2010, VANCOUVER, B.C.
â€“ ASHBURTON VENTURES INC. (ABR-TSX:V)
(â€œAshburtonâ€ or the “Companyâ€)
is pleased to provide
an update on its summer exploration program at the Deep Creek Project, located
112 kilometers north of Elko, Nevada. The company recently completed an
agreement with Newmont Mining Corporation (NEM-TSX),
whereby Newmont provided their historical data pertaining to the Deep Creek
Property in exchange for a 0.5% NSR (see news
release September 7, 2010).
The new drilling
by Ashburton has confirmed that gold mineralization within the range front
structure is at approximately the same meterage intervals, with similar grades,
as the historical data. Ashburton drill hole DC-10-C-2 has been only
partially assayed but has a gold intercept of 1.03 g/t from 70-73 meters, and
drill hole DC-10-C-4 intercepted 1.46 g/t gold from 104-105 meters. The nearest
historic drill hole (M88-3C) reported an average of 3.70 g/t gold from 105-123
meters (0.11 oz/ton over 70 feet).
Additional gold intercepts in Ashburton hole
DC-10-C-4 include 3.92 g/t
from 67-69 meters
, and 2.01 g/t
from 75-76 meters.
Four holes have been drilled, with core
undergoing assay at ALS Chemex Laboratories. Less than half the core has been
assayed to date. A fifth drill hole on the range front structure is presently
being completed at the property, after which the company will halt drilling
while it receives and interprets the remaining drill core assays, and
assimilates the historical data provided by Newmont. Review of all data will be
carried out with the objective of defining mineralization on the property
according to modern-day regulations.
All holes were drilled at roughly 45
degrees inclination to match historic drilling, such that drill intercepts
would be roughly perpendicular to the range front structure that is the primary
host for gold mineralization. Drilling at this inclination parallels the
apparent bedding in altered sedimentary and igneous rocks adjacent to the range
front structure, meaning that all rock types are not completely sampled. As the
sedimentary and igneous rocks represent a larger, low grade gold mineralization
target (see news release March 16, 2010), drilling to focus on this
target will be included in future programs.
Prospecting along the range front
structure is also continuing upslope from the drilling activity, where recent
vein outcrop sampling generated a result of 40.1 g/t gold (1.17 oz/ton) in a
2.1 kg sample. Several veins with visible gold outcrop in this upper area, and
detailed mapping and assaying is underway to determine their thickness and
The Deep Creek Property consists
of claims covering over 648 hectares (1,600 acres), and is 56 kilometers
northeast of the Newmont-owned Midas mine in the prolific Carlin gold trend.
Formerly called Millionaria, Deep Creek was explored initially in the mid-1980â€™s,
and 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.
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.
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
For further information contact:
Telephone: (604) 683-3995
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