiferous BH225 kimberlite, discovered last year in the K14 project area. BH225 was found under 34 metres of overburden. A 96.4-kg sample yielded 5 macros and 67 micros. The two largest stones recovered measured 1.4 by 0.6 by 0.5 mm, and 1.1 by 0.6 by 0.6 mm. The kimberlite body has a magnetic signature measuring about 125 by 100 metres.

Ashton recently drill-tested and trenched three lower-priority aeromagnetic anomalies on the Athabasca property near Fort McMurray. No kimberlite was found. Two of the anomalies were explained by high concentrations of magnetic minerals in the sedimentary bedrock; the third remains unexplained.

Since 1997, Ashton has discovered 32 kimberlites in the Buffalo Hills region of northern Alberta. Of these, 20 are diamond-bearing.

The Buffalo Hills project is a joint venture among Ashton, Alberta Energy (AEC-T) and Pure Gold. Ashton and Alberta Energy each hold a 44.7% interest in the central 5.5-million-acre land package that includes the Buffalo Hills, Birch Mountain, Loon Lake, Muddy River and Rabbit Lake properties. The remainder is held by Pure Gold.

The outlying Cayo Package, which includes the Caribou Mountains property, has been reduced to 6.1 million acres from a previously held 21.2 million acres. Ashton and Alberta Energy each hold a 35% stake, leaving Pure Gold with a 30% interest.