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March 8th, 2011, VANCOUVER, B.C. – ASHBURTON VENTURES INC. (ABR-TSX:V) (ARB-FRANKFURT) (“Ashburton” or the "Company”) is pleased to announce that the 2011 work program has begun for its Deep Creek Project, located 112 kilometres north of Elko, Nevada. The $1.4M budget includes expansion of the claim position, detailed structural mapping, airborne geophysics, and drilling sixteen core holes for a total of 2,900 meters (9,600 ft.). The objectives of the program are to locate additional zones of gold mineralization southward along the Range Front Structure, and to test the depth extent of high grade gold veins in the Upper Vein and Waterfall Vein areas (see news release, January 18, 2010).
Claim staking activities were conducted in February to cover additional areas of interest that were identified through review of historical data, and have now been concluded. A total of 150 claims have been staked, bringing the total land position to roughly 1,214 contiguous hectares (~3,000 acres).
Additional structure cell mapping was also conducted in February, though outcrop exposure was limited by variable snow cover. Structure cell mapping was implemented to identify areas along the Range Front Structure where greater zones of hydrothermal alteration may be encountered, as well as areas where the structure may intersect the gold-bearing veins to the east. The Range Front Structure has received the bulk of historical drilling on the property, with an estimated reserve of 477,000 ounces of gold in 7.5 million tons and resource of 70,000 ounces of gold in 1.1 million tons (at a weighted average grade 0.06 ounces per ton with a 0.02 ounce per ton cutoff). Both the reserve and resource estimates are historical and a qualified person has not done sufficient work to classify either the historical reserve or the historical resource estimate as current mineral resources, therefore these historical reserves should not be relied on and do not have currently demonstrated economic viability (see news release, January 18, 2010).
Surface outcrop sampling continues for the Upper Vein and Waterfall Vein areas, to assess the gold carrying capacity of the veins along strike. With over 640 meters of strike length, only 200 meters of the Upper Vein has been sampled continuously on surface, with 35 meters of length consistently over 10 g/t of gold to date. Sampling is still early stage at the recently discovered Waterfall Vein, with a length of 200 meters but only three samples collected to date, with two assaying at 25.5 and 20.5 g/t Au. The ‘Thirteen-Five’ vein located 60 meters west of the Waterfall Vein is of undetermined length has only one assay of 13.5 g/t Au collected to date (see news release, January 18, 2011).
Permitting for road and pad construction for the drilling program has been filed with the BLM, with 16 core drill holes planned for a total of 2,900 meters (~9,600 ft). In addition to the Range Front Structure, drilling for 2011 will emphasize the Upper Vein and Waterfall Vein Areas, proving out the known veins at depth, and testing for additional veins not seen at surface including potential northeast-trending structures. Drilling will also test for the extension of the vein systems beneath Tertiary volcanics to the southeast. Bids from several drilling companies are being received with drilling to start early in Q2, or sooner if weather permits.
Bids have also been received for an airborne magnetic/electromagnetic survey of the property. Roughly 1,600 line kilometers are planned, with the objective to identify regional structures, lithologic contacts, and areas of alteration and mineralization beneath volcanics and alluvial cover.
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. More information on the Deep Creek project can be found at www.ashburtonventures.com .
ON BEHALF OF THE BOARD
Michael England, President
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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.