Ashburton Ventures

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Chukuni Project

The Chukuni property lies within the southern corridor of the Cochenour- Gullrock deformation zone and is of particular interest within the Red Lake Mining District as this zone hosts the well known Red Lake-Campbell Mine Complex. Goldcorp's Red Lake-Campbell Mine Complex, approximately 3.5 km to the north of the Chukuni property, and currently one of Canada's largest and richest Archean gold deposits. Goldcorp's Red Lake-Campbell Mine Complex produced 629,000 ounces of gold in 2008 (see ).

On January 4th (see
News Release) Ashburton announced it is implementing a 1,000 meter drill program on the Chukuni property. The priority target is a nearly 10 meter wide shear zone which historically produced assays up to 16 g/t gold, drilling is anticipated to begin on January 4th, 2010. Ashburton Ventures has an option agreement with Solitaire Minerals to acquire a 60-per-cent interest in the Chukuni property.

The 2009 summer exploration program on the Chukuni property involved an Induced Polarization (IP) survey with follow up field work and sampling of the accessible IP anomalies. Due to the lack of outcrop, Mobile Metal Ion (MMI) soil surveys were carried out over five of the six best IP anomalies. A strong IP response that is typical for gold mineralization was obtained over the northern contact of the Howey Bay Intrusive. Of the five sampled IP anomalies, three also returned weak to moderate gold responses.

Drill testing of the coincident IP and soil anomalies will commence once weather conditions permit access. Kluane Drilling Ltd., Yukon, will conduct the drilling, and is expected to mobilize onto the property in approximately two weeks.
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