ASHBURTON VENTURES INC.: PROGRESS REPORT ON THE CURRENT DRILLING PROGRAM AT BUCKINGHAM GRAPHITE PROPERTY, QUEBEC
September 1, 2016, VANCOUVER, B.C. – ASHBURTON VENTURES INC. (TSX-V: ABR) (ARB-FRANKFURT) (“Ashburton” or the "Company”) is pleased to announce it has completed 6 diamond drill holes (1200 m) on its Buckingham Graphite Property located in southwestern Quebec. The first five holes tested the northeastern extension of the 1.1 km long, geophysical conductor of which the southwest portion was investigated during the drilling program implemented in December 2015. An additional hole targeted a parallel, 300 m-long conductor, located 300 m to the west of the main conductor. Graphite bearing formations were intersected in each hole.
Graphite was generally found in in impure marble-rich layers intercalated among garnet- and biotite- quartzofeldspathic gneisses. Encouraged by the success of the ongoing second phase drill program, two additional holes are in the process of being drilled, bringing the total number of holes to eight with a cumulative of 1,600 m of core. The drilling program will be completed by September 16th, 2016. Up until now, 711 samples were sent to SGS Lab of Lakefield, Ontario, and results are pending.
President and chief executive officer Michael England stated: "Buckingham continues to consistently deliver hole after hole, we look forward to announcing results as the drilling program continues.”
About the Buckingham Graphite Project
The Buckingham graphite property consists of 18 claims located in ranges VIII and IX, Buckingham Township, Quebec and covers an area of 1,082 hectares. Channel sampling in the SW end of the 1.1 km conductor has yielded assay results of 21.6 per cent Cg (graphitic carbon) over 14.5 m (see Cavan news releases dated July 17, 2014). The drilling program returned assays of 4.07 wt. Cg % over 112 m (see PR dated February 11, 2016), 11.09 wt. % Cg over 16 m and3.29 wt. % Cg over 88 m. (see PR dated June 23rd 2016).
The Company further announces it has received assay results from the recent exploration program at its Whabouchi property. The results from the limited exploration program contained one anomalous lithium value and management will now assess future plans for the project.
The technical content of this news release was approved by Dr. Michel Boily, geo., director of Ashburton and a qualified person as defined by National Instrument 43-101. The Buckingham property will be submitted to a NI43-101 Technical Report to be completed within the coming months.
Ashburton Ventures Inc. is a Canadian-based junior exploration with mineral projects in Quebec, Canada and Nevada, USA. If you would like to be added the news release distribution please get in touch with us at [email protected].
ON BEHALF OF THE BOARD
Signed “Michael England”
Michael England, President
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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