| ||Sun Jun 4, 1995|
Excerpt from KBFR May-June 1995
Publisher: Kaiser Research Online
Author: Copyright 1997 John A Kaiser
| ||Excerpt from KBFR May-June 1995|
June 4, 1995
Diamond pipes on Victoria Island?
Another play to watch this summer is the 75:25 joint venture between Ascot Resources Ltd (AOT-V: $0.42) and Major General on their 1.4 million acre permit on Victoria Island. Monopros holds a 7 million acre permit to the north. The Victoria Island play is a longshot generated through speculative armchair geology that noted a gravity low suggesting a thickening of the crust. A till sampling program in 1994 yielded indicator minerals in four areas, one of which indicated diamond potential. A followup sampling program in March 1995 confirmed a nearby source for pyrope garnets, eclogitic garnets, and chromites that plotted within the diamond inclusion field. A helicopter magnetometer survey and further sampling to tighten up targets for a summer drill program is planned. Bottom-fishers who haven't already done so should add Ascot to their portfolio. John Toffan, George Oughtred and Yorkton broker Ron Brimacombe are big shareholders in Ascot, which has about 11 million shares fully diluted. If Ascot finds a diamondiferous pipe on Victoria Island, this group will pull in substantial buying.
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