Business
Ashley Gold Completes Kenora District Land Consolidation with 100% Acquisition of the Tabor Lake Mine Lease
Calgary, Alberta – TheNewswire - October 18, 2022 – Ashley Gold Corp. ("Ashley" or the "Company") (CSE:ASHL) is pleased to announce it has entered into a proper
About this update from Ashley Gold Corp.
[{"type":"text","content":"Calgary, Alberta – TheNewswire - October 18, 2022 – Ashley Gold Corp. (\"Ashley\" or the \"Company\") (CSE:ASHL) is pleased to announce it has entered into a property purchase agreement dated October 13, 2022 (the \"Agreement\"), to purchase a lease block located SE of Dryden, Ontario, known as the Tabor Lake Mine (the \"Property\"). HISTORICAL EXPLORATION HIGHLIGHTS* DDH-8 (1958) – Three (3), 3ft (0.9m) wide Parallel Veins over 60m with historical assays ranging between 1.93 oz/t (60.03 g/t) Au* and 26.95 oz/t (838.24 g/t) Au* Mine Dewatering and Sampling Program (1982) – Samples taken from the historical 125ft and 250ft levels described as “Wall Rock” averaged 0.59 g/t Au*. “Vein” assays up to 352 g/t Au*. Historical Bulk Sampling (1938)– Open cut (surface) 77 tons milled with an average grade of 0.54 oz/t (16.8 g/t) Au*. A 1.75 ton sample at 125 ft drift average 1.5 oz/t (42.43 g/t) Au*. *Please note, the gold grades, depths, and widths of drilling intercepts, historic workings architecture and average mining grades, and bulk sample sizes and grades are all historic in nature and non-compliant to the current 43-101 standards of reporting and cannot be accurately verified by the issuer at this time. George Stephenson, President and CEO of Ashley, commented, “The Acquisition of the Tabor Lake Mine lease finalizes the consolidation of the strategic contiguous land position to the northwest of our existing Santa Maria project that we acquired this summer. Although the Tabor Lake Lease covers a small area “ (257.15 hectares), “the claims are of particular significance because they align with a VTEM and magnetic geophysical survey trend that runs from the southeast to the northwest of our newly amalgamated project. Ashley’s exploration team is looking forward to getting out into the field to start collecting samples and furthering their knowledge of the mineralized system at the Tabor Lake Mine”. ABOUT THE TABOR LAKE PROPERTY The property is located approximately 40 km southeast of Dryden, Ontario and is readily accessible by travelling 35 km east of Dryden via Trans-Canada Highway (Hwy 17) then heading south approximately 7 km on an all season maintained gravel logging road known as Snake Bay Road for 7 km. From this point, Camp 33 Road and numerous historic logging roads head east for 5 km and t...