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May 6, 2010, VANCOUVER, B.C. – ASHBURTON VENTURES INC. (ABR-TSX:V) (“Ashburton” or the "Company”) has approved a 2010 work program for its Deep Creek property located 56 kilometers northeast of the Newmont-owned Midas mine in the Carlin gold trend in Nevada. Further review of the historical data, in combination with field mapping has allowed Ashburton geologists to determine the drill collar locations where better historical gold grades were intersected. As part of the 2010 work program, the company will undertake a drilling campaign to confirm the earlier drilling results. Based on the historical data, further staking along the range front structure is also underway, as is additional outcrop geochemistry. Outcrop geochemistry performed earlier this year identified gold contents up to 1.44 ppm Au in sedimentary rocks up to 350 meters from the range front structure (see News Release March 16, 2010). Ten additional rock outcrop samples collected east of the range front structure confirm these earlier findings, with eight ranging from 0.006 to 0.723 ppm (average 0.226 ppm). The two best outcrop samples have gold contents of 6.42 ppm (0.19 opt) and 40.1 ppm (1.17 opt).
Deep Creek, which consists of contiguous claims covering roughly 648 hectares (1,600 acres) located approximately 112 kilometers north of Elko, Nevada, was discovered by Franco-Nevada in the mid 1980's, and was the subject of sporadic exploration from that period. Mineralization is believed to be associated with highly silicified breccias and sinters along a prominent range front structure (see News Release December 23, 2009). Ashburton recently obtained historical data from the earlier exploration period that includes a resource estimate of 1.1 million tons containing 70,000 ounces of gold along a strike length of 457 meters (1500 feet) and a depth of 122 meters (400 feet), with a reserve of approximately 477,000 ounces of gold in 7.5 million tons extending southward along the range front structure (see News Release March 11, 2010). The Company emphasizes that the resource and reserve estimates are historical and that a qualified person has not done sufficient work to classify either the historical estimate or the historical reserve estimate as current mineral resources and therefore they should not be relied upon.
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.
The technical contents of this release were approved by Ashburton director and qualified person as defined by National Instrument 43-101, Dr. Tom McCandless, P.Geo. 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. For more information please visit the Company’s website located at www.ashburtonventures.com.
ON BEHALF OF THE BOARD
Michael England, President
For further information contact:
Telephone: (604) 683-3995
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.
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