VANCOUVER, BRITISH COLUMBIA–(Marketwired – Aug. 27, 2015) – ASHBURTON VENTURES INC. (TSX VENTURE:ABR)(FRANKFURT:ARB) (“Ashburton” or the “Company”) is pleased to announce that it has acquired additional ground contiguous to its recently announced GC West property, known as the “Boulder Property”, which covers the main GC lepidolite showing.
The Boulder Property covers 18 unit claims totaling 904 acres (366 hectares), which now increases Ashburton’s land position to 1,457 acres (590 hectares), located approximately 14 kilometers W-NW of Revelstoke, BC, Canada. This new addition encompasses the “GC” lepidolite Minfile showing, which is comprised of a coarse-grained lepidolite-bearing (lithium mica) pegmatite dike hosted within a mica schist. Additionally, the GC showing is also prospective for gemstones.
The Boulder Property has seen only limited exploration activity. Sampling taken in 2013 returned values of >2000 ppm lithium (indicating the samples exceeded detection range) from two samples in the GC showing area (BC Assessment Report #34293). The property was also mapped in 1968 by G.A. Wilson (BC Assessment Report #1794), however the program was directed at copper, zinc, and molybdenum mineralization and no samples were assayed for lithium.
“The encouraging lithium numbers from past sampling that covered the prospect makes for an exciting opportunity for Ashburton’s near and long term growth. The prior sampling results show significant grades of lithium bearing host rock. Combining these claims with our previously announced claims on August 19th gives Ashburton an exciting target to exploit. We anticipate work to commence in the immediate future.”
The acquisition terms to acquire a 100% interest in the Boulder property are cumulative cash payments of $15,500 plus 2.7 million shares over 24 months. A 2% NSR will be granted to the vendor with an option to purchase back one percent for one million dollars. The vendor will retain precious and semi precious stones rights discovered on the property.
About Lepidolite (Lithium)
Lepidolite mica is a uncommon mica and ore of lithium. It typically forms in granitic masses that contain high amounts of lithium. Lepidolite has been mined in Canada at the Tanco Mine, Bernic Lake, Manitoba. There is active research directed at more efficient processing of lepidolite ores by companies such as Lithium Australia NL (previously Cobre Montana NL) of Australia.
Lithium has numerous industrial applications, in products such as heat-resistant glass and ceramics, lithium grease lubricants, and flux additives for iron, steel, and aluminum production. More recent and better-known applications of lithium are for use in battery applications as it has the highest electric output per unit weight of any battery material. Lithium-ion batteries are the default choice for most personal electronics and most electric cars today such including the Tesla cars. The advent of these new applications has resulted in rapid growth projections for the sector, along with high demand for new deposits.
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.
Ashburton Ventures is a junior exploration company actively seeking mineral and energy opportunities for the benefit of all its stakeholders.
If you would like to be added the news release distribution please send an email to [email protected].
ON BEHALF OF THE BOARD
Michael England, President
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.
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