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Gold at Deep Creek was first discovered by Franco-Nevada in the mid 1980's, when two large geochemical anomalies were found to contain visible gold in grab samples. One of a dozen holes drilled intersected 14 grams per tonne gold (0.42 opt Au) over a ten meter interval, but true thickness was not determined at the time. On the surface, mineralization appears to be associated with highly silicified breccias and sinters along a prominent range front structure in Paleozoic carbonate rocks. Over 70 surface rock chip samples were collected mostly along the range front structure, with assays from below detection up to 68 grams per tonne gold (2.0 opt Au). The surface geology suggests that a large epithermal system may exist at depth in the Paleozoic carbonate rocks.
To date, roughly 324 hectares (800 acres) of contiguous claims have been staked, with additional staking presently underway. A geochemical sampling program with plans for drilling will be implemented by the company in early 2010. President and CEO of Ashburton Mike England states, “We are pleased to acquire the Deep Creek project and believe that its potential to host a high-grade gold deposit has been largely untested. Some of the mineralization exhibits a Carlin-type chemistry that could indicate the potential for a large scale gold deposit similar to Jerritt Canyon or Midas at the Deep Creek area.”
To earn 100% of Deep Creek Ashburton will make cash payments totaling $155,000 USD, issue 500,000 common shares and spend $135,000 USD over the 4 year term. A 2.5% NSR applies with 1.5% purchasable by the Company for $2,000,000 USD.
Tom E. McCandless, Ph.D, P.Geo, a director of Ashburton and Qualified Person as defined by N.I. 43-101, has approved the information in this press release. The Deep Creek property has 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 and energy opportunities for the benefit of all its stakeholders.
ON BEHALF OF THE BOARD
Michael England, PresidentFor further information contact: For For further information contact: