VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 25, 2014) - ASHBURTON VENTURES INC. (TSX VENTURE:ABR)(FRANKFURT:ARB) ("Ashburton" or the "Company") announces today that it has more than doubled its land position in the prolific Sheslay district of northwest British Columbia, increasing from 1,296 hectares to over 3,000 hectares with the acquisition of strategic claims extending six kilometers north-south along the western border of Garibaldi Resources' Grizzly Property. The two claim blocks, which will form the "Grizzly West Extension Project", are within two kilometers of the Grizzly West porphyry target (see Garibaldi news release March 13, 2014). Historical data for this highly prospective area have been reviewed extensively by Ashburton geologists, and a work program will commence shortly on the Grizzly West Extension Project.
Ashburton is also pleased to announce that it will be starting a work program at its Sheslay Hackett Property next month. The Company has requested permitting for 2,000 meters of Diamond drilling from several set-ups, as well as 18 kilometers of line-cutting to conduct IP, with the establishment of an exploration camp onsite.
The western border of the Hackett property is within 1,000 meters of Doubleview Capital Corp.'s discovery holes HAT-08 and HAT-11 reported earlier this year that indicate the strong potential for a copper-gold alkalic porphyry-type deposit (see Doubleview news release January 20, 2014). Doubleview recently announced resumption of drilling at the Hat Property (see Doubleview news release March 27, 2014).
Approximately 300 meters west of the Hackett, on the Doubleview side of the adjoining southwestern border, assays from the historical Hoey showing report up to 6,600 ppb Au, and historical aeromagnetics on the Hackett property define a magnetic high on the southern claims (W. Thompson, 1988, B.C. Minfile Report #18158). No drilling has ever been carried out on this property.
Mr. Kyler Hardy, President of Ashburton, states, "Ashburton was an early entrant into the Sheslay area and we're extremely pleased to have two critical land positions contiguous to the Hat and the Grizzly, in this rapidly emerging copper-gold district. Both of our projects are strategically positioned to incorporate the successful exploration results from adjoining properties, which can greatly minimize our timeline to discovery. Because of this advantage, we look forward to a dynamic exploration season during which we can seize this unique opportunity to build shareholder value."
To acquire the claims comprising the Grizzly West Extension Project, Ashburton will pay Victory Ventures Inc. $5,000 cash, issue 200,000 common shares of Ashburton and a 2% NSR of which 1% may be purchased for $1 million. Ashburton will also be obligated to keep the claims in good standing for a period of 18 months from closing. All terms are subject to regulatory approval.
The technical contents of this release were approved by Dr. Tom E. McCandless, P. Geo., a director of Ashburton and a qualified person as defined by National Instrument 43-101. Ashburton's properties referred to above have not been the subject of a National Instrument 43-101 report, and Dr. McCandless 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 of its stakeholders.
ON BEHALF OF THE BOARD
Michael England, CEO
Forward-Looking Statements:
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.