Ashburton Acquires Additional Cu-Au Claims Near Colorado Resources' North Rok Project, British Columbia
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 8, 2013) - ASHBURTON VENTURES INC. (TSX VENTURE:ABR)(FRANKFURT:ARB) ("Ashburton" or the "Company") announces today it has acquired the right to earn a 100% interest in additional mineral tenures adjacent to the Colorado Resources Ltd. North Rok property located near Iskut, B.C. Colorado Resources recently announced a drill hole intercept averaging 0.5% Cu and 0.67 g/t Au over 333 meters (see Colorado Resources news release, April 25th,2013), and the new tenure is positioned roughly six kilometers north-northwest along the highway from that discovery. Including the 100%-owned Zetu claims that adjoin the northern border of the North Rok property (see Ashburton news release, May 1st, 2013), the Company now controls roughly 1,500 hectares in this exciting new area play. Both acquisitions have been reported as having monzonite and volcanic lithologies that are similar to those presently being drilled at North Rok (B.C. Minfile Report 21760, 1992).
To earn 100% interest in the property, the Company will pay $15,000 and issue 1.3 million shares on regulatory approval and completion of a financing, with $15,000 payable and 1.3 million shares issued on or before the 1st anniversary. The earn-in is subject to a 2% NSR, of which 1% may be purchased back for $1M dollars. A finder's fee may be payable. This transaction is subject to TSX Venture Exchange approval. The technical contents of this release were approved by Dr. Tom E. McCandless, P. Geo., Technical Advisor to GeoNovus Minerals and qualified person as defined by National Instrument 43-101. The property has not been the subject of a National Instrument 43-101 report, and 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.
ON BEHALF OF THE BOARD
Michael England, President |
