ASHBURTON
completes drilling PROGRAM AT dEEP
CREEK, nevada
January 5th, 2012 VANCOUVER, B.C.
– ASHBURTON VENTURES INC.
(ABR-TSX:V) (ARB-FRANKFURT) (“Ashburtonâ€
or the “Companyâ€)
is
pleased to report that drilling at its Deep Creek Project is complete and all
assays have been received. Thirty-two holes were drilled in the 2011 program,
for a total of 3,163.6 meters (11,855.5 feet).
Drill
intercepts of greater than one gram per tonne gold (g/t Au) were encountered in
seven drill holes, confirming the presence of a second vein east of the Upper
Vein, and the northern extension of the Upper Vein at depth. In the
Waterfall–Range Front Area, drilling targeted a broad zone of structural
disturbance for potential disseminated gold mineralization and intersected 73.7m
of 0.46 g/t Au, 68.7m of 0.21 g/t Au, and 47.6m of 0.25 g/t Au. A table listing
the drill hole orientations is provided below, and a
plan map showing locations can be
found Here.
www.ashburtonventures.com
.
A
major focus of the 2011 drilling program was the Upper Vein area, where outcrop
surface grab samples had gold values >1 g/t, and float samples east of the
Upper Vein indicated a potential second vein (see news release, January 20th, 2011). One meter of continuous
veining and two meters of stockwork veining were exposed during pad preparation
at the Upper Vein, providing a clearer picture of the vein such that holes could
be positioned to determine its strike length and extent at depth. Of eleven
holes drilled in the area, four intersected >1 g/t Au over intervals >1m
in length. Hole DC-11-C-10 intersected 1.69 g/t Au at 22.9m, including a 30cm
quartz vein with 4.47 g/t Au. Hole DC-11-C-13 intersected 6.94 g/t Au at 99.4m in
a siliceous breccia with quartz veining. The extension of the Upper Vein along
strike to the north was confirmed by DC-11-C-17, with two quartz veined intervals
>1 g/t at 107.9m and 145.7m. The remaining holes positioned along the
southern strike of the Upper Vein and in a saddle area between the Upper Vein
and Waterfall area returned assays mostly less than 0.10 g/t Au. Significant
widths of quartz veining or stockwork like that observed in the surface
exposure were not encountered in drilling. The drill data suggest that the Upper
Vein now exposed on surface initially formed in or near the axis of a fold, allowing
a greater vein width to develop due to structural weakness as gold-bearing
solutions migrated through the McCoy limestones.
Drilling
in the Waterfall–Range Front area targeted a broad zone of structural
disturbance identified as a potential disseminated gold deposit based on
structural analysis (see news release January 18th,
2011).
Holes
DC-11-C-5 and DC-11-C-6 were drilled from the same collar westward into the Waterfall–Range
Front area, and DC-11-C-28 was collared 1400m due north of these holes and drilled
eastward into the Range Front structure. Significant intervals of anomalous
gold were intersected in DC-11-C-5 with 73.7m of 0.46 g/t Au, DC-11-C-28 with 68.7m
of 0.21 g/t Au, and DC-11-C-6 with 47.6m of 0.25 g/t Au.
Disseminated mineralization in
the Waterfall–Range Front area is associated with variably silicified
limestones of the McCoy Group. Higher gold values are associated with highly
brecciated zones in the silicified limestones, such as in DC-11-C-5, with two
1.2m intervals of 9.74 and 14.10 g/t Au, respectively. Holes DC-11-C-25, -26,
and -27, positioned 700m south of DC-11-C-28 and drilled to test for
mineralization east of the Range Front Structure returned assays mostly <0.02
g/t Au. Holes DC-11-C-30 and -31, positioned 400 m north of DC-11-C-28 returned
assays of <0.20 for intervals >2.4m in length.
Drilling
of the Hobbit target, located two kilometers south of the
Waterfall–Range Front area
was also initiated to test argillically-altered outcrops east of a resistivity
anomaly that were drill-tested in 1986 by Kennecott Exploration (see news release October 20th,
2011). Thirty-seven meters (120 feet) of drilling were completed before
drilling was halted due to technical problems. No assays >1 g/t were
encountered over the 37-meter interval, although elevated gold values occurred
throughout the hole with higher values nearer to the bottom.
Drilling highlights for the 2011 program are
summarized in the table below.
Core
recovery for the 2011 drill program was visually estimated at better than 95%.
The core was split in half using saws located on site in Nevada and at a
facility located in Pleasant Grove, Utah, with one half submitted for treatment
at the ALS Chemex Laboratories in Elko, Nevada, and North Vancouver, British
Columbia. Gold assays were conducted using the Au-AA24 protocol (0.005-10 part
per million gold detection range), with overlimit values re-assayed using the
Au-GRA22 protocol (0.05-1,000 part per million gold detection range). Certified
standards were included in the sample stream along with the core and returned acceptable
values. Selected samples re-analyzed by the metallic screening process (Au-SCR24)
indicate a possible ‘nugget effect’ that will be investigated with any material
changes in the results to be reported in future updates.
Concurrent
with the 2011 drilling program, follow-up mapping and sampling was also conducted
over several historic rock and soil anomalies on the property. Results of the
2011 drilling, as well as historic data in the Company’s possession, will be
further assessed to identify additional areas for drilling in 2012.
Ashburton
currently owns a 100% interest in the Deep Creek property, with the 2011
program supported in part through a private placement from Premier Gold Mines
(PG-TSX) (see news release December 9,
2010).
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 is a junior exploration company actively seeking mineral opportunities
for the benefit of all its stakeholders.
ON BEHALF OF THE BOARD
Michael England, President
For further
information contact:
Telephone:
(604) 683-3995
Forward-Looking Statement:
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.
