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Ashburton Ventures Inc
Symbol ABR
Shares Issued 75,131,595
Close 2011-03-07 C$ 0.175
Market Cap C$ 13,148,029
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Ashburton begins 2011 work program at Deep Creek

2011-03-08 09:22 ET - News Release

Mr. Michael England reports

ASHBURTON BEGINS 2011 WORK PROGRAM AT DEEP CREEK, NEVADA

The 2011 work program has begun for Ashburton Ventures Inc.'s Deep Creek project, located 112 kilometres north of Elko, Nev. The $1.4-million budget includes expansion of the claim position, detailed structural mapping, airborne geophysics and drilling 16 core holes for a total of 2,900 metres (9,600 feet). The objectives of the program are to locate additional zones of gold mineralization southward along the Range Front structure, and to test the depth extent of high-grade gold veins in the Upper Vein and Waterfall Vein areas (see news release in Stockwatch on Jan. 18, 2010).

Claim-staking activities were conducted in February to cover additional areas of interest that were identified through review of historical data and have now been concluded. A total of 150 claims have been staked, bringing the total land position to about 1,214 contiguous hectares (approximately 3,000 acres).

Additional structure cell mapping was also conducted in February, though outcrop exposure was limited by variable snow cover. Structure cell mapping was implemented to identify areas along the Range Front structure where greater zones of hydrothermal alteration may be encountered, as well as areas where the structure may intersect the gold-bearing veins to the east. The Range Front structure has received the bulk of historical drilling on the property, with an estimated reserve of 477,000 ounces of gold in 7.5 million tons and resource of 70,000 ounces of gold in 1.1 million tons (at a weighted average grade 0.06 ounce per ton with a 0.02-ounce-per-ton cut-off). Both the reserve and resource estimates are historical and a qualified person has not done sufficient work to classify either the historical reserve or the historical resource estimate as current mineral resources, therefore these historical reserves should not be relied on and do not have currently demonstrated economic viability (see news release in Stockwatch on Jan. 18, 2010).

Surface outcrop sampling continues for the Upper Vein and Waterfall Vein areas, to assess the gold-carrying capacity of the veins along strike. With over 640 metres of strike length, only 200 metres of the Upper Vein have been sampled continuously on surface, with 35 metres of length consistently over 10 grams per tonne of gold to date. Sampling is still early stage at the recently discovered Waterfall Vein, with a length of 200 metres but only three samples collected to date, with two assaying at 25.5 and 20.5 g/t gold. The Thirteen-Five vein located 60 metres west of the Waterfall Vein is of undetermined length has only one assay of 13.5 g/t gold collected to date (see news release in Stockwatch Jan. 18, 2011).

Permitting for road and pad construction for the drilling program has been filed with the BLM, with 16 core drill holes planned for a total of 2,900 metres (approximately 9,600 feet). In addition to the Range Front structure, drilling for 2011 will emphasize the Upper Vein and Waterfall Vein areas, proving out the known veins at depth, and testing for additional veins not seen at surface including potential northeast-trending structures. Drilling will also test for the extension of the vein systems beneath Tertiary volcanics to the southeast. Bids from several drilling companies are being received with drilling to start early in the second quarter, or sooner if weather permits.

Bids have also been received for an airborne magnetic/electromagnetic survey of the property. Roughly 1,600 line kilometres are planned, with the objective to identify regional structures, lithologic contacts and areas of alteration and mineralization beneath volcanics and alluvial cover.

The technical contents of this release were approved by Dr. Tom McCandless, PGeo, vice-president of exploration for Ashburton and a qualified person as defined by National Instrument 43-101.

We seek Safe Harbor.

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