2010, VANCOUVER, B.C.
â€“ ASHBURTON VENTURES INC. (ABR-TSX:V)
(â€œAshburtonâ€ or the “Companyâ€)
is pleased to announce
it has completed an agreement with Newmont Mining Corporation (NEM-TSX), whereby Newmont will provide
historical data pertaining to Ashburtonâ€™s Deep Creek Property in northern
Nevada. In exchange for this provision, Newmont has a Right of First Refusal
whereby, should an offer be made by a third party to joint venture or otherwise
purchase the Deep Creek project, or the Company itself, Newmont may match that
offer. Additionally, Newmont will retain a one-half percent (0.5%) NSR at Deep
Creek in the event that a mine is put into production on the property.
called Millionaria, the Deep Creek property was explored initially by Franco-Nevada
in the mid-1980â€™s, when two large geochemical anomalies were found to contain
visible gold in grab samples. Drilling that followed produced an estimated
reserve of 477,000 ounces of gold in 7.5 million tons, and resource of 70,000
ounces of gold in 1.1 million tons (see
News Release March 11, 2010). Both the reserve and resource estimates are
historical, and a qualified person has not done sufficient work to classify
either the historical reserve or the historical resource estimate as current
mineral resources, therefore these historical reserves should not be relied on
and do not have currently demonstrated economic viability.
its present program, Ashburton implemented the drilling of six to ten core
holes positioned as close as possible to historic drill results already in the
possession of the Company (see News
Release March 11, 2010). The more comprehensive historical data provided by
Newmont will be reviewed along with new drilling results acquired by Ashburton
in its present program, with the objective of developing a resource model that
meets National Instrument 43-101 requirements. The Company has completed four
core holes to date, with assay results anticipated in the coming weeks.
Creek consists of contiguous claims covering roughly 648 hectares (1,600 acres)
located approximately 112 kilometers north of Elko, Nevada and 56 kilometers
northeast of the Newmont-owned Midas mine in the prolific Carlin gold trend.
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
Ventures is a junior exploration company actively seeking mineral opportunities
for the benefit of all its stakeholders. For more information visit the
Companyâ€™s website located at www.ashburtonventures.com.
ON BEHALF OF THE BOARD
Michael England, President
Some 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