Ashton cuts new Kim kimberlite, ups Artemisia area

Ashton Mining of Canada (ACA-T) has found another kimberlite, dubbed Thrift, on the Kim property in the north Slave craton region of Nunavut.

The Thrift kimberlite, about 2.5 km southwest of the Artemisia kimberlite pipe, was identified by this winter’s airborne geophysical survey. The anomaly measures 100 metres in diameter. Kimberlite was found in outcrop and float on opposite shores of a lake measuring 75 metres in diameter.

Back at Artemisia, Ashton has collected nearly 11 tonnes of material from 7 core holes. Three angled holes (58-75 from horizontal) were drilled from the same spot as the discovery hole. A single vertical hole and three other angled holes were collared about 50 metres to the north-northwest.

Three of the holes were terminated in kimberlite at depths great than 200 metres. Ashton says that the latest drill results confirm that Artemisia has a vent-like shape and is larger previously thought. The pipe is now believed to measure 150 by 250 metres.

Samples of material from Thrift and drill core from Artemisia are on their way for microdiamonds analysis by caustic dissolution at Ashton’s laboratory in North Vancouver. Results are expected in the third quarter.

Earlier this year, a small surface sample of kimberlite float and outcrop from Artemisia returned lower-than-expected macrodiamond results.

The 1,157-kg sample yielded just 0.2 carat of diamonds greater than a bottom-size 0.8-mm square mesh screen cutoff, for an implied grade of just 0.17 carat per tonne. The largest stone, a colourless octahedral aggregate, measures 2.25 by 1.75 by 1.35 mm. The next two largest stones were whole colourless crystals that measured 2.05 by 1.93 by 1 mm and 2.05 by 1.38 by 1.2 mm.

The sample was derived from three separate sites over an interpreted 150-by-140-metre body. Ashton said the sample size and its limitation to the surface limit the significance of the results.

Kim is one of four properties held under the Slave regional joint venture between Ashton and Pure Gold Minerals (PUG-T). Ashton holds a 90% interest in the joint venture, with Pure Gold holding the remainder.

Meanwhile in north-central Alberta, results from the latest mini-bulk sample have prompted Ashton to stop work on the K6 kimberlite on the Buffalo Hills property.

The 5.7-tonne sample was collected from a single hole drilled into the centre of a ground gravity anomaly some 100 metres south of a previous mini-bulk sample, which returned an estimated diamond content of 6.3 carats per 100 tonnes. The newest results yielded an estimated diamond content of 9.4 carats per 100 tonnes with the largest stone weighing 0.16 carat.

The kimberlite was discovered in 1997 and lies 500 metres southeast of the K252 kimberlite body. Based on the results, Ashton is not planning further work on the K6 body.

Both Ashton and Alberta Energy Company, a subsidiary of EnCana (ECA-T) hold 45% interest in the Buffalo Hills property. Pure Gold has the remaining 10% stake.