CALGARY, ALBERTA, June 19, 2024 – TheNewswire – Ashley Gold Corp. (CSE: “ASHL”) (“Ashley” or the “Company”) announces the addition of four claims to the Sakoose Option Agreement just east of the Tabor Lease. These claims have never been drilled, however, in 1980, a high-grade surface sample grading 33 g/t Au* was acquired. Additionally, the Company has successfully completed the field acquisition of the Howie Gradient IP Survey, with data expected next month.
Highlights
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Historical sampling grading 33g/t Au* on new claims
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On trend with Tabor deposit with 2023 drill program hitting 5g/t Au over 8m including 41 g/t over 1m
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Completion of Howie Gradient IP survey with data expected July
*Historical sample non-43-101 compliant
Darcy Christian, CEO of Ashley comments “These new claims exhibit a similar high-grade quartz vein hosted in a Quartz Feldspar Porphyry as seen at the Tabor deposit. We are eager to confirm the historical results and explore the potential strike-length to the Tabor system. The successful completion of the Howie Gradient IP survey, without any environmental or personnel issues, sets us up well for the processed data expected next month.”
Figure 1. Location of New Sakoose Option Claims
Additional Insight: Importance of Geological Sampling
Geological sampling, like the one conducted in 1980 that revealed the high-grade surface sample, is crucial for identifying potential mineral deposits. The presence of a quartz vein in a Quartz Feldspar Porphyry, as seen in these claims, indicates the potential for valuable mineralization. Confirming historical results through sampling and exploration can lead to significant discoveries and the expansion of mineral resource estimates.
About the Additional Claims
The additional claims are located just east of the Tabor Lease and contain the Star Apple occurrence sampled in 1980 by Sulpetro Metals. Described in historical reports as a quartz vein in a QFP, a single sample across 25cm graded 33 g/t Au* and 8.7 g/t Ag* (1.18 oz/t Au* and 0.31 oz/t Ag*). These claims are likely part of the same mineral system as the Tabor deposit, indicating significant potential for further exploration and discovery.
The Howie Gradient IP Survey’s successful field acquisition without any environmental or personnel issues demonstrates Ashley Gold’s commitment to responsible exploration practices. The processed data from this survey will provide valuable insights for identifying potential drill targets at depth, leading to further exploration and potential resource expansion.
Figure 2. Location of Howie gradient IP Survey Lines
Samples in this news release denoted with an Asterix (*) are historical in nature and are not 43-101 compliant.
Qualified Person
The technical and scientific information in this news release has been reviewed and approved by Darcy Christian, P.Geo., President of Ashley, who is a Qualified Person as defined by NI 43-101.
About Ashley Gold
Ashley Gold is focused on creating substantive, long-term value for its shareholders through the discovery and development of world-class gold deposits. Ashley’s expansion of its mineral projects and strategic exploration initiatives reflect its commitment to sustainable growth and value creation for investors.
The responsibility of this release lies with Mr. Darcy Christian, President and CEO • +1 (587) 777-9072 • This email address is being protected from spambots. You need JavaScript enabled to view it. , may be contacted for further information. www.ashleygoldcorp.com
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
DISCLAIMER & 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. Undue reliance should not be placed on “forward-looking statements”.
