18:15:40 EDT Fri 12 Jul 2024
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or Name

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Ashley Gold Corp
Symbol ASHL
Shares Issued 36,405,248
Close 2024-05-28 C$ 0.08
Market Cap C$ 2,912,420
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Ashley Gold samples 82.3 g/t Au at Sakoose

2024-05-28 13:15 ET - News Release

Mr. Darcy Christian reports


Ashley Gold Corp. has sampled the main Sakoose vein, kicking off the start of the 2024 exploration season. Two samples were taken with one across the Sakoose vein and another adjacent to the vein in wallrock grading 82.3 grams per tonne and 0.99 g/t gold, respectively. The sampling confirms the high-grade nature of the Sakoose vein with historical production averaging 11.9 g/t Au.

Darcy Christian, chief executive officer of Ashley, commented: "Initial scouting of the historic Sakoose area was performed to GPS [Global Positioning System] locate historical shafts and workings. As part of this, our team has sampled the northeast end of a 90-metre open cut with excellent gold assays. We are excited to continue to explore the area in a busy 2024 exploration season."


Historically, a 90-metre cut was taken across the surface expression of the Sakoose vein. Samples were taken on the northeast side of the cut where the vein begins to trend back underground. The 82.3 g/t Au sample was taken in a blue-grey quartz vein, with the 0.99 g/t Au sampled adjacent to the blue-grey quartz in altered mafic wallrock. Samples were sent to Actlabs in Dryden, Ont., for fire assay. Additionally, the quartz vein sample had metallic screens performed due to the nuggety nature of the Sakoose vein.

About the Sakoose property

The Sakoose mine is located 7.5 kilometres south of Highway 17 on the Sandy Point Road, providing year-round access. The mine produced from 1897 until 1902, when the milled burned down. Total production is reported at 8,828 tonnes with average grade of 11.9 g/t Au. Historical drilling reporting is incomplete; however, in 1988, a drill program was completed, testing below the known workings. Many of these intercepts showed continuation of mineralization down to 200 metres. Potential for an additional trend is seen from the SAK-18 intercept.

Qualified person

The technical and scientific information in this news release has been reviewed and approved by Darcy Christian, PGeo, president of Ashley, who is a qualified person as defined by National Instrument 43-101.

About Ashley Gold Corp.

Ashley Gold is focused on creating substantive, long-term value for its shareholders through the discovery and development of world-class gold deposits. Ashley has acquired 100 per cent of the Tabor Lake lease, subject to a 1.5-per-cent royalty; 100 per cent of the Santa Maria project, subject to a 1.75-per-cent royalty; 100-per-cent interest in the Howie Lake project, subject to a 0.5-per-cent royalty; 100-per-cent interest in the Alto-Gardnar project, subject to a 0.5-per-cent royalty; 100-per-cent interest in the Burnthut property, subject to a 1.5-per-cent net smelter return royalty; and an option to earn 100 per cent of the Sakoose claims, subject to a 1.5-per-cent NSR. In addition, Ashley has entered into an option agreement to earn 100 per cent of the Sahara uranium-vanadium property in Emery county, Utah, subject to a 2-per-cent NSR royalty.

Ashley Gold is an early-stage natural resource company engaged primarily in the acquisition, exploration and development of mineral projects. The corporation's objective is to conduct efficient and economical exploration on its growing portfolio of high-quality gold projects as well as moving the Sahara uranium-vanadium project toward near-term production.

We seek Safe Harbor.

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