Thursday, September 15, 2016 10:04:09 AM
Obviously management must be encouraged by results of their exploration work. Assays reports should be available soon.
"Ashburton Ventures Inc. has signed an agreement to increase its stake in the Buckingham project from an option to acquire 60 per cent now up to 80 per cent (see news release dated Oct. 15, 2015). To earn the additional percentage Ashburton has fulfilled the existing option terms to earn its 60% interest, will pay an additional $5,000 cash plus incur an additional $200,000 in expenditures to Cavan Ventures Inc.
President and chief executive officer Michael England stated: "With the success of the recent round of drilling at Buckingham we are excited to have acquired this additional stake in the project. The phase 2 drill program is now complete and we look forward to releasing assay results as they arrive. "
About the Buckingham Graphite Project
The Buckingham graphite property consists of 18 claims located in ranges VIII and IX, Buckingham Township, Quebec and covers an area of 1,082 hectares. Channel sampling in the SW end of the 1.1 km conductor has yielded assay results of 21.6 per cent Cg (graphitic carbon) over 14.5 m (see Cavan news releases dated July 17, 2014). The drilling program returned assays of 4.07 wt. Cg % over 112 m (see PR dated February 11, 2016), 11.09 wt. % Cg over 16 m and3.29 wt. % Cg over 88 m. (see PR dated June 23rd 2016).
The technical contents of this release were approved by Michel Boily, PhD, P.Geo a Qualified Person as defined by National Instrument 43-101. The properties have not been the subject of a National Instrument 43-101 report"
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