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Ashburton Ventures Uncovers Bonanza-Grade Gold (as high as 1,180 g/t) in Nevada






Ashburton Ventures Uncovers Bonanza-Grade Gold
(as high as 1,180 g/t) in Nevada

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Nevada is one of the best places to mine gold.

The Elko Daily Free Press in Elko, Nevada recently reported, "Nevada is still in its biggest mining boom, one that produced more than 200 million ounces of gold in Nevada from 1981 to last year," reports.

Despite all the successful gold discoveries, there is still a lot more gold to be found.

Bob Brock, a senior landman for Barrick Gold, recently said, "The 84.5 percent of Nevada that is public land managed by the federal government offers exploration opportunities."

One company that may have just hit one of those opportunities is Ashburton Ventures (TSX-V:ABR).

A few hours ago Ashburton announced some very big news.

The company reported:

The latest bulk grab samples on the Upper Vein have produced results of up to 1,180 g/t gold�

Thats equivalent to 44 ounces per tonne.

In addition to the massive grades, Ashburton stated the results expand the known strike length of the Upper Vein by 60%.

This is a potentially game-changing announcement for Ashburton which, before today, was just a tiny $2.5 million company with a few early exploration projects. As youll quickly see, that could have changed virtually overnight.

Ashburtons Bonanza-Grade Gold

Ashburtons Deep Creek gold exploration property, which encompasses the entire Upper Vein structure, is located in the heart of Nevadas gold producing region. Its in northern Nevada and is 56 km away from the Newmonts Midas Mine (3 million ounce gold and 25 million ounce silver).

The property was initially explored by Franco Nevada in the 1980s. Franco Nevada was able to estimate reserves at 477,000 ounces of gold from the Range Front Structure, also known as "Millionaria" in its day. (70,000 proven, 470,000 probable - not 43-101 compliant)

But with the 70s gold bubble deflating, it just wasnt enough to justify further exploration.

Today is a much different story. Gold prices are four times higher and the large, unexplored regions of Deep Creek are worth exploring.

Thats exactly what Ashburton is doing. And its doing it fast.

Ashburton announced it had started preliminary exploration and drilling activities at Deep Creek on June 17, 2010.

It didnt take long for the company to know it was in the right spot. Ashburton announced "visible gold" was coming out of the drill core samples on July 23rd.

The news was good, but not great. There was something missing. Newmont had been holding onto a lot of old exploration data and results for Deep Creek. On September 7th Ashburton announced it reached a deal with Newmont to acquire all the data.

Now, with all the data in hand, analyzed, and modeled, Ashburtons exploration program is producing some stellar results.

Its initial sampling survey of the property has produced some stellar results. On October 5th Ashburton reported it had sampled gold grades of 94.3 g/t, 56.3 g/t, and 40.1 g/t.

The company was onto something. But the big news came out earlier today when Ashburton announced it had sampled gold grades as high as 1,180 g/t in the Upper Vein structure at its Deep Creek property.

The absolutely massive grades were found in a new area too. As a result, the expected length of the Upper Vein was extended from 400 meters to 640 meters - a 60% increase.

The picture below shows how the Upper Vein is situated on the Deep Creek property:

Bigger than Nevada

Certainly, grades as high as 1,180 g/t gold are going to warrant further exploration - which Ashburton is currently planning - but the company has a lot more going for it too.

Ashburton has a suite of properties with the same kind of potential as Deep Creek in the some of the hottest gold exploration areas in the world.

White Gold (Yukon Territory gold):

Ashburtons White Gold project is located in the center of the red-hot Yukon Territory (view map here). Its 100% owned property is in the White Gold district and is 10 km away from the Golden Saddle Zone - the original discovery by Underworld/Kinross which started the current Yukon exploration explosion.

Teels Marsh (Nevada lithium):

The Teels Marsh project is located in Mineral County, Nevada. It consists 2,460 acres of highly prospective lithium-bearing geological formations. The property hosts multiple past-producing lithium mines which were mined for their salt content in the 1800s.

Hy Claims (Nevada lithium):

The Hy Claims consist of 740 acres of lithium exploration property in Nevada. They were previously explored in the 1980s. Ashburtons renewed exploration program has returned lithium grades averaging between 1580 to 1,720 ug/L.

Share Structure:
Shares Outstanding: 43,583,595
Warrants Outstanding: 31,287,167
Options: 4,350,000
Fully-Diluted Shares Outstanding: 79,220,762

Management

Mike England - Director, CEO -has been involved in the public markets starting in 1983 working on the floor of the Vancouver Stock Exchange as a floor trader after successfully completing the Canadian Securities, Options and Futures Courses. Since 1995 Mr. England has been involved directly with public companies serving various roles including investor relations, CFO, Directorships and Presidencies and has raised in excess of $20 million to date for exploration and acquisitions.

Tom McCandless, Ph.D., P.Geo - Director - has over 30 years of mineral exploration experience, specializing in diamond exploration. He has a Master of Science and Ph.D. degree in geology, and a wide range of experience that includes employment as Chief Mineralogist for Superior Minerals, Ashton Mining of Canada, and Stornoway Diamonds Corporation. Since 2008 he is Chief Geoscientist for MCC Geoscience Inc. He is a registered Professional Geologist with APEGBC and a Qualified Person as defined by National Instrument 43-101. Dr. McCandless has published extensively on the geochemistry of PGE, base metal, gold and diamond deposits, and is an Adjunct Professor at the University of Alberta and the University of Arizona.

Marvin Mitchell, P.Eng - Director - is an independent technical consultant who received his degree from the Montana College of Mineral Science and Technology in 1968 (formerly Montana School of Mines). He has over 38 years experience in the mineral exploration industry including 8 years as Exploration Manager for the Minerals Division of Ranger Oil Ltd. and is a registered professional engineer in the Province of British Columbia.

Lorne McCarthy - Director - worked in property acquisitions, Park Georgia Realty Ltd. from September 1987 to September 2008; Secretary of Geo Minerals Ltd. from November 2006 to March 2007.

Phil Taneda - Director - currently serves as director of Abington Ventures Inc. from March 2003 to Present; Director of Andover Ventures from March 2003 to August 2006; Vice President of Koeda Forest Products from January 2006 to November 2006; Sales Manager of Grizzly Wood Products from March 2003 to December 2005.

David Cross - CFO - is a certified general accountant and has a strong accounting background. Currently he is a partner in the firm of Cross Davis & Co. His past experience consists of senior management positions, including five years at Davidson & Company LLP as manager, and, before that, he spent six years with Canadian Communication Products as its assistant controller.

The Bottom Line

In the end, Ashburton Ventures is really moving quickly towards developing its Deep Creek property in Nevada.

This year alone the company has sampled, drilled, and acquired all the historical exploration data previously controlled by Newmont.

Since Ashburton got the data, its sampling efforts have produced fantastic results. Gold grades of 1,180 g/t are absolutely spectacular. Not only were those results stellar, they proved there was a lot more exploration potential to be done on the Deep Creek project. Those samples extended the expected strike length of the Upper Vein from 400 meters to 640 meters.

Finally, Ashburton is truly a very, very early-stage company. It has a market value of approximately $2.5 million and its exploration results are starting to attract a lot of attention.

Follow Ashburton Ventures (TSX-V:ABR) at

Click here for contact information

Sources:
Ashburton Ventures web site
Elko Daily news article
Midas Mine reference

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