ASHBURTON ACQUIRES LITHIUM PROJECT IN NEVADA
August 19th, 2009, VANCOUVER, B.C. â€“ ASHBURTON VENTURES INC.
(ABR-TSX:V) (â€œAshburtonâ€ or the “Companyâ€) announces it has signed an
agreement to acquire a 100% interest in 37 mineral claims with known
occurrences of lithium bearing springs and clays in Churchill and
Pershing Counties, Nevada. The claim block, known as the â€œHYâ€ claims,
covers approximately 740 acres and were the subject of a reconnaissance
survey in the late 1970’s and a preliminary work project in the 1980â€™s.
The original reconnaissance and follow up program was directed by
geologist Jay W. Santos. This work included 242 shallow auger holes to
test the lithium dispersion below the feed source. Commercial analytical
laboratories showed total lithium contents ranging from 86 to 1480 ppm
from rock and soil samples in the auger holes. The majority of the
reconnaissance analysis was done in house and is not part of this release.
The higher grades appear related to the clay content of the holes. A
resistivity survey of a small portion of the property was contracted out,
results of which showed two well defined zones of lower resistivity at
depth, possibly indicating a brine.
Terms of the agreement call for cash payments totaling $100,000 and
500,000 common shares of Ashburton plus a 1% NSR.
A finders fee will be paid on this arms-length transaction.
Chemetall-Foote Corp.’s Silver Peak Operation, located in Clayton Valley
200 miles south of the property, is the only lithium brine producer in
North America and has been in production since 1966.
Lithium has a number of different uses in different sectors of society. The
most common use is in lithium batteries. These are lightweight and are
not as toxic as lead and cadmium batteries. These batteries have
applications as small as watch batteries and as large as military and
Japan, Korea and China already nationally sponsor lithium ion battery
The technical contents of this release were approved by Ashburton
director and qualified person as defined by National Instrument 43-101,
Dr. Tom McCandless, P.Geo. The property has not been the subject of a
National Instrument 43-101 report and Dr. McCandless has not verified
the technical data disclosed in this release.
This transaction is subject to approval by the TSX Venture Exchange.
ON BEHALF OF THE BOARD
Michael England, President
For further information contact:
Telephone: (604) 683-3995
Neither 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.