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Ashburton Ventures Inc. | TSX.V ABR

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January 26th, 2016, VANCOUVER, B.C. – ASHBURTON VENTURES INC. (ABR-TSX:V) (ARB-FRANKFURT)  (“Ashburton” or the "Company”) is pleased to announce assay results from the first hole, BH15-01, from its recent drilling program at its Buckingham Graphite Project in southern Quebec.

Hole BH15-01, which targeted a broad, 1,500-metre long, northeast-trending geophysical anomaly encountered a total of 76.1 metres of disseminated graphite mineralization, hosted primarily within marble units, and reached a total depth of 209 metres. Hole information and assay results are summarized in Tables 1 & 2 and the Drilling Summary section below.

Table 1. Drill Hole Location Data

Hole ID

Easting

Northing

Azimuth

Dip

Total Depth (m)

BH15-01

460539

5054590

310

-50.0

209.0

Coordinate system: NAD83 UTM Zone 18N

 

Table 2. Summary of Significant Assay Data

Hole ID

From (m)

To (m)

Interval Length (m)

Graphitic Carbon (Cg) %

BH15-01

3.7

15.0

11.3

1.81

 

 

 

 

 

BH15-01

70.0

106.0

36.0

2.51

including

73.0

85.7

12.7

4.16

 

 

 

 

 

BH15-01

175.0

203.8

28.8

8.36

including

185.0

193.0

8.0

17.7

President and CEO Michael England states, “We are pleased to see that the mineralized intervals our team identified in early December from visual inspection of core match up extremely well with our current assay results. We hope that subsequent results from the remaining four holes of the program (including BH15-03 which was reported to contain 148 metres of mineralization (1)) correlate equally as well. Based on this hole and purity tests yielding values as high as 96.1% Ct in large flake fractions (2), we are witnessing an exciting story beginning to unfold.”

Drilling Summary: BH15-01

Lithologies encountered in BH15-01 consist dominantly of intercalated quartzofeldspathic paragneiss and generally graphite-bearing coarse-textured marble units. Minor pegmatite intrusions were encountered, notably in the lowermost 5 metres of the hole.

Graphite mineralization within BH15-01 is hosted dominantly within coarse, pebbly-textured marble units and occurs as disseminated, millimetre-scale flakes. The hole also encountered a small amount of vein-hosted graphite within a narrow pegmatite interval at the bottom of the hole, indicating the presence of vein graphite in the area. Note that in December 2015, a 30-metre wide outcrop with lump-vein graphite hosted in fractures assaying up to 68.0% Cg was discovered approximately 300 metres north of the drilling area (see ABR release, December 22, 2015).

Based on structural measurements taken from the drill core and from trenches directly above the drill hole, it is inferred that the foliation (and therefore, the mineralized layers) displays a general northeast strike and a roughly sub-vertical dip. This correlates very closely with the anomalous trend identified by the TDEM (time-domain electromagnetic) survey conducted on the property, which trends roughly northeast (~035°).

The structural picture of the mineralized zone will be expanded upon further as the Company analyzes the logging data in conjunction with assay results from the remaining four holes. The Company will release updates on this development in upcoming releases.

Cross sections and maps will be available on the Ashburton website. See link below for details:

http://www.ashburtonventures.com/?page=project&id=1003

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 contents of this release were approved by Mr. Case Lewis, P.Geo., director of Ashburton and a qualified person as defined by National Instrument 43-101.

(1) See Ashburton Ventures release dated December 14, 2015.

(2) See Cavan Ventures Inc. release dated May 28, 2015.

About the Buckingham Graphite Project

The Buckingham Graphite Project consists of 28 claims located in Ranges VIII and IX, Buckingham Township, Quebec and covers an area of 1,683 hectares. The property is located 1.7 kilometers north of the historic, producing Walker Graphite Mine. Helicopter-borne magnetic and time-domain electromagnetic surveys located a historic conductor, and further resolved a parallel 300 meter-long conductor (see Cavan release, September 24, 2013). Historic airborne electromagnetic surveys have also identified additional conductors over a large portion of the Buckingham Graphite Project.

Purity tests on the property have yielded values as high as 96.1% Ct (total carbon) from large flake fractions from simple flotation without the need for further upgrading (see Cavan Ventures Inc. release May 28, 2015).

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 info@ashburtonventures.com.

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

Forward-Looking Statements:

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.

  • Ashburton Ventures Incorporated
    1240-789 West Pender St.
    Vancouver, BC, V6C 1H2
  • +1-604-683-3995
  • +1-888-945-4770
  • +1-604-683-3988
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