January 31st, 2012, VANCOUVER, B.C.
â€“ ASHBURTON VENTURES INC.
(ABR-TSX:V) (ARB-FRANKFURT) (â€œAshburtonâ€
or the “Companyâ€)
pleased to announce that it has completed a review of geophysical data for the
Golden Edge property, located 50 kilometers east of Winnemucca, Nevada. Historic
CSAMT and gravity data were reviewed, including aeromagnetic data that had not
been previously available. The review was implemented in order to improve drill
target selection along the Valmy fault zone,
structure that is believed to extend northward from the Lone Tree Mine, located
eight kilometers south of the property and operated by Newmont Mining
Corporation, through the western portion of the Golden Edge property.
The review, conducted by an
independent consultant on behalf of the Company, concluded that additional
gravity may confirm the structural connection along the Valmy fault zone, and
CSAMT following on the gravity results will provide better subsurface
resolution for exact drill hole placement.
data covering the Golden Edge property
gradient extending northward from the Lonetree Mine into the property, with
several possible right lateral shifts or bends indicating structural complexity.
collected in 2001 and 2002, and magnetic data collected in the mid-1990â€™s map
out layered units under cover on the property that include a basalt layer of
variable thickness between layers of alluvium and tuff. It is anticipated that
14 line-km of CSAMT data will be required to resolve the best drill hole
locations, with the final line length and orientation of the CSAMT survey
dependent on the gravity results.
Edge was optioned from Premier Gold Mines Limited (PG-TSX) 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
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.
Ventures Incorporated is a Canadian-based junior exploration with active
mineral programs in the Yukon, Canada and Nevada,
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
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