DIAMOND PAGE — Ashton uncovers small kimberlite body in

A small kimberlite body in the Crystal Falls area of southwestern Michigan has been uncovered by Ashton Mining of Canada (TSE). The company has a 51% interest in the project.

President David Hurburgh said that while the discovery reinforces the exploration potential of the area, he does not attach any economic significance to the occurrence at this early stage.

The company continues to evaluate kimberlite indicator mineral trails in the upper peninsula of Michigan. A microdiamond was recently recovered from glacial material collected on one such trail and results from further sampling are awaited.

Geophysical surveys have been conducted in the region, which revealed the presence of about 75 anomalies. Ground magnetic surveys and land acquisition programs are under way.

Ashton Mining of Canada is owned 60% by Ashton Mining of Australia, a co-owner of the Argyle diamond mine in that country. The Canadian division plans to continue exploring for diamonds in various provinces and regions, including the Northwest Territories.

Exploration this year on the Michigan project will focus on evaluation by ground geophysical surveys, followed by drilling where warranted. The company also is carrying out regional sampling in several new areas within Canada. Northwest Territories

* Winslow Gold (VSE) and partner Northwind Ventures (VSE) have entered an agreement with SouthernEra Resources (TSE) whereby each company will exchange a 20% interest in their respective properties in the Beniah Lake area near Lac de Gras. The ground is 130 km northeast of Yellowknife.

Winslow and Northwind have also entered an option agreement, according to which Winspear Resources (VSE) can earn a 25% interest in the property by paying $25,800 in cash, issuing 10,000 common shares and spending $150,000 on exploration prior to Aug. 1, 1994.

* Mill City Gold Mining (VSE) has negotiated a private placement of 2.5 million units at $1.60 each with three brokerage firms. A unit consists of one share and half of a purchase warrant. Two warrants and $1.75 can be redeemed for an additional share prior to Aug. 31, 1994. Proceeds will be used to increase working capital and fund exploration on the company’s various diamond projects.

* Leeward Capital (ASE) will soon begin drill-testing several targets near Angikuni Lake, in the vicinity of Dubawnt Lake. Leeward has a 60% interest in the project, with Connecticut Development (VSE) holding 20% and Royal Bay Gold (VSE) the balance. When this program is complete, the drill will be moved to test targets on ground held by Leeward and Westwin Ventures (VSE). In the Lac de Gras area, at Clinton-Colden Lake, Leeward has acquired additional property in excess of 20,000 hectares.

Alberta, Saskatchewan and Manitoba

* Marum Resources (ASE) reports that a composite sample collected from its JD-2 pipe on the Pinhorn property in southern Alberta contains anomalous gold values. Fire assays have yielded values of up to 1 gram gold per tonne. Based on these initial results, additional samples will be taken as soon as weather permits.

* Australian mining giant CRA has entered an agreement with Manitoba Mineral Resources, a Crown corporation, to explore for diamonds on two large permits near The Pas, Man.

Ontario and Quebec

* Lab analysis of a small kimberlite sample from Consolidated Ojibway’s (ME) Le Sueur property in northern Quebec has yielded G-10 and G-12 (eclogitic) garnets, as well as magnesium ilmenites. Electron microprobe analysis of the grains is under way.

* Partners Explorations Diabior (ME) and Soquem have begun drill-testing 12 aeromagnetic targets on their Demaraisville project in the Le Tac area of Quebec. The former can earn a half interest by providing the exploration funds.

* Consolidated Oasis Resources (ME) and Orient Resources (ME) report that drilling has begun on their Timiscarat project in Quebec’s Guigues, Nedelec and Baby twps. Three magnetic anomalies with coincident indicator mineral signatures will be tested.

* Drilling is to begin soon on Tandem Resources’ (ME) Guibord Twp. property, 64 km north of Kirkland Lake, Ont. More than 70 reverse circulation holes will test various geophysical anomalies. (The company is also awaiting results from reconnaissance surface sampling on its property near Montreal.) * Findore Minerals (CDN) and Regal Goldfields (CDN) have terminated their option and joint-venture agreement on the latter’s Alfie Creek-02 kimberlite pipe near Kirkland Lake.

* Noront Resources (VSE) and Blue Emerald Resources (VSE) have entered an amended agreement with Chesbar Resources (TSE) covering each company’s optioned project with Orbite Exploration V.S.P.A. (ME) in Le Tac Twp. In return for exploration expenditures of $200,000, Chesbar can earn a 60% interest in each of the two properties held by Noront and Blue Emerald, both of which will retain a 9% interest. Both companies have the option to back in for up to half of the Chesbar interest by providing additional exploration funding. An airborne magnetic survey on the 222-claim property outlined 15 anomalies thought to represent kimberlites.

Noront also reports that preliminary sampling on its 15,000-hectare property near Montreal has located sites containing indicator minerals. The company says an indicator mineral containing two microdiamonds was found at one site. Overseas

* Ocean Diamond Mining Holdings, a subsidiary of Menora Resources (ME), has begun trading on the Namibian Stock Exchange. The company is mining diamonds from marine concessions off the Namibian and South African coastlines. * In Zaire, the second phase of development on Wye Resources’ (CDN) 100-sq.-km alluvial diamond concession is ahead of schedule. The first shipment of stones from the property is expected in February. * TNK Resources (TSE) has raised $535,000 through the exercise of outstanding warrants. The funds will be used to fund exploration on the company’s 11 exploration licences in Botswana. There are at least three known kimberlites on TNK’s holdings, which cover about 971,280 hectares.

* Redaurum Red Lake Mines (TSE) has been granted an additional exclusive prospecting order in Zimbabwe. Redaurum now holds a half interest in five such orders and has lodged applications for a further nine areas. The Redaurum joint venture has begun a 30-month, $1.1-million exploration program on the concessions.