Ashton, Soquem do Foxtrot

Partners Ashton Mining of Canada (ACA-T) and Soquem wrapped up winter drilling on their Foxtrot property in north-central Quebec with the discovery of four kimberlitic bodies, bringing to six the number found to date.

The six kimberlitic bodies are clustered in a small area of the 1,536-sq.-km property in the Otish Mountains region. The four new discoveries occur within 1 km of the diamond-bearing Renard 2 body, which itself sits 1 km south of the diamondiferous Renard 1. Ashton tested each new discovery with one vertical hole and one hold angled at minus 50. The new kimberlites were encountered under overburden cover ranging from 6 to 22 metres.

With the exception of Renard 5, all vertical holes were stopped short in kimberlite at 102 metres of depth, owing to budgetary constraints. Renard 5 was tested by a near-vertical hole of minus 80 that cut 94 metres of kimberlitic rock before exiting into country rock at 107 metres down-hole. All the angle holes exited the bodies at varying depths.

The angle hole drilled at Renard 3 intercepted 86 metres of kimberlite before hitting country rock at 110 metres down-hole; the Renard 4 angle hole cut 78 metres of kimberlite before exiting at 88 metres down-hole; the angle hole at Renard 5 pulled only 18 metres of kimberlite, passing into country rock at a down-hole depth of 34 metres; and the Renard 6 angle hole intersected 78 metres of kimberlite, exiting the body at 85 metres down-hole. The drilling results suggest the Renard bodies are pipe-like structures.

Analyst John Kaiser, publisher of the Bottom Fishing Report, suggests the Renard 3, 4 and 6 discoveries could range between 110 and 140 metres in diameter, with the potential for a combined resource of 7.9 million tonnes to a depth of 102 metres. Kaiser assumes the discovery holes were drilled in the centre of a circular geophysical anomaly and that the kimberlite bodies are pipes with near vertical walls. The Renard 5 body is a little more difficult to gauge, as the discovery and follow-up angle may have been drilled near the edge of the kimberlite. At worst, Renard 5 is a skinny pipe with a diameter of only 38 metres.

The Renard 4, 5 and 6 discoveries contain both hypabyssal and diatreme facies material, whereas Renard 3 consists solely of hypabyssal material. Microdiamond results from the recently completed drilling are expected toward late June.

Ashton and Soquem jointly hold more than 3,800 sq. km of mineral permits in north-central Quebec.

In related news, partners Canabrava Diamond (CNB-V) and Majescor Resources (MAJ-V) have delayed drilling on their Mistassini project so that they can assess magnetic targets by means of ground work.

Airborne geophysical surveys totalling 9,224 line km have been flown over the 1,710-sq.-km project, which lies roughly 180 km southwest of the Renard discoveries. The airborne magnetic surveys have generated some 77 anomalies. Majescor will follow up on the higher-priority targets with glacial sediment sampling, prospecting and geological mapping before any of the targets are drilled.

Canabrava can earn a half-interest in the project by spending $1.3 million on exploration work over three years.