Robert T. Boyd, President and CEO of Ashton Mining of Canada Inc. ("Ashton"), is pleased to report diamond results from caustic dissolution analysis of two samples of kimberlitic boulders collected on the Foxtrot property in north-central Quebec. The samples weighed 238.7 kg and 77.2 kg and returned 594 and 289 diamonds respectively.
As reported on October 20, 2003 and April 12, 2004, Ashton and its joint venture partner, SOQUEM INC. ("SOQUEM"), discovered kimberlitic boulders on surface at three separate sites within a 2.5 kilometre wide indicator mineral dispersion now referred to as the "Lynx Anomaly". This dispersion is located approximately two kilometres west of the Renard cluster of nine kimberlitic bodies, four of which are currently the subject of a bulk sampling program.
At two locations within the Lynx Anomaly, the joint venture has identified zones of kimberlitic dykes measuring from 3.4 to 9.4 metres in width. Intersections of kimberlitic material within each hole drilled to date represent approximately 20 to 60 percent of the dyke zones. The locations of these bodies, now referred to as Lynx and Lynx North, are shown on the map that is available on Ashton's website at: http://www.ashton.ca/images/renard_maps/foxtrotkimberlites.jpg. The map also shows the locations where the kimberlitic boulder samples were collected.
The 238.7 kg sample was collected at a location approximately 100 metres southwest of the Lynx occurrence. On February 13, 2004, Ashton reported diamond results for a 3.87 tonne sample of kimberlitic boulders measuring up to two metres in size that were collected at the same site. This sample returned 4.63 carats of diamonds larger than 0.85 mm using a square aperture screen giving the sample an estimated diamond content of 1.2 carats per tonne. The two largest diamonds weighed 0.96 and 0.28 carat.
The 77.8 kg sample of boulders was collected approximately 150 metres southwest of the Lynx North occurrence which is situated along the interpreted strike approximately 1.2 kilometres north of the Lynx occurrence.
The two samples were processed for diamonds by caustic dissolution at Ashton's North Vancouver laboratory. The table below presents the results of these analyses in square mesh sieve format.
|
Sample Weight (kg)
|
Numbers of Diamonds According to Sieve Size Fraction (mm)
|
Total Number of Diamonds
|
|
+0.100
-0.150
|
+0.150
-0.212
|
+0.212
-0.300
|
+0.300
-0.425
|
+0.425
-0.600
|
+0.600 - 0.850
|
+0.850 - 1.18
|
+1.18 - 1.70
|
+1.70
- 2.36
|
|
238.7
|
166
|
166
|
125
|
89
|
29
|
12
|
4
|
3
|
0
|
594
|
|
77.2
|
100
|
82
|
60
|
27
|
13
|
7
|
0
|
0
|
0
|
289
|
These results suggest that the bedrock sources of the kimberlitic boulder samples have the potential to host a significant population of commercial-size diamonds. The joint venture will continue to evaluate the Lynx Anomaly in an effort to find the origin of these boulders and discover additional diamondiferous kimberlitic bodies.
SOQUEM is a wholly-owned subsidiary of SGF Minéral inc., a subsidiary of Société générale de financement du Québec ("SGF"). The mission of the SGF, as an industrial and financial holding company, is to carry out economic development projects, especially in the industrial sector, in cooperation with partners and in accordance with accepted requirements for profitability that comply with the economic development policy of the Government of Quebec.
Ashton is the operator of the joint venture's exploration programs. Brooke Clements, Professional Geologist and Ashton's Vice President, Exploration, is responsible for their design and conduct, and for the verification and quality assurance of analytical results.
For further information, please contact:
Robert T. Boyd -or- Salimah Lalli -or- visit our website:
President and CEO Investor Relations www.ashton.ca
(604) 983-7750 (604) 983-7750 email: contact@ashton.ca