08:46:46 EDT Wed 20 May 2026
Enter Symbol
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Ashley Gold Corp. - Common Shares
Symbol ASHL
Shares Issued 86,349,873
Close 2026-05-19 C$ 0.075
Market Cap C$ 6,476,240
Recent Sedar+ Documents

ORIGINAL: Ashley Gold Corp. Intercepts Multiple Gold Bearing Intervals Including 0.586 g/t Au over 34.2 m From Surface Within 194.1 m of Anomalous Gold Mineralization - Bordering the NexGold Goliath-Gold Complex, Dryden Area, Ontario

2026-05-20 08:00 ET - News Release

(via TheNewswire)

Ashley Gold Corp.

CALGARY, ALBERTA – TheNewswire - May 20, 2026 - Ashley Gold Corp. (CSE: “ASHL”) (“Ashley ” or the “Company ”) is pleased to share its second assay result from the recently completed Phase 1 drill program on its wholly owned Tak Patents.

 

Highlights:

  • TAK-26-02 returns wide gold zone near surface, terminates in mineralization, 

  • Results suggest broad width of the D99Z , south of previously reported TAK-26-01 (1.104 g/t Au over 28 m), with additional width to be confirmed in holes TAK-26-04 and TAK-26-05. 

  • Assays from 3 holes remain pending. 

  


Click Image To View Full Size

 

Figure 1: Regional Map and Area of Activity

 

President Noah Komavli:

“This hole demonstrates gold mineralization throughout much of its length, highlighted by a strong near-surface intercept in Zone 1 of 34.2 metres grading 0.586 g/t Au, including 9.2 metres at 1.262 g/t Au. Additional mineralized zones were returned in the middle and lower sections of the hole. TAK-26-02 was the deepest drilled thus far on the property, and it’s encouraging to see mineralization continuing at depths below any previously drilled sections. This is particularly important as we have yet to define the boundaries of the gold mineralization or understand the plumbing of this system. As I stated when we released TAK-26-01, we are only beginning to scratch the surface of these claims, with results giving us invaluable data on the gold mineralization in the Tak Porphyry unit. I look forward to the next results!”

 

CEO Darcy Christian on Phase 1 and TAK-26-02 assays:

“The D99Z surface gold mineralized zone looks to be pervasive based on the first two holes of the 2026 program coupled with historical information. We currently estimate surface width at over 80m with the results from upcoming holes having the potential to increase this.”

  

Project Map


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Figure 2: Area of Reported Assays - Surficial Resistivity


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Figure 3: D99Z Cross Section

 

Core Images

       
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Figure 4: TAK-26-02 - Part of Sample 2415181 - Quartz Stockwork with Example Mineralization - Returning 0.642 g/t Au


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Figure 5: TAK-26-02 - Part of Sample 2415181 - 0.6m Downhole from Figure 4, Quartz Stockwork with Example Mineralization

 


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Figure 6: TAK-26-02 - Example Mineralization - Hydrothermal Pyrite Veinlet in Altered QFP

   

Assays and Discussion

 


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Table 1: Drilling Location Data

 

TAK-26-02 was designed as an eastern fan from TAK-02-02. The results display gold mineralization starting at the drill hole collar, with a notable gold interval over 34.2 m. The entire hole returned anomalous gold values, with three distinct zones (Zones 1, 2, and 3).

 


Click Image To View Full Size

 

Table 2: Significant Composite Assay Intervals in TAK-26-02

  

Hole_ID

Sample #

From (m)

To (m)

Length (m)

Gold (g/t)

TAK-26-02

2415063

3.00

4.00

1.00

0.149

TAK-26-02

2415064

4.00

5.00

1.00

0.251

TAK-26-02

2415065

5.00

6.00

1.00

0.049

TAK-26-02

2415066

6.00

7.00

1.00

0.014

TAK-26-02

2415067

7.00

8.00

1.00

2.200

TAK-26-02

2415068

8.00

9.00

1.00

0.026

TAK-26-02

2415069

9.00

10.00

1.00

0.073

TAK-26-02

2415071

10.00

11.00

1.00

0.881

TAK-26-02

2415072

11.00

12.00

1.00

0.075

TAK-26-02

2415073

12.00

13.00

1.00

0.039

TAK-26-02

2415074

13.00

14.00

1.00

0.088

TAK-26-02

2415075

14.00

15.00

1.00

0.020

TAK-26-02

2415076

15.00

16.00

1.00

0.074

TAK-26-02

2415077

16.00

17.00

1.00

0.040

TAK-26-02

2415078

17.00

18.00

1.00

0.077

TAK-26-02

2415079

18.00

19.00

1.00

1.640

TAK-26-02

2415081

19.00

20.00

1.00

0.267

TAK-26-02

2415082

20.00

21.00

1.00

0.444

TAK-26-02

2415083

21.00

22.00

1.00

0.088

TAK-26-02

2415084

22.00

23.00

1.00

0.072

TAK-26-02

2415085

23.00

24.00

1.00

0.507

TAK-26-02

2415086

24.00

24.80

0.80

0.543

TAK-26-02

2415087

24.80

25.80

1.00

0.321

TAK-26-02

2415088

25.80

27.00

1.20

0.295

TAK-26-02

2415089

27.00

28.00

1.00

0.263

TAK-26-02

2415091

28.00

29.00

1.00

2.860

TAK-26-02

2415092

29.00

30.00

1.00

0.046

TAK-26-02

2415093

30.00

31.00

1.00

0.405

TAK-26-02

2415094

31.00

32.00

1.00

0.293

TAK-26-02

2415095

32.00

33.00

1.00

0.031

TAK-26-02

2415096

33.00

34.00

1.00

0.472

TAK-26-02

2415097

34.00

35.00

1.00

0.993

TAK-26-02

2415098

35.00

36.20

1.20

4.850

TAK-26-02

2415099

36.20

37.20

1.00

0.687

TAK-26-02

2415101

37.20

38.00

0.80

0.063

TAK-26-02

2415102

38.00

39.00

1.00

0.036

TAK-26-02

2415103

39.00

40.00

1.00

0.080

TAK-26-02

2415104

40.00

41.00

1.00

0.038

TAK-26-02

2415105

41.00

42.00

1.00

0.057

TAK-26-02

2415106

42.00

43.35

1.35

0.129

TAK-26-02

2415107

43.35

43.75

0.40

0.186

TAK-26-02

2415108

43.75

45.00

1.25

0.189

TAK-26-02

2415109

45.00

46.00

1.00

0.013

TAK-26-02

2415111

46.00

47.00

1.00

0.049

TAK-26-02

2415112

47.00

48.00

1.00

0.012

TAK-26-02

2415113

48.00

49.00

1.00

0.003

TAK-26-02

2415114

49.00

50.00

1.00

0.080

TAK-26-02

2415115

50.00

51.00

1.00

0.008

TAK-26-02

2415116

51.00

52.00

1.00

0.063

TAK-26-02

2415117

52.00

53.00

1.00

0.107

TAK-26-02

2415118

53.00

54.00

1.00

0.060

TAK-26-02

2415119

54.00

55.00

1.00

0.017

TAK-26-02

2415121

55.00

56.00

1.00

0.071

TAK-26-02

2415122

56.00

57.00

1.00

0.010

TAK-26-02

2415123

57.00

58.50

1.50

0.018

TAK-26-02

2415124

58.50

60.00

1.50

0.920

TAK-26-02

2415125

60.00

61.50

1.50

0.431

TAK-26-02

2415126

61.50

62.75

1.25

0.083

TAK-26-02

2415127

62.75

64.00

1.25

0.089

TAK-26-02

2415128

64.00

65.50

1.50

0.003

TAK-26-02

2415129

65.50

67.00

1.50

0.012

TAK-26-02

2415131

67.00

68.50

1.50

0.120

TAK-26-02

2415132

68.50

70.00

1.50

0.060

TAK-26-02

2415133

70.00

71.50

1.50

0.008

TAK-26-02

2415134

71.50

73.00

1.50

0.003

TAK-26-02

2415135

73.00

73.75

0.75

0.007

TAK-26-02

2415136

73.75

74.50

0.75

0.200

TAK-26-02

2415137

74.50

76.00

1.50

0.064

TAK-26-02

2415138

76.00

77.50

1.50

0.017

TAK-26-02

2415139

77.50

79.00

1.50

0.023

TAK-26-02

2415141

79.00

80.50

1.50

0.068

TAK-26-02

2415142

80.50

82.00

1.50

0.145

TAK-26-02

2415143

82.00

83.50

1.50

0.011

TAK-26-02

2415144

83.50

85.00

1.50

0.007

TAK-26-02

2415145

85.00

86.00

1.00

0.040

TAK-26-02

2415146

86.00

87.00

1.00

0.010

TAK-26-02

2415147

87.00

88.00

1.00

0.172

TAK-26-02

2415148

88.00

89.00

1.00

0.232

TAK-26-02

2415149

89.00

90.25

1.25

0.176

TAK-26-02

2415151

90.25

91.25

1.00

1.220

TAK-26-02

2415152

91.25

92.75

1.50

1.110

TAK-26-02

2415153

92.75

93.75

1.00

0.013

TAK-26-02

2415154

93.75

95.25

1.50

0.210

TAK-26-02

2415155

95.25

96.50

1.25

0.418

TAK-26-02

2415156

96.50

97.75

1.25

0.035

TAK-26-02

2415157

97.75

99.25

1.50

0.125

TAK-26-02

2415158

99.25

101.00

1.75

0.223

TAK-26-02

2415159

101.00

102.50

1.50

0.052

TAK-26-02

2415161

102.50

103.50

1.00

0.003

TAK-26-02

2415162

103.50

104.50

1.00

0.003

TAK-26-02

2415163

104.50

105.50

1.00

0.053

TAK-26-02

2415164

105.50

107.00

1.50

0.194

TAK-26-02

2415165

107.00

108.50

1.50

0.913

TAK-26-02

2415166

108.50

110.00

1.50

0.024

TAK-26-02

2415167

110.00

111.00

1.00

0.031

TAK-26-02

2415168

111.00

112.20

1.20

0.066

TAK-26-02

2415169

112.20

113.00

0.80

0.010

TAK-26-02

2415171

113.00

114.30

1.30

0.084

TAK-26-02

2415172

114.30

115.80

1.50

0.016

TAK-26-02

2415173

115.80

117.00

1.20

0.003

TAK-26-02

2415174

117.00

118.25

1.25

0.012

TAK-26-02

2415175

118.25

119.60

1.35

0.117

TAK-26-02

2415176

119.60

121.00

1.40

0.141

TAK-26-02

2415177

121.00

122.50

1.50

1.120

TAK-26-02

2415178

122.50

124.00

1.50

0.407

TAK-26-02

2415179

124.00

125.00

1.00

1.140

TAK-26-02

2415181

125.00

126.00

1.00

0.642

TAK-26-02

2415182

126.00

127.00

1.00

1.260

TAK-26-02

2415183

127.00

128.50

1.50

0.596

TAK-26-02

2415184

128.50

130.00

1.50

0.069

TAK-26-02

2415185

130.00

131.50

1.50

0.042

TAK-26-02

2415186

131.50

133.00

1.50

0.123

TAK-26-02

2415187

133.00

134.50

1.50

0.018

TAK-26-02

2415188

134.50

135.50

1.00

1.190

TAK-26-02

2415189

135.50

137.00

1.50

0.286

TAK-26-02

2415191

137.00

138.00

1.00

0.122

TAK-26-02

2415192

138.00

138.50

0.50

0.423

TAK-26-02

2415193

138.50

140.00

1.50

0.182

TAK-26-02

2415194

140.00

141.50

1.50

0.065

TAK-26-02

2415195

141.50

142.00

0.50

0.209

TAK-26-02

2415196

142.00

143.00

1.00

0.051

TAK-26-02

2415197

143.00

144.00

1.00

0.043

TAK-26-02

2415198

144.00

145.50

1.50

0.035

TAK-26-02

2415199

145.50

146.50

1.00

0.086

TAK-26-02

2415201

146.50

147.50

1.00

0.006

TAK-26-02

2415202

147.50

149.00

1.50

0.003

TAK-26-02

2415203

149.00

150.50

1.50

0.053

TAK-26-02

2415204

150.50

152.00

1.50

0.055

TAK-26-02

2415205

152.00

153.40

1.40

0.053

TAK-26-02

2415206

153.40

154.90

1.50

0.277

TAK-26-02

2415207

154.90

156.40

1.50

0.009

TAK-26-02

2415208

156.40

157.90

1.50

0.006

TAK-26-02

2415209

157.90

159.40

1.50

0.003

TAK-26-02

2415211

159.40

161.00

1.60

0.114

TAK-26-02

2415212

161.00

162.50

1.50

0.003

TAK-26-02

2415213

162.50

164.00

1.50

0.014

TAK-26-02

2415214

164.00

165.50

1.50

0.003

TAK-26-02

2415215

165.50

167.00

1.50

0.003

TAK-26-02

2415216

167.00

168.50

1.50

0.031

TAK-26-02

2415217

168.50

170.00

1.50

0.070

TAK-26-02

2415218

170.00

171.50

1.50

0.087

TAK-26-02

2415219

171.50

172.60

1.10

0.003

TAK-26-02

2415221

172.60

173.60

1.00

0.035

TAK-26-02

2415222

173.60

174.65

1.05

0.073

TAK-26-02

2415223

174.65

175.45

0.80

1.110

TAK-26-02

2415224

175.45

176.95

1.50

0.120

TAK-26-02

2415225

176.95

178.50

1.55

0.095

TAK-26-02

2415226

178.50

180.00

1.50

0.119

TAK-26-02

2415227

180.00

181.50

1.50

0.107

TAK-26-02

2415228

181.50

183.00

1.50

0.088

TAK-26-02

2415230

183.00

184.00

1.00

0.298

TAK-26-02

2415231

184.00

185.50

1.50

0.193

TAK-26-02

2415232

185.50

187.00

1.50

0.313

TAK-26-02

2415233

187.00

188.50

1.50

0.381

TAK-26-02

2415234

188.50

189.80

1.30

0.206

TAK-26-02

2415235

189.80

190.70

0.90

0.571

TAK-26-02

2415236

190.70

192.20

1.50

0.095

TAK-26-02

2415237

192.20

193.70

1.50

0.082

TAK-26-02

2415238

193.70

194.90

1.20

0.483

TAK-26-02

2415239

194.90

196.20

1.30

0.382

TAK-26-02

2415241

196.20

197.10

0.90

0.509

 

Table 3: Assay Results

 

Phase 1&2 - Next Steps

 

Phase 1 drilling focused on validating the historic holes drilled in 1999, as core is unavailable. Core from 2002 may have been cut to quarters in some sections, and therefore spacing of holes in Phase 1 drilling was planned to validate as much data as possible between 2002 and 1999 holes. TAK-26-02 and TAK-26-03 are the deepest holes drilled on the property to date, and mineralization present in the bottom of the holes displayed pervasive green sericite-chlorite alteration, brecciation, and quartz veining accompanied by an increased sulphide content, all of which could potentially indicate a higher degree of interaction with hydrothermal fluids.

 

Phase 2 mobilization will be announced formally by the Company, with a start date estimated for late May 2026. The Phase 2 program will pick up in the 67 Zone (“67Z ”), with one hole confirming mineralization from TAK-02-06 and TAK-02-07, through a split between the holes and/or a step back.

 

TAK-02-06 returned an intersection from 27.27 to 35.30 m that assayed 3.08 g/t Au over 7.57 metres; however, this included an assay of 13.l g/t over 0.75 m that could not be repeated despite 9 re-assays, again indicating the nugget effect of the gold mineralization. The hole also returned an assay of 7.0 g/t Au over 1.1 from 81.3 to 82.4 m within a breccia zone with quartz-carb infilling and 1-2% pyrite. (Southern Rio, 2002)

 

TAK-02-07 returned an intersection from 27.70 to 36.40 m that assayed 3.18 g/t Au over 8.7 metres; this includes 8.62 g/t Au over 0.5 m from 27.70 to 28.20 m, 9.67 g/t Au over 0.8 m from 29.45 to 30.25 m, and 7.57 g/t Au over l .4 m from 35.00 to 36.40 m. (Southern Rio, 2002)

 

From here, the Company expects to drill in an exploratory nature in zones of interest, at 50m spacings, or in scissors to test plunges. Assay results from the pending holes may have a material impact on planning, as well as the final IP report, which is due shortly.  

 

QA/QC

 

The Company adheres to a strict QA/QC protocol for handling, sampling, sample transportation and analyses. Drill core was boxed, covered and sealed at the drill rig site. Core boxes were labelled with the official drillhole name and identified in numerical sequence starting from beginning of the hole to the end. Wooden blocks with the corresponding down hole meterage were inserted after every drill run by the drill contractor. Drill core boxes were transported by contactors to the onsite logging facility where Company personnel took over the core handling.

 

All drilling at the Tak project recovers NQ core. Drill core is systematically cut in half using a diamond saw. A qualified geologist examines the intact drill core, marking intervals for sampling and indicating the cutting line. Sample lengths are typically 1.0 metre, adjusted to a maximum of 1.5 meters or a minimum length of 0.3 metre as necessary to respect lithological and/or mineralogical contacts and to isolate narrow veins or structures that may contain higher-grade mineralization.

 

Technicians saw the core along the cutting lines determined by the geologist. One half of the core is retained as a representative sample, while the other half is submitted for analysis. Individual sample bags are labelled, tagged, and securely sealed - being then placed into rice bags, which are clearly marked with their contents. Each rice bag tends to hold 10 sample bags and is then sealed at capacity. The Company submits samples for gold determination by fire assay to ActLabs - Dryden. (“ActLabs”).

 

Samples were securely couriered to ActLabs in Dryden, ON by Company management and Company representatives for 1A2 Au fire assay with an Atomic Absorption finish. Samples are dried and pulverized with subsequent sample size of 5 to 50 grams. The sample is mixed with fire assay fluxes (borax, soda ash, silica, litharge) and with Ag added as a collector and the mixture is placed in a fire clay crucible. The mixture is then preheated at 850°C, intermediate 950°C and finished at 1060°C with the entire fusion process lasting 60 minutes. The crucibles are then removed from the assay furnace and the molten slag (lighter material) is carefully poured from the crucible into a mould, leaving a lead button at the base of the mould. The lead button is then placed in a preheated cupel which absorbs the lead when cupelled at 950°C to recover the Ag (doré bead) + Au. Au is separated from the Ag in the doré bead by parting with nitric acid. The resulting gold flake is annealed using a torch. The gold flake remaining is then weighed on a microbalance to get the final assay value. When the sample returns over the limit of detection for the Fire Assay – AA method, the sample is re-processed and analyzed via the Actlabs 1A3 Au Fire Assay - Gravimetric method.

 

Tak References

 

Property MDI Link: https://www.geologyontario.mndm.gov.on.ca/mndmfiles/mdi/data/records/MDI000000002119.html

 

Wedge Zone assays: https://prd-0420-geoontario-0000-blob-cge0eud7azhvfsf7.z01.azurefd.net/lrc-geology-documents/assessment/52G13NW2001/52G13NW2001.PdF

 

Triex logs (TAK-99 holes):

https://prd-0420-geoontario-0000-blob-cge0eud7azhvfsf7.z01.azurefd.net/lrc-geology-documents/assessment/52G13NW2002/52G13NW2002.Pdf

 

Southern Rio logs (TAK-02 holes):

https://prd-0420-geoontario-0000-blob-cge0eud7azhvfsf7.z01.azurefd.net/lrc-geology-documents/assessment/52F16NE2006/52F16NE2006.Pdf

 

NI 43-101 Disclosure

The technical information in this news release was reviewed and approved by Shannon Baird, P.Geo., a Qualified Person as defined in National Instrument 43-101. Mr. Baird is Exploration Manager of Ashley Gold Corp. and registered as a Professional Geoscientist with the Professional Geoscientists of Ontario as well as the Engineers and Geoscientists of British Columbia.

 

*Management cautions that core visuals are selective in nature to begin with and is not representative of the hole in its entirety or indicative of any grade overall. Assay results are pending and visual identification of minerals does not guarantee economic grades. These preliminary visual observations are awaiting laboratory confirmation.

 

ABOUT ASHLEY GOLD CORP.

Ashley Gold Corp. is a Canadian mineral exploration company focused on acquiring and developing highly prospective gold and polymetallic deposits in Canada’s top mining regions. The Company’s flagship assets are in the Dryden Area in Ontario with a 100% ownership in Burnthut (including the Tak Patents), Howie, and Alto-Gardnar claims as well as in British Columbia with the Icefield Portfolio having two highly prospective claim packages.

 

For more information, please refer to the Company’s information available on SEDAR+  (www.sedarplus.ca), or visit us at www.ashleygoldcorp.com .

 

Contact Information

On behalf of the Board of Directors,

 

“Noah Komavli”

Noah J. Komavli, P.Eng, President, Director

 

C: (647) 567-9840

E: info@ashleygoldcorp.com
X: KKomavli

 

-Or-

 

Darcy Christian, P.Geo, CEO

C: (587) 777-9072

E: dchristian@ashleygoldcorp.com

  

Connect With Ashley:

www.ashleygoldcorp.com

X: https://x.com/AshleyGoldCorp

 

Forward-Looking Statements

This news release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, Ashley Gold Corp. provides no assurance that actual results will meet management’s expectations. Factors which cause results to differ materially are set out in the Company’s documents filed on SEDAR+ (www.sedarplus.ca) (www.sedarplus.ca). Undue reliance should not be placed on “forward-looking statements.”

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