February 27th, 2012, VANCOUVER, B.C. – ASHBURTON VENTURES INC. (TSX-V:ABR) (FRANKFURT:ARB) (“Ashburton” or the "Company”) is pleased to announce that it has completed its gravity survey of the Golden Edge property, located 50 kilometers east of Winnemucca, Nevada. A north-south structure was previously identified through review of historical gravity and magnetic data to extend onto the Golden Edge property from the Lone Tree Mine, located eight kilometers to the south and operated by Newmont Mining Corporation (see news release, January 31st, 2012). The Company engaged Magee Geophysical Services LLC (Reno, Nevada) to collect high resolution gravity data to better define the structure and depths to potential mineralization over roughly 400 gravity stations with a resolution on the order of 0.01 mGal. The data collection phase has been completed and results will be interpreted by an independent geophysical consultant in the coming weeks.
In January 2012, a review of historical gravity data revealed a gradient extending northward from the Lonetree Mine into the property, with several possible right lateral shifts or bends indicating structural complexity. The historic CSAMT and magnetic data mapped out layered units under cover on the property that include a basalt layer of variable thickness between layers of alluvium and tuff (see news release, January 31st, 2012). An additional CSAMT survey may be required to best resolve the drill hole locations, with the line length and orientation of that survey dependent on the interpretation of the gravity results.
Golden Edge was optioned from Premier Gold Mines Limited (TSX:PG) in 2011, with Ashburton establishing a 50%-50% joint venture agreement with Premier by completing a $750,000 year-one work commitment that includes at least $500,000 directed toward drilling. An additional $2,250,000 in exploration expenditures is required over year two and three to complete the 50% interest in the property.
Ashburton is also pleased to announce that it has engaged geologist Brion Theriault to oversee the Golden Edge project. Mr. Theriault has over 20 years of gold exploration, development and production, including two years on the Saddle Gold Project for Premier Gold Mines, and who brought the Golden Edge project to the attention of that company. Mr. Theriault is a Certified Professional Geologist and qualified person as defined by NI 43-101, and will oversee all of the technical aspects of the project.
The technical contents of this release were approved by Dr. Tom McCandless, P.Geo., Vice President, Exploration for Ashburton and a qualified person as defined by National Instrument 43-101.
Ashburton Ventures Incorporated is a Canadian-based junior exploration with active gold and base metal programs in the Yukon, Canada and Nevada, USA. For further information we invite you to visit us at www.ashburtonventures.com.
Premier Gold Mines Limited is one of North America's leading exploration companies with a high-quality portfolio of projects focused in Canada and the United States. The portfolio includes significant assets in world class gold mining districts such as Red Lake, Musselwhite and Geraldton in Ontario and the Carlin Trend in Nevada.
ON BEHALF OF THE BOARD
Michael England, President
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 this release.