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Archives2010 2009 2008 2007 2006 2005 2004 2003 2002 Ashton Archives |
$1.56 Million Exploration Program Approved on Kikerk Project - 10 Tonne Mini-Bulk Sample Planned for PotentillaMarch 26, 2002 John Robins President of Northern Empire Minerals Ltd. ("Empire") is pleased to announce that Empire has approved the $1.56 million program budget for the Kikerk Lake property in the Coronation Diamond District, Nunavut. Ashton has commenced its 2002 spring field program on the Kikerk Lake property. The program includes the collection of a mini-bulk sample from the diamondiferous Potentilla kimberlite and the identification of new targets for drilling. Empire has pre-paid Ashton $447,450.00 which represents Empire's entire share of the 2002 exploration program. Potentilla Kimberlite The current program has two objectives: to collect a mini-bulk sample of up to ten tonnes from Potentilla by core drilling, and to define the shape and size of the body by delineation drilling and geophysical surveys. Target Generation Ashton and Caledonia Mining Corporation ("Caledonia") each hold an interest of 35 percent in the property. Empire holds the remaining 30 percent interest. Ashton is entitled to earn an additional 17.5 percent interest in the property from Caledonia by incurring $750,000 in exploration expenditures not later than May 31, 2003. In addition, Ashton is entitled to increase its interest to 59.5 percent by carrying Caledonia up to the completion of a feasibility study. On behalf of the Board, NORTHERN EMPIRE MINERALS LTD. "John E. Robins" John Robins, P. Geo. |
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