Ashton Mining of Canada Inc.

Ashton Mining of Canada Inc.

October 07, 2005 17:00 ET

Ashton Mining of Canada Inc.: Drilling Completed on Buffalo Hills Property, Alberta

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 7, 2005) - Robert T. Boyd, President and CEO of Ashton Mining of Canada Inc. ("Ashton" or "the Corporation") (TSX:ACA) announces that the summer drilling program on the Buffalo Hills property in north-central Alberta has been completed. This work was conducted as part of the 2005 exploration program undertaken by Ashton and its joint venture partners, EnCana Corporation ("EnCana") and Pure Gold Minerals Inc. ("Pure Gold").

The joint venture tested three geophysical targets that exhibited coincident electromagnetic and gravity responses and were approximately 500 metres in diameter. A vertical hole drilled at each target confirmed the presence of overburden to a depth greater than 75 metres before terminating in bedrock. Kimberlitic material was not intersected as a result of this drilling. The geophysical signatures are now interpreted to be compositional variations in the deep overburden.

While disappointed by these results, the joint venture remains confident of the potential to discover additional large tonnage, near-surface diamond-bearing kimberlites on the Buffalo Hills property. Data generated on the property to date will be reviewed in anticipation of the 2006 program. The joint venture has discovered a total of 38 kimberlites on or near the Buffalo Hills property, of which 26 are diamondiferous. Samples from three of these bodies, K14, K91, and K252 have returned estimated diamond contents of 12, 13 and 55 carats per hundred tonnes ("cpht") respectively. The estimated size of the 38 kimberlites ranges from one to more than 45 hectares. Seven of the 38 bodies are covered by less than 15 metres of overburden.

Ashton is the operator of the joint venture's exploration programs and Brooke Clements, Professional Geologist and Ashton's Vice President, Exploration, is responsible for their design and conduct, and the verification and quality assurance of analytical results.

About Ashton Mining of Canada Inc.

A leader in the Canadian diamond exploration sector, Ashton has discovered 72 kimberlites since incorporation. Ashton's discovery-stage work in Alberta and Nunavut complements the Corporation's advanced exploration program on the Foxtrot property in Quebec. Ashton's competitive advantages include its extensive in-house laboratory facilities in North Vancouver, dedicated exclusively to the Corporation's exploration programs.

Contact Information

  • Ashton Mining of Canada Inc.
    Brooke Clements
    Vice President, Exploration
    (604) 983-7750
    Ashton Mining of Canada Inc.
    Mike Westerlund
    Manager, Investor Relations
    (604) 983-7750
    (604) 987-7107 (FAX)