February 3rd, 2014, VANCOUVER, B.C. – ASHBURTON VENTURES INC. (TSX-V: ABR) (ARB-FRANKFURT) (“Ashburton” or the "Company”) announces today that it has staked additional mineral tenures (444 hectares) in the Sheslay Valley to be included in the Company’s Hackett Project which is contiguous to the Doubleview Capital Corp. (TSX-V: DBV) Hat Cu-Au property.
The original Hackett claim group adjoins the eastern and southern borders of the Hat property. During recent flyovers at Hackett, a large gossanous zone along the western portion of the property was observed from the air. The western edge of Hackett is within 1,000 meters of Doubleview’s discovery drill holes that indicate the strong potential for a copper-gold alkalic porphyry-type deposit (see Doubleview Capital Corp. news release, January 20, 2014). This gossan will be the subject of an early work program including sampling and mapping, as soon as weather permits, in order to prioritize potential drill targets.
Volcanic-sedimentary assemblages and intrusive rocks at the Hackett and Hat properties are similar and are believed to be part of the Stuhini Group, presently the focus of heightened exploration activity in northern British Columbia. Historical aeromagnetics for the Hackett identified a magnetic high on the southern portion of the claims (B.C. Minfile Report #18158, 1988).
“Ashburton is extremely fortunate to have claims adjoining, and on trend, with these significant discovery holes drilled by Doubleview. Expanding our land position at this time is an important strategic move for what is setting up to be an exciting work season throughout the Sheslay district,” states Mike England, CEO of Ashburton Ventures.
Additionally, further to Ashburton's news release of January 22, 2014, it has also extended the closing of its non-brokered flow-through private placement of 2.5 million flow-through units at a price of five cents per unit for total gross proceeds of $125,000 to February 15, 2014. Each flow-through unit will comprise one common share and one share purchase warrant of the company. Each warrant will entitle the holder to purchase one share for a period of 24 months from the closing date at an exercise price of 10 cents per warrant share.
The technical contents of this release were approved by Marvin A. Mitchell, P. Eng., Technical Advisor to Ashburton and a qualified person as defined by National Instrument 43-101. The properties have not been the subject of a National Instrument 43-101 report, and Mr. Mitchell has not verified the technical data disclosed in this release.
Ashburton Ventures is a junior exploration company actively seeking mineral opportunities for the benefit of all its stakeholders.
ON BEHALF OF THE BOARD
Signed “Michael England”
Michael England, President
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995; Toll Free: 1-888-945-4770; www.ashburtonventures.com
Some of the 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.