Ashburton More Than Doubles Land Position in Sheslay Valley-Acquires Claims Contiguous to Grizzly And Applies for Drill Permi...
April 25 2014 - 8:00AM
Marketwired
Ashburton More Than Doubles Land Position in Sheslay
Valley-Acquires Claims Contiguous to Grizzly And Applies for Drill
Permits at Hackett
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 25, 2014) -
ASHBURTON VENTURES INC. (TSX-VENTURE:ABR)(FRANKFURT:ARB)
("Ashburton" or the "Company") announces today that it has more
than doubled its land position in the prolific Sheslay district of
northwest British Columbia, increasing from 1,296 hectares to over
3,000 hectares with the acquisition of strategic claims extending
six kilometers north-south along the western border of Garibaldi
Resources' Grizzly Property. The two claim blocks, which will form
the "Grizzly West Extension Project", are within two kilometers of
the Grizzly West porphyry target (see Garibaldi news release
March 13, 2014). Historical data for this highly prospective
area have been reviewed extensively by Ashburton geologists, and a
work program will commence shortly on the Grizzly West Extension
Project.
Ashburton is also pleased to announce that it will be starting a
work program at its Sheslay Hackett Property next month. The
Company has requested permitting for 2,000 meters of diamond
drilling from several set-ups, as well as 18 kilometers of
line-cutting to conduct IP, with the establishment of an
exploration camp onsite.
The western border of the Hackett property is within 1,000
meters of Doubleview Capital Corp.'s discovery holes HAT-08 and
HAT-11 reported earlier this year that indicate the strong
potential for a copper-gold alkalic porphyry-type deposit
(see Doubleview news release January 20, 2014).
Doubleview recently announced resumption of drilling at the Hat
Property (see Doubleview news release March 27, 2014).
Approximately 300 meters west of the Hackett, on the Doubleview
side of the adjoining southwestern border, assays from the
historical Hoey showing report up to 6,600 ppb Au, and historical
aeromagnetics on the Hackett property define a magnetic high on the
southern claims (W. Thompson, 1988, B.C. Minfile Report #18158). No
drilling has ever been carried out on this property.
Mr. Kyler Hardy, President of Ashburton, states, "Ashburton was
an early entrant into the Sheslay area and we're extremely pleased
to have two critical land positions contiguous to the Hat and the
Grizzly, in this rapidly emerging copper-gold district. Both of our
projects are strategically positioned to incorporate the successful
exploration results from adjoining properties, which can greatly
minimize our timeline to discovery. Because of this advantage, we
look forward to a dynamic exploration season during which we can
seize this unique opportunity to build shareholder value."
To acquire the claims comprising the Grizzly West Extension
Project, Ashburton will pay Victory Ventures Inc. $5,000 cash,
issue 200,000 common shares of Ashburton and a 2% NSR of which 1%
may be purchased for $1 million. Ashburton will also be obligated
to keep the claims in good standing for a period of 18 months from
closing. All terms are subject to regulatory approval.
The technical contents of this release were approved by Dr. Tom
E. McCandless, P. Geo., a director of Ashburton and a qualified
person as defined by National Instrument 43-101. Ashburton's
properties referred to above have not been the subject of a
National Instrument 43-101 report, and Dr. McCandless has not
verified the technical data disclosed in this release.
Ashburton Ventures is a junior exploration company actively
seeking mineral opportunities for the benefit of all of its
stakeholders.
ON BEHALF OF THE BOARD
Michael England, CEO
Forward-Looking Statements:
Some of the statements in this news release contain
forward-looking information that involves inherent risk and
uncertainty affecting the business of Ashburton Ventures Inc.
Actual results may differ materially from those currently
anticipated in such statements. Neither the TSX Venture Exchange
nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.
Ashburton Ventures Inc.Michael EnglandCEO1-604-683-3995Toll
Free: 1-888-945-4770www.ashburtonventures.com
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