Multibagger from these levels MINIMUMATN release:Completion of...

Multibagger from these levels MINIMUM


ATN release:

Completion of Mt Webb driling



Dear Sir/Madam

MT WEBB EXPLORATION CAMPAIGN COMPLETED

Ashburton wishes to advise the market of the completion of the recent exploration campaign at the Mt Webb IOCG project in Western Australia, with preliminary drilling results, in particular, being very positive.

The implementation of the various programmes was a total success with a large amount of new data collected. The work completed included the drilling of 10 RC (reverse circulation) holes for 1,436 m and 74 m of diamond core in two tails. Also completed were a soil sampling programme over the Pokali prospect and a regional soil sampling programme (total: 779 samples). Assay results from this work are expected to begin to become available from early next week. In addition, a 5-line ground-based IP (Induced Polarisation) geophysical survey was completed at Pokali.
The principal aim of the Company’s involvement at Mt Webb is to determine the potential of the area, in general, to host economic copper mineralisation, with initial emphasis being on the Pokali prospect where Ashburton has now drilled 15 holes.

Field results stemming from the visual inspection of the RC drill chips and the diamond core are very encouraging and confirm the widespread occurrence of copper mineralisation throughout the Pokali prospect. All but one of the holes intersected anomalous levels of visible chalcopyrite. For example, hole PKC012 drilled the “Leg Ham” target and intersected 38 m (from 118 m to 156 m) of altered metabasalt with variable amounts of chalcopyrite, generally 1%-2%, occasionally up to 5%-7.5%.

Chalcopyrite has now been confirmed down hole in appreciable (visible) quantities over a strike length of in excess of 2 km, in several sub-parallel zones. This is an excellent result that bodes well for the potential of the Pokali area to host a significant coherent body of copper mineralisation.

Ashburton looks forward to receiving the assay results from all facets of the recent campaign and will provide further information to the market as it becomes available.

Yours faithfully,

Tom Dukovcic