DIAMOND PAGE — Ashton keeps faith at Buffalo Hills

Diamond explorer Ashton Mining of Canada (ACA-T) has identified four new drill targets on the Buffalo Hills joint venture plus four others on the surrounding Cayo lands in northern Alberta.

The announcement follows a summer program of heavy mineral sampling, ground magnetic and electromagnetic geophysical surveys, and an airborne EM survey.

Further drilling of kimberlite BH-225, discovered in February, is planned for this winter. Analysis of a 96.4-kg sample from the pipe yielded five macrodiamonds (exceeding 0.5 mm in at least one dimension) and 67 micros.

The Buffalo Hills joint venture consists of five properties totalling 2.3 million ha.

The project is a joint venture among Ashton, Alberta Energy (AEC-T) and Pure Gold Minerals (PUG-T). Ashton and Alberta Energy each hold a 45% interest; Pure Gold, the remainder.

At the 21.3-million-acre Cayo land package, Ashton is preparing to drill two isolated circular anomalies on the Caribou Mountains property, 120 km north of Buffalo Hills. Down-ice from these anomalies, a till sample returned several hundred indicator minerals, and a stream-sediment sample was found to contain a diamond with a maximum dimension of 0.75 mm. Aeromagnetic surveys will be flown over the Cayo lands in October, prior to drilling.

Ashton and Alberta Energy each hold a 35% stake in the Cayo package, leaving Pure Gold with 30%.