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June 23, 2016, VANCOUVER, B.C. – ASHBURTON VENTURES INC. (ABR-TSX:V) (ARB-FRANKFURT) (“Ashburton” or the "Company”) is pleased to announce new assay results from holes BH15-02, BH15-04 and BH15-05 of its ongoing drilling program on the Company’s Buckingham Graphite Project located in southern Quebec.
President and CEO Michael England states: "We are encouraged by the new assay results demonstrating the NE extension of the graphitic mineralization at depth and for at least 300 m along strike a 1,500 m TDEM geophysical anomaly at Buckingham. The property constitutes an important part of ABR's strategic acquisition of lithium and graphite assets, since graphite also enters the fabrication of lithium-ion batteries. ABR expects to further pursue its drilling campaign during the summer months".
Drilling and Assay Results: BH15-02, 03 and 05
Hole BH15-02 was targeting the extension at depth of a graphite mineralized trench yielding an average value of 18.16 wt. % Cg. The trench lies on a 1,500 m-long, NE-trending TDEM (Time Domain ElectroMagnetic) geophysical anomaly. The drill core revealed silicified and sulphide-bearing quartz-biotite paragneiss with rare marble and occasional pegmatite intrusions.
Hole BH15-04, reaching a depth of 200 m, intersected 16 m of disseminated, millimeter-scale flakes of graphite mineralization, hosted primarily within marble units. The hole was collared on the same site as hole BH15-03 (310°/-50°), plunged at -70° and is situated approximately 110 m southwest of BH15-01 along strike the TDEM geophysical anomaly. Hole BH15-05 was collared farther to the NE approximately 280 m from the position of hole BH15-04.
BH15-05 intersected disseminated graphite mineralization for nearly 129 m within alternating sequences of marble and quartz-biotite paragneiss accompanied by sporadic quartz veins and pegmatite dykes. Structural measurements from the drill core and the trenches situated directly above the drill holes location suggest the foliation and therefore the mineralized layers, strikes generally NE with a sub-vertical dip. The DDH coordinates and assay results are presented in Table 1 below. The assay results from the last three drill holes corroborate those obtained from two previous holes (DDH15-01and 03) which yielded Cg values of: 36 m @ 2.51 wt.% and 29 m @ 8.36 wt. % (DDH15-01) and 24 m @ 3.05 wt. % and 112 m @ 4.07 wt. % (BH15-03) (ABR Press Releases of January 26 and February 11, 2016).
Table 1. Best graphite assay results and coordinates for DDH BH15-02, 04 and 05
|DDH no.||Easting*||Northing||Azimuth (°)||Plunge (°)||Depth (m)||From (m)||To (m)||Interval (m)**||Cg (wt. %)|
* NAD83 UTM Zone 18N
** Apparent thickness
Samples were treated at SGS Lakefield, Ontario, using method number GE/GO/GC_CS and code A05V. Graphitic carbon was determined by multistage furnace treatment and infrared detection on LECO instrumentation. Duplicates, standards and blanks were inserted at regular intervals for QA/QC purposes.
The technical content of this news release was approved by Dr. Michel Boily, P.Geo., director of Ashburton and a qualified person as defined by National Instrument 43-101. The Buckingham property will be submitted to a NI43-101 Technical Report to be completed within the coming months.
Ashburton Ventures Inc. is a Canadian-based junior exploration with mineral projects in Canada and Nevada, USA. If you would like to be added the news release distribution please get in touch with us at [email protected].
Ashburton Ventures Inc. is a Canadian-based junior exploration company actively pursuing lithium and graphite projects in Canada and Nevada, USA.
ON BEHALF OF THE BOARD
Signed “Michael England”
Michael England, President
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995; Toll Free: 1-888-945-4770; www.ashburtonventures.com
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.
TSX.V ABR FRANKFURT ARB