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ASHBURTON ANNOUNCES ENCOURAGING RESULTS OF PRELIMINARY WORK AT THE “HY” LITHIUM PROPERTY IN NEVADA
October 29, 2009, VANCOUVER, B.C. – ASHBURTON VENTURES INC. (ABR-TSX:V) (“Ashburton” or the "Company”) is pleased to announce results from its initial ground program on the “HY” claims (see PR dated August 19, 2009) located in the Dixie Valley of west-central Nevada. The “HY” claims cover approximately 740 acres (300 hectares) and were the subject of reconnaissance surveys in the late 1970's and a preliminary work project in the 1980’s. These earlier reconnaissance programs were directed by geologist Jay W. Santos, and included 242 shallow auger holes to test lithium dispersion below the feed source. Results obtained from commercial laboratories showed total lithium contents ranging from 86 to 1480 ppm from rock and soil samples in the auger holes.
Sampling by Ashburton on the claim block confirmed the lithium anomalies initially detected in the reconnaissance surveys. Four soil auger samples were from areas where anomalous Li was reported from the 1970s sampling program. The four samples were collected using a 1.2-meter soil auger and ranged in depth from 0.50 to 1.15 meters. Lithium contents of these samples range from 320 to 590 ppm Li. Three water samples were also collected from nearby springs on the property contained 1580 to 1720 ug/L Li. Geochemical analyses were performed by ALS-Chemex Laboratories of Reno, Nevada, and North Vancouver, BC.
Management are very encouraged by the results and are designing a more systematic sampling program for implementation in the coming year.
David Hedderly-Smith, Ph.D, P.Geo is an advisor to Ashburton, a Qualified Person as defined by N.I. 43-101, and has approved the information in this press release.
Ashburton is pleased to welcome Greg Amor, CA, as the company's new chief financial officer effective November 1, 2009. Mr. Amor brings to the company his substantial experience with junior exploration companies, gained while acting in senior executive positions with a number of TSX Venture Exchange-listed companies. The Company wishes to thank Ms. Zara Kanji-Aquino for performing as CFO up to this time.
The Company also announces it has granted a total of 825,000 stock options to directors, officers, employees and consultants of the company, exercisable at a price of 10 cents per share for a period of five years from the date of grant. The options have been granted in accordance with the company's stock option plan.
Ashburton Ventures is a junior exploration company actively seeking mineral and energy opportunities for the benefit of all its stakeholders.