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ASHBURTON
ANNOUNCES ENCOURAGING RESULTS OF PRELIMINARY WORK AT THE “HYâ€
LITHIUM PROPERTY IN NEVADA
October
29, 2009, VANCOUVER, B.C.
– ASHBURTON
VENTURES INC.
(ABR-TSX:V)
(“Ashburton†or the “Companyâ€)
is pleased to announce results from its initial ground program on
the “HY†claims (see PR dated August 19, 2009) located in the Dixie
Valley of west-central Nevada. The “HY†claims cover
approximately 740 acres (300 hectares) and were the subject of
reconnaissance surveys in the late 1970’s and a preliminary work project
in the 1980’s. These earlier reconnaissance programs were directed by
geologist Jay W. Santos, and included 242 shallow auger holes to test lithium
dispersion below the feed source. Results obtained from commercial laboratories
showed total lithium contents ranging from 86 to 1480 ppm from rock and soil
samples in the auger holes.
Sampling by
Ashburton on the claim block confirmed the lithium anomalies initially detected
in the reconnaissance surveys. Four soil auger samples were from areas
where anomalous Li was reported from the 1970s sampling program. The four
samples were collected using a 1.2-meter soil auger and ranged in depth from
0.50 to 1.15 meters. Lithium contents of these samples range from 320 to
590 ppm Li. Three water samples were also collected from nearby springs
on the property contained 1580 to 1720 ug/L Li. Geochemical analyses were
performed by ALS-Chemex Laboratories of Reno, Nevada, and North Vancouver, BC.
Management are
very encouraged by the results and are designing a more systematic sampling
program for implementation in the coming year.
David
Hedderly-Smith, Ph.D, P.Geo is an advisor to Ashburton, a Qualified Person as
defined by N.I. 43-101, and has approved the information in this press release.
Ashburton is
pleased to welcome Greg Amor, CA, as the company’s new chief financial officer
effective November 1, 2009. Mr. Amor brings to the company his substantial
experience with junior exploration companies, gained while acting in senior
executive positions with a number of TSX Venture Exchange-listed companies. The
Company wishes to thank Ms. Zara Kanji-Aquino for performing as CFO up to this
time.
The Company also
announces it has granted a total of 825,000 stock options to directors,
officers, employees and consultants of the company, exercisable at a price of
10 cents per share for a period of five years from the date of grant. The
options have been granted in accordance with the company’s stock option plan.
Ashburton
Ventures is a junior exploration company actively seeking mineral and energy
opportunities for the benefit of all its stakeholders.
