Ashton finds more diamonds in Artemisia (January 18, 2002)

Vancouver — The newly discovered Artemisia kimberlite pipe in Nunavut continues to yield promising microdiamond counts for Ashton Mining of Canada (ACA-T) and Pure Gold Minerals (PUG-T).

Located on the 531-sq.-km Kim property, the pipe was discovered in 2001 by following up an indicator mineral dispersion fan. Prospecting subsequently uncovered kimberlite float over an area of 140 by 150 metres. A vertical drill hole was collared in the centre of the float area and intersected kimberlite breccia to the bottom of the hole at 169.2 metres of depth.

Intitial microdiamond counts from a 103.2-kg sample collected from the core returned an encouraging 342 microdiamonds (0.1-to-0.5 mm in one dimension) and 38 macrodiamonds (at least 5 mm in one dimension). The largest stone came in at 1.23-by-1.15-by-1.1 mm. The latest results tally 470 micros and 48 macrodiamonds from a 142.8 kg sample of drill core. Surface material collected from talus and outcrop 60 metres northeast, 71 metres west, and 48 metres southeast of the drill collars, returned 309 microdiamonds and 34 macrodiamonds from a combined 85.5-kg sample.

A 1.2-tonne sample of outcropping kimberlite collected during last year’s program is currently being processed.

Farther to the southeast on the partner’s Ric property, microdiamond counts from the Perseus kimberlite dyke system were less encouraging. Perseus was discovered in 2000, after uncovering diamond-bearing kimberlite float widely distributed over a distance of 1.4 km.

Ashton sunk five holes into the Perseus target in the fall of 2000. Four of the holes were spotted from the same site; the fifth stepped out 50 metres to the east. The holes all cut 10-metre-thick intercepts of kimberlite. In total, 55 micros were recovered from 211 kg of core sample.

Ashton returned last August and further tested the dyke system with two angle holes collared at 290 and 420 metres along the interpreted strike length from the initial discovery area. Both holes encountered 10-metre-thick intervals of kimberlite, confirming Perseus is a gently dipping body that extends over a distance of at least 470 metres. A 107.4-kg sample was collected yielding 32 microdiamonds.

Additional float sample collected 1.4-km east-northeast of the discovery drill hole is currently being processed. The results are expected some time in the second quarter of the year.

The Kim and Ric properties are situated 500 km north of Yellowknife and form part of the Slave regional joint venture with Ashton holding a 90% stake. Pure Gold has the remaining 10%.