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ASHBURTON COMPLETES PHASE 3, SUBMITS CANNABIS FLOWERS TO MB LABS, AWAITS FINAL RESULTS OF CANNABIS-ZEOLITE STUDY
Ashburton Ventures Inc. has noted that dried marijuana samples have arrived at MB Labs in Sidney, B.C., a cannabis analytics laboratory certified by Health Canada. Analysis of the marijuana pertains to the third and final phase of Ashburton's study which will measure chemical elements and medically-active compounds in the flowers of cannabis grown in zeolite and zeolite-carbon blends.
Phase Three is designed to indicate whether cannabis grown with zeolite from the Z1 Zeolite Quarry near Cache Creek, BC, produces a higher quality of cannabis than that grown in the absence of zeolite or zeolite-carbon blends. Lab results are expected by mid-August. In addition, total plant yields of dried cannabis will be weighed to determine whether zeolite and carbon can increase overall marijuana production.
Results from Phase Two of the study are still pending. A second Phase One data set from liquid runoff analysis has arrived from MB Labs and has been submitted to biologist and master grower Albert Kasprowicz for interpretation. News of these results is imminent.
Kasprowicz previously stated that these results could be a "game changer" for cannabis cultivation, should the second data set confirm the initial results that revealed trends of an unexpected magnitude. He noted a sharp reduction in fungal and bacterial pathogens coupled with a high retention of key nutrients in the root zone of plants potted with zeolite and zeolite-carbon blends. Kasprowicz suggested that these factors inevitably correlate to higher plant health and productivity.
MB Labs is currently conducting Phase Two chemical analysis of soil and leaf tissue. Results are scheduled for release in the coming weeks. A chemical profile of both soil and leaf tissue will reveal potential nutrient uptake trends. Of special interest is the effect of zeolite and carbon on the bioavailability of ionic elements to cannabis.
"Having monitored this study with close attention, we have reason to be believe the data could reveal distinct advantages to growing cannabis with Z-1 zeolite and T-Carbon," stated Tim Harvey, Chief Operations Officer of Ashburton Ventures.
Harvey continued, "For the greenhouse facility operators, visible differences - a lusher canopy where zeolite had been applied, for example - were a factor in their decision to order 20 tons of our premium Z-1 zeolite. They also took note of immense labour savings due to zeolite's water-retention capacity. There is no longer any question that zeolite offers benefits to marijuana cultivators. The question remaining is whether it helps the end customer as well. Customers demand quality, and the quality of marijuana is exactly what the lab analysis of dried flowers will explore. We'll soon know if yields, efficiency and quality are all positively impacted by growing cannabis with Z-1 zeolite and carbon."
MINING ACTIVITIES RESUME AT THE Z-1 ZEOLITE QUARRY A
The evacuation order at Ashburton Ventures Inc.'s Z-1 zeolite quarry has been rescinded. Quarry operator ZMM Canada Minerals Corp. has recommenced mining processing activities at the Z-1 Zeolite Quarry.
On July 8, 2017, the property located three kilometers NE of Cache Creek, BC, was placed under an evacuation order due to the Elephant Hill fire. There was no fire on the property and no damage to any of the equipment, Quarry or stockpiled zeolite.
Crews will remove 15,000 cubic yards of overburden to improve site access. Prior work on the property involved extracting approximately 9000 tons of zeolite which was crushed and placed in a stockpile. Crews will open the stockpile to check for moisture content and spread the pile as necessary for rapid dehydration. Crushing will then reduce the 3/4 minus zeolite to a 1/4 minus particle size. 1/4 minus zeolite has a maximum diameter of 1/4 inch but contains a range of particle sizes down to fine fractions.
The zeolite will be loaded into one-ton bulk bags and stacked in a location protected from the elements, ready to be trucked directly to customers, to distribution hubs or for further processing and packaging at an off-site location.
LuVerne Hogg, Operations Manager of the Z-1 Quarry jointly operated by Ashburton and ZMM Minerals Canada Corp, stated "The point of this work is to get us to where we can sell and deliver products. Operations will be twelve hours a day, six days a week until the entire stockpile of zeolite is crushed and bagged. We estimate that this phase of operations will be completed by the end of August."
Ashburton President David Gdanski stated, "We are extremely pleased to have crews back at work in a safe environment. This is a historic moment for the Z-1 Quarry as we approach making our products widely available. This work also brings Ashburton a significant step closer to earning a 100% undivided ownership interest in the mineral claims of the Z-1 Quarry according to the terms of the January 23rd Option Agreement between ZMM and ABR."
Gdanski added, "We continue to monitor the wildfire situation in the BC Interior. We at Ashburton extend our deepest sympathies to families and workers impacted by the fires."
The technical contents of this release were approved by LuVerne E.W. Hogg, a Qualified Person as defined by National Instrument 43-101. The properties have not been the subject of a National Instrument 43-101 report.
Ashburton Ventures Inc. is a Canadian-based junior exploration company focused on Canadian mineral projects in Quebec and British Columbia, Canada. If you would like to be added to the news release distribution please get in touch with us at info@ashburtonventures.com.
ANOTHER COMPANY SIMILAR TO ASHBURTON WITH VERY LOW VOLUME. SAME CEO AS ASHBURTON MAYBE THIS COULD BE AGOOD ONE, WHAT DO YOU GUYS THINK? BTU CAPITAL CORP. (BTU:TSX-V)
ANOTHER COMPANY SIMILAR TO ASHBURTON WITH VERY LOW VOLUME. SAME CEO AS ASHBURTON MAYBE THIS COULD BE AGOOD ONE, WHAT DO YOU GUYS THINK?
– ASHBURTON VENTURES INC. (ABR-TSX:V) (ARB-FRANKFURT) (“Ashburton” or the "Company”) has been advised by ZMM Canada that the Application under the Provincial BC Mines Act Permit has been made to the British Columbia Ministry of Energy Mines on the TransCanada Zeolite property.
The Notice of Work and Reclamation Program application was submitted in April 2017. A reclamation security deposit has been made. The permit is for the removal of a bulk sample of 1,000 tonnes of the deposit. The TransCanada Zeolite property is located east of Kamloops, BC; 2 km east of Highway 97 and within 6 km of the TransCanada Highway.
The Notice of Work includes upgrading an access road to the quarry site. Mining of the 1,000-tonne sample will be by excavator; the material will be hauled 300 metres by rock trucks and stockpiled. A crusher will be brought in to crush the zeolite to less than 1/4 inch. Further processing and handling will be off the mine site.
The bulk sample will enable testing of the crystalline, high-purity zeolite. The high purity crystalline zeolite is slated for clean tech applications in the areas of molecular sieves, gas separation and purifying gas streams utilizing the exceptional properties of the zeolite. Other products will be produced for horticulture, agriculture and used in specialty cementations materials.
We are looking forward to moving ahead with the development of this unique resource and providing clean tech environmental and industrial solutions. We are organized to proceed as soon as the mine permits are received.
“The exceptional properties of crystalline zeolite lead to applications in numerous clean technology solutions like reverse adsorption systems, thermal energy harvesting and solar energy storage. This will be a first for British Columbia”, said LuVerne E.W. Hogg, CEO of ZMM Canada Minerals Corp.
Ashburton Ventures Inc. is a Canadian-based junior exploration company focused on Canadian mineral projects in Quebec and British Columbia, Canada. If you would like to be added to the news release distribution please get in touch with us at info@ashburtonventures.com.
ASHBURTON RECEIVES MICROBIOLOGY RESULTS FOR CANNABIS STUDY, CONFIRMS INITIAL SUCCESS IN DECREASING BACTERIA IN MARIJUANA PLANTS
Ashburton Ventures Inc. has released data obtained from laboratory analysis at MB Labs in Sidney, B.C., of the microbiology of liquid runoff captured from cannabis plants involved in a study of zeolite and carbon in marijuana cultivation.
The data indicated significantly lower concentrations of bacteria, fungi and yeast found in liquid runoff from plants enriched with zeolite and a zeolite-carbon blend, as compared to control samples. The clinoptilolite zeolite used in the study is from the Z1 Mine near Cache Creek, BC, operated jointly by Ashburton Ventures and ZMM Canada Minerals Corp. ZMM Canada supplied the carbon.
"This is a wonderful data set," said biologist and project manager Albert Krasprowicz. "It illustrates how zeolite allows much cleaner cultivation. As growers, we typically use moist substrates and grow a dense canopy, but this invites bacteria that can lead to outbreaks and decreased production. With zeolite or a zeolite-carbon blend, bacteria levels fall dramatically. We anticipate healthier harvests from plants with a reduced bacterial burden."
"Data from control samples were in a completely different range," Krasprowicz noted. "With zeolite and carbon, we see 85% and 90% less of total staph and coliforms. We'll take a larger set of samples next week and if we can replicate these findings, it'll be a game-changer. Everybody's happy with a cleaner substrate and vigorous, resilient plants."
While trends did emerge from the data, Krasprowicz also noted some anomalies. "Dealing with composted coconut fibre, you would expect some data outliers. It's imperative that we collect more data to confirm the overall trend."
Laboratory analysis was performed by MB Labs in Sidney, BC. MB Labs also performed a detailed chemical analysis. Results are due next week.
ASHBURTON PROVIDES GREEN SOLUTIONS TO NORTHERN ALBERTA OIL FIELDS
Ashburton Ventures Inc. has received a progress report from LuVerne E.W. Hogg of ZMM Canada Minerals Corp., operator of the joint operating committee on the development of the Z-1 clinoptilolite zeolite quarry. The report reviews the research project titled "Salinity Tolerance of Regional Native Plant Species and Soil Amendment Potential for Reclamation." The work is being conducted by the Boreal Research Institute of the Northern Alberta Institute of Technology (NAIT) with industry partners Apache Canada Ltd., ZMM Canada Minerals Corp., Alberta Economic Development and Trade, and Natural Science and Engineering Research Council of Canada (NSERC).
The goal of the program is to develop and test novel approaches to enhance and improve existing technologies to meet the demands of reclaiming naturally saline soil in northern Alberta. Ashburton Ventures Inc. and ZMM are providing Clinoptilolite Zeolite from the Z1 Quarry at Cache Creek, BC. and F-Chabazite Zeolite from the TransCanada Zeolite, east of Kamloops, BC. Both occurrences are under development by Ashburton and ZMM. Additionally, ZMM is providing ZMM T-Carbon. These materials will provide an important and valuable alternative to extensive dig-and-dump activities during remediation of salt-contained spill sites. Positive results on the use of Zeolites and T-Carbons in saline soils will open significant market opportunities for these Zeolite and T-Carbon products with oil and gas companies.
Combining new and existing reclamation practices and technologies established from this project will assist in creating best practices for cross-industry and cross-sector adoption. The work here will reflect positively and enhance Alberta's energy-driven economy. By restoring the services and goods provided by boreal forest ecosystems, industry and SMEs promote responsible management and environmental stewardship for the long-term benefit of all Albertans.
Forest land reclamation is an important business and employment generator in northern Alberta. There is a backlog of over 15,000 well sites requiring reclamation on the crown land of north western Alberta alone. The Alberta Energy regulator currently certifies, on average, only 780 well sites in the boreal region annually worth an estimated reclamation investment of $39 million.
We look forward to reporting on the progress and results of this significant initiative to create new and innovative soil remediation techniques utilizing the unique properties of our Zeolites and ZMM T-Carbon.
"The oil and gas industry is known for the development of new technologies and is now directing these abilities to the reclamation of the Boreal forests. The industry has survived and thrived as an early adopter of new technologies for the creation of additional economic and employment opportunities for all. Ashburton and ZMM are proud to participate in this new, green technology program and we anticipate creating significant demand for our products." states Dave Gdanski, President of Ashburton.
ASHBURTON CLOSES FLOW THROUGH PRIVATE PLACEMENT
Further to the news release of June 5, 2017, Ashburton Ventures Inc. has completed its non-brokered flow-through private placement of 1,315,789 flow-through units at a price of 19 cents per unit for aggregate gross proceeds of $249,999.91. Each FT unit is composed of one flow-through common share and one-half of one non-flow-through share purchase warrant of the company. Each whole warrant will entitle the subscriber to purchase one warrant share for a 12-month period after the closing date at an exercise price of 25 cents per share. Flow-through proceeds raised will be used toward exploration on the company's Buckingham graphite property located in Buckingham township in the province of Quebec.
The company paid a finder's fee of $19,999.99, issued 65,789 finder shares and 65,789 finder warrants. Each finder warrant will entitle the holder to purchase one share for a period of 24 months from the closing date at an exercise price of 25 cents per finder warrant.
Ashburton Ventures is a Canadian-based junior exploration company with mineral projects in Canada and Nevada, United States of America
Ashburton Ventures Inc. has provided an update on a recent site visit at the BC Bud Depot research and development facility on Salt Spring Island, B.C., site of a continuing scientific study of the effects zeolite and carbon on cannabis yields and quality.
Ashburton directors met with facility owners and management to view progress of cannabis trials. The owner of the 1,900-plant facility requested, based on the healthy appearance of plants grown with zeolite, an ongoing supply of clinoptilolite zeolite from Ashburton's Z1 Zeolite Mine near Cache Creek, BC. However this request remains subject to the final results of the study,
Biologist and plantation manager Albert Kasprowicz stated, "It's still early, but the plants amended with 15% zeolite appear to have growth rates significantly surpassing the greenhouse average."
Ashburton's Zeolite from the Z-1 Quarry in Cache Creek is believed to enhance plant health by increasing the bioavailability of nutrients and filtering contaminants from the soil. Plants with increased nutrient uptake and a reduced burden on their immune system focus more energy on growth and productivity.
Ashburton President David Gdanski stated, "The cannabis industry is taking note of zeolite's natural capacity to provide a competitive edge in terms of yields and quality. We're now compiling a client list that includes growers at the forefront of innovation in BC's cannabis industry."
Ashburton Ventures Inc. is a Canadian-based junior exploration company focused on Canadian mineral projects in Quebec and British Columbia, Canada
An article from Canaccord should be of interest to ABR
shareholders!
ABR has a major stake in" The Buckingham Graphite Property consists of 18 CDC claims acquired through an option agreement with Cavan Ventures Inc. (15 CDC claims) and through staking in August 2016 (5 CDC claims). The Property is readily accessible by roads from the village of Buckingham and is 100% situated on private land"
Canaccord explores the impact on cobalt, an increasingly important material in the Li-B material supply chain. Li-B chemicals/feedstocks are the main markets for cobalt (~50% in 2016 vs lithium at ~40%, graphite ~9%), with the metal playing an important role in improving Li-B performance (battery life, energy density, stability). Based on the increasing use of higher performance batteries in EVs and consumer electronics, combined with Zaunscherb’s modeled growth in Li-B production, he estimates cobalt demand could almost double to 203kt by 2025. Thus Zaunscherb expects the supply/demand balance to tip into deficit from 2017 through 2025 supporting increased cobalt prices from the current US$25/lb to US$34/lb by 2025. Some key points to note: 1) Cobalt prices rise - up 120% (LME) in the last 12 months – speculation or fundamentally driven? 2) Increasing demand to be driven by a significant increase in Li-B output to support the growing EV and consumer electronic markets; 3) Battery chemicals already consume half of the world’s cobalt – Zaunscherb estimates this will increase by half again by 2025; 4) Even factoring in the emergence of higher nickel: cobalt ratios in some Li-B’s and the impact of recycling, Zaunscherb forecasts demand to increase by +90% to 203kt by 2025; 5) Supply side has extreme concentration risk with medium-term project pipeline looking thin; 6) Zaunscherb forecast market deficits to persist for the foreseeable future, leading to continued upward trends in pricing."
As stated in a PR of April 19, 2017, ABR has indications of a possible major Graphite holding
“We are extremely pleased with the conclusions set out in the NI43-101 report and the conceptual model for the mineralization which will guide our exploration team for the next steps of the project. Further exploration works on the 1.5 km long conductor should initiate a definition drilling program for resource calculation purposes.”
ASHBURTON HAS SITE VISIT WITH POTENTIAL BUYERS OF ZEOLITE AT Z-1 ZEOLITE MINE NEAR CACHE CREEK, BC
Ashburton Ventures Inc. has provided the following update on a recent site visit held at the Z-1 zeolite mine near Cache Creek, B.C. Company management, representatives of the construction aggregate industry plus a cannabis cultivation expert from BC Bud Depot were present. Z1 mine operations manager and zeolite industry expert LuVerne Hogg, of ZMM Canada Minerals Corp., fielded questions on the equipment and logistics required to fill orders for various zeolite specifications.
"It was a wonderful opportunity to answer key questions for parties interested in utilizing our unique zeolite resource," said Ashburton president David Gdanski. "We showcased the accessibility of our resource to transportation corridors."
Mr. Hogg outlined strategies to allow further processing of zeolite to meet industry-specific needs. Machinery capable of mining and primary and secondary crushing 150 tonnes per hour will operate on site seasonally to meet demand.
BC Bud Depot representative Timothy Harvey stated: "I'm here for the due diligence of BC Bud Depot, which is in the process of being acquired by an LP. Having seen the Z-1 Zeolite Mine I can say for certain that we have an abundant local source of clinoptilolite zeolite that happens to be, the very best kind of zeolite for cannabis and horticulture. We'll ask whichever LP grows our proprietary cannabis strains to use Z1 Zeolite, because it raises quality and that's good for everyone."
Ashburton Ventures Inc. is a Canadian-based junior exploration company focused on Canadian mineral projects in Quebec and British Columbia, Canada.
Interesting results could be very significant
ASHBURTON ZEOLITE SHIPMENT ARRIVES: BC BUD DEPOT TO COMMENCE TESTING ZEOLITE IN MARIJUANA GROWING
"Ashburton Ventures Inc.'s zeolite shipments have arrived at the BC Bud Depot (BCBD) strain development and test facility. Phase One of zeolite testing will commence Thursday, April 27th, 2017. BCBD's Test Facility features 14,920 square feet of greenhouse space capable of housing 1,900 cannabis plants up to 2.5 metres height each.
Approximately 900 cloned cuttings of the cannabis strain CBD God will be transplanted into growth media divided between control groups and those enriched with zeolite and compatible nutrients. The facility's on-site plantation manager, biologist Albert Kasprowicz, M.Sc., will oversee testing.
"We are excited to measure and document the variances between control groups and those augmented by zeolite blends," stated Kasprowicz.
He continued, "The advantages of zeolite to cannabis cultivation have only been observed informally although zeolite has well-known benefits in agriculture. It is high time that we use scientific quantitative analysis to chart the benefits of zeolite to cannabis as an organic method of optimizing the ease and efficiency of cultivation, increasing plant health and vigour, and raising end yields in terms of total weight and marijuana quality."
Testing to commence this week will take ongoing measurements from three categories plus a control group. The three test categories (Zeolite-Enriched, Carbon-Enriched and Zeolite + Carbon-Enriched) each subdivide into three groups according to increments of enrichment to the base potting mixture. The T-Carbon is from Ashburton's collaboration partners ZMM Canada Minerals Corp and is complimentary to zeolite in the root zone
For the Zeolite-Enriched and Carbon-Enriched groups, researchers will distribute plant sets containing 5%, 10% and 15% enrichment throughout the greenhouse. The Zeolite + Carbon group containing a 1:1 blend of carbon and zeolite will be enriched at 10%, 15% and 20% and similarly distributed. The Control Group will contain only the base potting mixture which consists of 90% coconut husk (coco coir) and 10% worm castings.
Zeolite is from the Z-1 Zeolite Mine, a recent collaboration between Ashburton Ventures and ZMM Canada Minerals Corp, located about 3 km northeast of Cache Creek, BC. Key among zeolite's known advantages to plant growth include a high capacity to increase the bio-availability of essential plant nutrients, as well as filtering adverse components from the soil.
According to geoscientist LuVerne Hogg, Ashburton's Z-1 zeolite has a pressure-release curve of water and nutrients that matches the liquid-uptake rate of cannabis roots.
"By releasing nutrients and water at the specific rate required by plants, efficiencies and yields increase, so cultivation is a more cost-effective enterprise" Hogg stated.
Ashburton Ventures Inc. is a Canadian-based junior exploration company focused on Canadian mineral projects in Quebec and British Columbia, Canada. "
ASHBURTON ANNOUNCES AMENDING AGREEMENT ON THOMPSON BROS. LITHIUM PROPERTY; TERMINATES WHABOUCHI AGREEMENT
Ashburton Ventures Inc. has entered into an amending agreement with respect to the previously announced option financing agreement with Manitoba Minerals Pty. Ltd. (MMPL) whereby the company will retain a 20-per-cent interest in the Thompson Bros. lithium property located in Wekusko Lake in Manitoba.
In May 2016, the Company had acquired an option over the Thompson Bros. lithium property and had simultaneously signed an option financing agreement with MMPL, pursuant to which MMPL would finance all payments and obligations relating to the option (see the Company's previous news release dated May 2, 2016). In consideration, the Company had previously granted MMPL with options to acquire up to a 95% interest in the property.
Pursuant to the new amending agreement, MMPL will still finance all cash payments and expenditures with respect to the Thomson Bros. option, but the Company will be responsible for share payments owing to the underlying owner. Under the underlying option agreement, the Company will issue 2.25 million common shares to the underlying owner, in annual installments of 500,000 shares, ending in April 2021. As a result, the options granted to MMPL have been reduced, such that the Company will retain a 20% interest in the property. The amending agreement is subject to the Company receiving prior approval from the TSX Venture Exchange.
The Thomson Bros. lithium property is located 20km east of the mining community of Snow Lake, Manitoba, and consists of 18 contiguous claims covering 1829 hectares. Further information about the property can be found in the Company's May 2, 2016 news release.
The Company further announces it has terminated its agreements to acquire the Whabouchi South, Whabouchi West and the Whabouchi Southern Extension properties.
Ashburton Ventures Inc. is a Canadian-based junior exploration company focused on Canadian mineral projects in Manitoba, Quebec and British Columbia, Canada.
Cutting edge project!
A SPECIAL MOVE BY MANAGEMENT.A proof of value of this new technology would place ABR at the front end. As LEADER WOULD BE A MAJOR PLUS FOR ROLL OUT of finished products. Superior performance at a reduced price!
Wait for it.
"ASHBURTON BACKS NEW BREAKTHROUGH ZEOLITE SOLUTION
Ashburton Ventures Inc. is primed for entry into the creation of vacuum-insulated panels (VIP) for the construction industry. Ashburton, in partnership with ZMM Canada Minerals Corp. in the Z-1 Clinoptilolite Zeolite Quarry, is pleased to participate in this innovative clean energy, clean technology initiative. Under the program, the Ashburton's Z-1 zeolite (see PR dated February 9, 2017) is the principal component in the manufacturing of VIPs. The first shipments of the Z-1 clinoptilolite zeolite have been ordered. A key role of the Z-1 zeolite is to enable lowering the cost of producing VIPs due to its unique, specialty properties.
"This is an exciting time for Ashburton. To have its unique Z-1 zeolite used in the creation of a leading edge clean energy, clean technology initiative in collaboration with the University of Victoria, the Province of B.C. and the Federal Government is truly a big step for our shareholders." stated Company President David Gdanski.
Demand for energy efficient buildings has increased drastically in recent years and this trend will continue in the future. Insulating building elements will play a key role in meeting this demand by reducing heat losses through the building envelope. Due to their high R-value, Vacuum Insulation Panels (VIPs) will be a more energy efficient alternative to conventional building insulation materials. The thermal insulating capacity of VIPs is five to ten times higher than traditional fibrous or foam insulation which is why efforts to develop VIPs with characteristics suitable for applications to new and existing buildings are underway.
The research and development program has begun and is being conducted by the University of Victoria under the supervision of Dr. Phalguni Mukhopadhyaya. Utilizing the natural clinoptilolite zeolite represents a unique opportunity to create new, high performance, thermal insulation that will provide significant benefits to the environment by reducing energy costs by up to 40%.
We gratefully acknowledge the financial support of the Province of British Columbia through the Ministry of Energy and Mine's Innovative Clean Energy (ICE) Fund of $50,000. $50,000 is being contributed by the Natural Sciences and Engineering Research Council of Canada (NSERC) as a Collaborative Research and Development grant and $45,000 is being provided by Ashburton and ZMM to support this exciting new, breakthrough technology.
Ashburton Ventures Inc. is a Canadian-based junior exploration company focused on Canadian mineral projects in Quebec and British Columbia, Canada. If you would like to be added the news release distribution please get in touch with us at info@ashburtonventures.com."
The build out of Zeolite properties continues " ASHBURTON VENTURES INC. (ABR-TSX:V) (ARB-FRANKFURT) (“Ashburton” or the "Company”) announces it has signed an agreement to purchase 100% interest in two mineral properties; the TransCanada Chabazite Zeolite and the Juniper Creek Chabazite Zeolite properties. Both are being acquired from ZMM® Canada Minerals Corp. (“ZZM”), an arm’s length vendor, and are located south and east of Kamloops, BC within Eocene volcanic rocks.
Combined with the Z-1 zeolite quarry/mine, located about three kilometres northeast of Cache Creek, B.C., (see PR January 30, 2017), these two new strategic zeolite properties broaden Ashburton’s assets in the emerging zeolite markets. The strategy is to actively develop all three zeolite properties, one containing the zeolite mineral Clinoptilolite and two containing Chabazite zeolite. The Company has an experienced team in place to advance the projects. Doing so expands our markets exponentially from very high value, in the case of the high purity Chabazite, to lower value, large volume markets.
Chabazite is a unique rare and valuable mineral of the zeolite family. In North America, there is only one other location, in southern Arizona, where Chabazite is produced. The exceptional properties of Chabazite lead to applications in numerous clean technology solutions like reverse adsorption systems, thermal energy harvesting and solar energy storage.
It is envisioned that Chabazite from the Company’s two new properties will be targeted for three specific applications. The first being a high purity crystalline Chabazite, slated for high tech/clean tech applications in the areas of molecular sieves, gas separation and purifying gas streams. The second and third products will be used in horticulture, agriculture, animal health and specialty Supplementary Cementaceous Materials (SEMs). The Chabazite markets complement the Clinoptilolite markets in both processing and products.
Ashburton CEO Mike England comments "We are very fortunate to have come to terms to add these two specialty zeolite properties to our expanding industrial mineral portfolio, with numerous potential applications that will complement our activities at the Z-1 Quarry. The Company’s goal is to become the leader in zeolite innovation and applications.”
Terms of the option agreement call for Ashburton to spend $250,000 on these groups within the first year, issue to ZMM 1,000,000 common shares in the capital of ABR upon TSX approval and a cash payment to ZMM of $10,000.
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.
Ashburton Ventures Inc. is a Canadian-based junior exploration company focused on Canadian mineral projects in Quebec and British Columbia, Canada. If you would like to be added the news release distribution please get in touch with us at info@ashburtonventures.com.
The TSX Venture Exchange has accepted for filing documentation in connection with an option agreement dated Jan. 23, 2017, between Ashburton Ventures Inc. and ZMM Canada Minerals Corp., whereby Ashburton will acquire a 100-per-cent interest in mining interests located near Cache Creek, B.C. Consideration is $20,000 and four million common shares, of which two million shares are payable in the first year and two million shares are payable in the second year. The property is subject to a 2-per-cent net smelter return royalty, of which the company will have the right to purchase 1 per cent for $1-million, subject to further exchange review and acceptance.
A total of $15,000 will be payable as finders' fees as follows:
Ted Pomerleau as to $4,200 in year one and $3,500 in year two;
Robert Weicker as to $4,200 in year one and $3,500 in year two.
The TSX Venture Exchange has accepted for filing documentation in connection with an option agreement dated Jan. 23, 2017, between Ashburton Ventures Inc. and ZMM Canada Minerals Corp., whereby Ashburton will acquire a 100-per-cent interest in mining interests located near Cache Creek, B.C. Consideration is $20,000 and four million common shares, of which two million shares are payable in the first year and two million shares are payable in the second year. The property is subject to a 2-per-cent net smelter return royalty, of which the company will have the right to purchase 1 per cent for $1-million, subject to further exchange review and acceptance.
A total of $15,000 will be payable as finders' fees as follows:
Ted Pomerleau as to $4,200 in year one and $3,500 in year two;
Robert Weicker as to $4,200 in year one and $3,500 in year two.
ASHBURTON CLOSES PRIVATE PLACEMENT
Further to its news releases dated Jan. 30, 2017, Feb. 2, 2017, and Feb. 9, 2017, Ashburton Ventures Inc. has completed its non-brokered private placement of 12 million units at a price of 10 cents per unit for an aggregate gross proceeds of $1.2-million.
Each unit comprises one common share and one share purchase warrant of the company. Each warrant will entitle the holder to purchase one share at a price of 15 cents per warrant share until Feb. 20, 2019. The warrants are subject to an acceleration clause, which states that the issuer will have the right to accelerate the expiry date of the warrants if, at any time, the average closing price of the shares is equal to or greater than 30 cents for 10 consecutive trading days. In the event of acceleration, the expiry date will be accelerated to a date that is 30 days after the issuer issues a new release, announcing that it has elected to exercise this acceleration right.
Finders' fees payable on the placement are $53,600 cash and 536,000 finder's warrants. Finder's warrants are exercisable at 10 cents for a period of 12 months from the closing date.
All securities issued pursuant to the closing of the offering are subject to a hold period expiring on June 21, 2017.
Ashburton Ventures is a Canadian-based junior exploration with mineral projects in Canada and Nevada, United States.uccessful funding. Now to drill!!
THE MARKETS SEEM TO LIKE ABR MOVE
ASHBURTON INREASES FINANCING
Ashburton Ventures Inc., in connection with its previously announced financing (see the press releases dated Jan. 30, 2017, and Feb. 2, 2017), is increasing the size of the financing due to strong demand.
The company has arranged the non-brokered private placement to consist of 12 million units, up from 10 million units, at a price of 10 cents per unit for aggregate gross proceeds of $1.2-million. All other terms and conditions remain in place. This increase is subject to TSX Venture Exchange approval.
Ashburton Ventures is a Canadian-based junior exploration company focused on Canadian mineral projects in Quebec and British Columbia, Canada.
Looks like ABR has acquired an immediate source of revenue to develop their projects!!
(“Ashburton” or the "Company”) announces the signing of a Joint Operating Agreement (“JOA”) with ZMM® Canada Minerals Corp. (“ZMM”) to assist in the development, maintenance and operation of the recently acquired Z-1 Zeolite Quarry/Mine located approximately 3 kms northeast of Cache Creek, BC (see PR dated January 31, 2017).
The JOA brings to Ashburton access to certain Intellectual Property (“IP”) held by ZMM in various stages of development derived over the 25+ years’ experience ZMM has in the zeolite industry. The arrangement also brings substantive industry knowledge, collaborative partners including universities and strong relationships with end customers.
Jointly the companies will continue working toward the development of new IP and expanding on increasingly higher value applications and sales to growing markets for zeolites. The zeolite at Z-1 has been demonstrated to have the particular physiochemical properties suitable for several new and innovative clean technology applications.
Mr. LuVerne Hogg, President and CEO of ZMM Canada Minerals Corp. states "We're excited! At ZMM, we believe in using science and technology to provide the ultimate in designed zeolite solutions and services. We are now part of the right team, at the right time for expansion and growth. The synergies are superb."
Mr. Hogg is an industry recognized expert in zeolites worldwide and has specialized in and researched zeolite minerals, products and their applications for over 25 years, in 16 countries.
Mr. Mike England, CEO of Ashburton said, “this strategic relationship with ZMM will provide us with all the tools necessary to expedite the sale of on-site zeolite stockpiles to generate near term cash flow and to fully commercialize the operation.”
A new project to try and give life to ABR.ASHBURTON ACQUIRES Z-1 ZEOLITE MINE/QUARRY AND ANNOUNCES FINANCING
Ashburton Ventures Inc. has signed an agreement to acquire a 100-per-cent interest in the Z-1 zeolite quarry/mine located about three kilometres northeast of Cache Creek, B.C. from ZMM Canada Minerals Corp., an arm's-length vendor. All mining and environmental permits are in place.
The zeolite industry has experienced continuous growth since its discovery in the western United States in the 1950s. The zeolite industry has sustained growth due to the extraordinary adaptability, flexibility and eco-friendly nature of the mineral, which can be applied in a wide range of industrial, consumer and environmental applications driven by product research and development. Newer market applications include agricultural and horticultural solutions including optimizing growth of organic marijuana, soil remediation, and high-tech clean-tech applications. These burgeoning market opportunities are incremental to the substantial core and growing Zeolite markets.
LuVerne E.W. Hogg will be joining the Company to lead the reactivation of site operations. Mr. Hogg has been a geoscientist since 1965 and President and CEO of ZMM, and has been engaged in mineral exploration, development, production and marketing of industrial minerals. Verne is an industry recognized expert in zeolites worldwide and has specialized in and researched zeolite minerals, products and their applications for over 25 years, in 16 countries.
Ashburton CEO Mike England states "We recognize a rare opportunity to create a dynamic company developing unique zeolite solutions, utilizing advanced technologies. We welcome Mr. Hogg to Ashburton and our proud to have such an illustrious individual in the Zeolite business on our team. Our goal is become the leader in zeolite innovation and applications. The Z-1 deposit has many advantages, including high quality zeolite stockpiled on the surface, an enviable location to market on a main east/west transportation corridor (Trans Canada Highway and CN and CP rail), and an ideal hot, dry climate of desert conditions at Cache Creek. The Z-1 deposit became a non-core asset as a result of three separate corporate takeovers. ZMM was able to purchase the quarry from the previous owner who was disposing themselves of the majority of their Canadian assets in 2014.
Terms of the option agreement call for Ashburton to issue to ZMM 2,000,000 common shares in the capital of ABR upon TSX approval, issue a further 2,000,000 common shares on the 12 month anniversary of the transaction, make cash payments totalling $20,000 and to incur $500,000 in expenditures over a 12 month period.
Ashburton further announces that it has arranged a non-brokered private placement of 10,000,000 units ("Units") at a price of $0.10 per Unit for aggregate gross proceeds of $1,000,000 (the "Offering"). Each Unit will be comprised of one common share ("Share") and one half Share purchase warrant of the Company ("Warrant"). Each full Warrant will entitle the Subscriber to purchase one Warrant Share for a 24 month period after the Closing Date at an exercise price of $0.15 per share.
The technical contents of this release were approved by LuVerne E.W. Hogg, a Qualified Person as defined by National Instrument 43-101. The properties have not been the subject of a National Instrument 43-101 report.
Ashburton Ventures Inc. is a Canadian-based junior exploration company focused on Canadian mineral projects in Quebec and British Columbia, Canada."
Pursuant to a directors' resolution dated Jan. 16, 2017, the company has consolidated its capital on the basis of 10 old shares for one new share. The name of the company has not been changed.
Effective at the open on Jan. 26, 2017, the common shares of Ashburton Ventures Inc. will commence trading on TSX Venture Exchange on a consolidated basis. The company is classified as a mineral exploration/development company.
Postconsolidation capitalization: unlimited shares with no par value, of which 12,379,059 shares are issued and outstanding Escrow: Nil shares are subject to escrow. Transfer agent: Computershare Investor Services Inc. Trading symbol: ABR (unchanged) Cusip No.: 043783307 (new)
Not unexpectedly a reverse split announced
Ashburton Ventures Inc. is proposing a consolidation of its common shares on the basis of up to 10 existing shares for one new share. Currently, a total of 123,790,592 Shares are issued and outstanding. Accordingly, if put into effect on the basis of ten (10) existing Shares for one (1) new Share, a total of 12,379,059 Shares would be issued and outstanding following the Consolidation, assuming no other change in the issued capital.
According to the Company's Articles, the board of directors of the Company has the ability to approve the Consolidation and the board of directors believes it is in the best interest of the Company to approve the Consolidation. The Consolidation will increase the Company's flexibility and competitiveness in the market place and make the Company's securities more attractive to a wider audience of potential investors, thereby resulting in a more efficient market for its Shares.
The Consolidation will affect all shareholders of the Company uniformly and affect all of the Company's stock options and warrants issued and outstanding at the effective date. At the time of the Consolidation, the number, exchange basis or exercise price of all stock options and warrants issued and outstanding will be adjusted to reflect the Consolidation. The actual adjustment will be made by the Company in consultation with its advisors.
The Consolidation is subject to the acceptance of the TSX Venture Exchange.
The Company further announces Company Director David Gdanski has been appointed President of Ashburton. Michael England will stay as Director and CEO of Ashburton.
Ashburton Ventures Inc. is a Canadian-based junior exploration with mineral projects in Quebec, Canada and Nevada, USA"
FINALLY drilling started on Buckingham should produce a
43-101 report to give us a verifiable size of the lithium content.
ASHBURTON COMMENCES PHASE THREE DRILLING AT BUCKINGHAM GRAPHITE PROPERTY, QUEBEC
Ashburton Ventures Inc. has completed the ground-based PhiSpy geophysical survey undertaken by DD Geoscience of Ottawa, Ont., on its Buckingham graphite property located in southwestern Quebec. The survey's result will allow a short and more focused drilling program (phase III) that will help define the geometry of the graphite deposit and ultimately obtain a National Instrument 43-101-compliant resource estimate.
The company also announces that the phase III drilling program has commenced and will expand on previous drilling completed in third quarter 2016.
Furthermore, Ashburton Ventures has sent an 80 kilograms of bulk sample of graphite-rich core material to the SGS Metallurgical Laboratory to characterize the graphite concentrate such as its mineralogical composition, flake sizes, recoverability and particle distribution, and to establish a flotation procedure.
President and chief executive officer Michael England stated, "This program will provide additional data which will be incorporated into an up-to-date 43-101 being written by Inlandsis Consultants of Montreal, Que."
The Buckingham graphite property consists of 18 claims in ranges VIII and IX, Buckingham township, Quebec, which cover an area of 1,082 hectares. Exploration on the southern part of the claim group has yielded assay results as high as 21.6 per cent Cg (graphitic carbon) over 14.5 metres from channel samples and purity results up to 96.1 per cent Ct (total carbon) from large-flake fractions (see Cavan press releases dated July 17, 2014, and May 28, 2015). A first-phase drill program returned assays of 112 m of 4.07 per cent Cg (see press release dated Feb. 11, 2016), as well as 16 m of 11.09 per cent Cg and 88 m of 3.29 per cent Cg (see press release datedJune 23, 2016).
The technical content of this news release was approved by Dr. Michel Boily, PGeo, director of Ashburton and a qualified person as defined by National Instrument 43-101.
FINALLY drilling started on Buckingham should produce a
43-101 report to give us a verifiable size of the lithium content.
ASHBURTON COMMENCES PHASE THREE DRILLING AT BUCKINGHAM GRAPHITE PROPERTY, QUEBEC
Ashburton Ventures Inc. has completed the ground-based PhiSpy geophysical survey undertaken by DD Geoscience of Ottawa, Ont., on its Buckingham graphite property located in southwestern Quebec. The survey's result will allow a short and more focused drilling program (phase III) that will help define the geometry of the graphite deposit and ultimately obtain a National Instrument 43-101-compliant resource estimate.
The company also announces that the phase III drilling program has commenced and will expand on previous drilling completed in third quarter 2016.
Furthermore, Ashburton Ventures has sent an 80 kilograms of bulk sample of graphite-rich core material to the SGS Metallurgical Laboratory to characterize the graphite concentrate such as its mineralogical composition, flake sizes, recoverability and particle distribution, and to establish a flotation procedure.
President and chief executive officer Michael England stated, "This program will provide additional data which will be incorporated into an up-to-date 43-101 being written by Inlandsis Consultants of Montreal, Que."
The Buckingham graphite property consists of 18 claims in ranges VIII and IX, Buckingham township, Quebec, which cover an area of 1,082 hectares. Exploration on the southern part of the claim group has yielded assay results as high as 21.6 per cent Cg (graphitic carbon) over 14.5 metres from channel samples and purity results up to 96.1 per cent Ct (total carbon) from large-flake fractions (see Cavan press releases dated July 17, 2014, and May 28, 2015). A first-phase drill program returned assays of 112 m of 4.07 per cent Cg (see press release dated Feb. 11, 2016), as well as 16 m of 11.09 per cent Cg and 88 m of 3.29 per cent Cg (see press release datedJune 23, 2016).
The technical content of this news release was approved by Dr. Michel Boily, PGeo, director of Ashburton and a qualified person as defined by National Instrument 43-101.
ASHBURTON VENTURES INC. INCREASES BUCKINGHAM STAKE
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"
Good results from drilling program. Hopefully assays will show real values
"ASHBURTON VENTURES INC.: PROGRESS REPORT
ON THE CURRENT DRILLING PROGRAM AT BUCKINGHAM GRAPHITE PROPERTY, QUEBEC
Ashburton Ventures Inc. has completed six diamond drill holes (1,200 metres) on its Buckingham graphite property located in southwestern Quebec. The first five holes tested the northeastern extension of the 1.1 km long, geophysical conductor of which the southwest portion was investigated during the drilling program implemented in December 2015. An additional hole targeted a parallel, 300 m-long conductor, located 300 m to the west of the main conductor. Graphite bearing formations were intersected in each hole.
Graphite was generally found in in impure marble-rich layers intercalated among garnet- and biotite- quartzofeldspathic gneisses. Encouraged by the success of the ongoing second phase drill program, two additional holes are in the process of being drilled, bringing the total number of holes to eight with a cumulative of 1,600 m of core. The drilling program will be completed by September 16th, 2016. Up until now, 711 samples were sent to SGS Lab of Lakefield, Ontario, and results are pending.
President and chief executive officer Michael England stated: "Buckingham continues to consistently deliver hole after hole, we look forward to announcing results as the drilling program continues."
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 Company further announces it has received assay results from the recent exploration program at its Whabouchi property. The results from the limited exploration program contained one anomalous lithium value and management will now assess future plans for the project.
The technical content of this news release was approved by Dr. Michel Boily, geo., director of Ashburton and a qualified person as defined by National Instrument 43-101. The Buckingham property will be submitted to a NI43-101 Technical Report to be completed within the coming months
Another project which is close to ABR holdings
ALITHIUM X TO COMMENCE DRILLING AT CLAYTON VALLEY NORTH, NEVADA
Lithium X Energy Corp. has mobilized a drill rig to commence the phase 1 exploration program at its Clayton Valley North lithium project in Nevada. Clayton Valley is home to Albemarle's Silver Peak mine, the only lithium production facility in North America. Lithium X controls the largest land position in Clayton Valley, located approximately 200 miles from Tesla's Gigafactory. The first drill hole is approximately 100 metres north of the claim boundary where Albemarle's northernmost production-sized well is located.
Highlights:
Four exploration holes planned from two drill sites in Phase 1 Lithium X is targeting five known lithium-bearing aquifers and a lower gravel aquifer the Company believes has strong potential Results could enable an initial Resource Estimate for the Project
"I am thrilled to commence exploration drilling in Clayton Valley, where the vision for Lithium X was born less than a year ago," said Brian Paes-Braga, founder and Chief Executive Officer of Lithium X. "Testing the exploration potential in Nevada complements the ongoing development work at our flagship Sal de los Angeles deposit in Argentina."
Lithium X is permitted to drill four new exploration holes at two Clayton Valley drill sites, initially. The targets include the five known lithium-bearing aquifers under Clayton Valley and a lower basal gravel aquifer in the deepest area of the Valley basin. The Company believes this lower basal gravel aquifer has strong potential for positive lithium concentrations and production rates.
The Company expects to drill these holes to a depth that will intersect the gravel aquifer in the lower part of the basin, which is expected to be approximately 350 metres. Each drill site is expected to consist of two closely spaced holes (one diamond core hole and another rotary) to maximize data collection. This system helps the Company capture accurate lithological and brine samples, as well as allowing more thorough pump tests to be completed on relevant horizons. The current spacing between these drill sites is approximately 800 metres.
Following initial results, Lithium X may add a third drill site. Subject to positive results, the three drill sites could enable a maiden Resource Estimate for the Project.
"The opening of Tesla's Gigafactory here speaks to Nevada's amazing contribution to global industry, which coincidentally began with our rich history in mining," commented Mike Montandon, former mayor of North Las Vegas and an Advisor to Lithium X. "I am excited to be involved with an innovative company like Lithium X which aims to provide a responsible lithium supply for the clean energy revolution."
With over $18 million in cash on hand, Lithium X is fully funded for Phase 1 exploration in Nevada and all current planned development activities in Argentina.
The technical information contained in this news release has been reviewed and approved by William Randall, P.Geo, who is a Qualified Person as defined under NI 43-101. As Vice-President Project Development of the Company, Mr. Randall is not considered independent.
Nemaska Lithium results are of great significance for ABR
as ABR's holdings boarders Nemaska's property.
Nemaska Lithium Inc. has provided an update on the previously announced definition drilling campaign for its Whabouchi lithium project (44 drill holes over 13,700 metres). The drilling is progressing at a faster than expected rate, and to date Nemaska Lithium has drilled 22 holes totalling 5,935 metres. The drill hole are oriented towards N300 degrees with a dip ranging from 45 degrees to 65 degrees. The drilling thus far has confirmed the continuity of the dykes down to 200 metres from surface in the eastern part of the deposit and spodumene bearing pegmatite dykes were observed in all holes. Drilling is now expected to be completed by the end of August with initial drill results out by September 2016.
The main objectives of this program are to convert the existing pit constrained inferred resource into measured and indicated, to add near surface resources in the east zone of the pit design as well as confirming continuity of further resources at depth below the 200 m level.
"This drilling confirms that there are additional dykes on the Whabouchi deposit, which is already classified as one of the best pegmatite lithium deposits in the world," said Guy Bourassa, President and CEO of Nemaska Lithium. "I look forward to reporting the drill results in the next couple of months, which will unveil its impact on the projected Whabouchi life of mine."
ASHBURTON COMMENCES PROGRAM AT WHABOUCHI SOUTH CLAIMS BORDERING NEMASKA LITHIUM'S WHABOUCHI DEPOSIT
Ashburton Ventures Inc. has commenced phase two of the exploration program on its Whabouchi South lithium project directly adjacent and on strike with the Nemaska Lithium Whabouchi deposit. The program will consist of geochemical sampling as well as detailed mapping to follow up on the first phase geophysical program (see PR dated May 26, 2016).
"We are excited to commence the phase 2 of our work program on our claims adjoining Nemaska Lithium's Whabouchi deposit." stated David Gdanski, director of Ashburton Ventures. "Locating targets will be a priority to establish a near term drill program."
Phase 2 will entail mapping and sampling of the property, with a emphasis on the NW corner of the claims which appears to be on strike with the Nemaska Lithium Deposit and is most likely to reveal Li-rich pegmatites.
The Whabouchi South property adjacent to Nemaska Lithium Inc.'s Whabouchi project is also on geological strike with Nemaska's Whabouchi mine, the viability of which was supported in Nemaska Lithium's feasibility report released on April 4, 2016. Ashburton property is less than 1.2 kilometre south of Nemaska's planned mine site, shown to hold the world's second-largest and second-richest deposit of spodumene -- the source of lithium -- in the world, with 27 million tonnes of proven and probable resources, with an estimated mine lifespan of 26 years (see Nemaska press release dated April 4, 2016).
The Whabouchi South property bordering Nemaska Lithium Inc.'s Whabouchi project is also on geological strike with Nemaska's Whabouchi mine, the viability of which was supported in Nemaska Lithium's feasibility report released April 4, 2016. The property is less than 1.2 kilometres south of Nemaska's planned mine site, shown to hold the world's second-largest and second-richest deposit of spodumene -- the source of lithium -- in the world, with 27 million tonnes of proven and probable resources, with an estimated mine lifespan of 26 years (see Nemaska press release dated April 4, 2016)
Just a reminder of how important is ABR's holdings in Quebec
It is a stretch but NMX NR today gives some idea of the magnitude of their project. Should ABR be successful in developing their holdings, there will be a treatment facility immediately available.or perhaps we could see a buy out of ABR's holding. We are not there yet but hope springs eternally.
"Ashburton Ventures Inc. has successfully completed an initial ground magnetic and very-low-frequency survey at its Whabouchi South property, adjacent to Nemaska Lithium Inc.'s Whabouchi project and less than 1.2 kilometres south of Nemaska's planned mine site, holding the world's second-largest and richest deposit of spodumene, the source of lithium."
"Nemaska Lithium Inc. is providing additional details concerning its proposed marketed offering. The corporation will offer a minimum of 43.48 million units for aggregate gross proceeds of $50,002,000 and a maximum of 52,174,000 units for aggregate gross proceeds of $60,000,100 (the "Offering"), at a price of $1.15 per Unit (the "Offering Price"). Each Unit will consist of one common share in the share capital of the Corporation (a "Common Share") and one-half of one Common Share purchase warrant of the Corporation (each whole Common Share purchase warrant, a "Warrant"). Each Warrant will entitle its holder to purchase one Common Share (a "Warrant Share") at a price of $1.50 per Warrant Share
The Corporation intends to use the net proceeds of the Offering for engineering fees in relation to the Whabouchi Mine and concentrator and the Shawinigan hydromet plant, down-payments for long lead items, drilling and for general working capital purposes
More positive results
Mr. Michael England reports
ASHBURTON INTERSECTS 88.0 METERS AVERAGING 3.29% CG AT BUCKINGHAM PROPERTY, QUEBEC
Ashburton Ventures Inc. has released new assay results from holes BH15-02, BH15-04 and BH15-05 of its continuing drilling program on the company's Buckingham graphite project located in Southern Quebec.
President and chief executive officer Michael England states: "We are encouraged by the new assay results demonstrating the NE extension of the graphitic mineralization at depth and for at least 300 m along strike a 1,500 m TDEM geophysical anomaly at Buckingham. The property constitutes an important part of ABR's strategic acquisition of lithium and graphite assets, since graphite also enters the fabrication of lithium-ion batteries. ABR expects to further pursue its drilling campaign during the summer months".
Drilling and Assay Results: BH15-02, 03 and 05
Hole BH15-02 was targeting the extension at depth of a graphite mineralized trench yielding an average value of 18.16 wt. % Cg. The trench lies on a 1,500 m-long, NE-trending TDEM (Time Domain ElectroMagnetic) geophysical anomaly. The drill core revealed silicified and sulphide-bearing quartz-biotite paragneiss with rare marble and occasional pegmatite intrusions.
Hole BH15-04, reaching a depth of 200 m, intersected 16 m of disseminated, millimeter-scale flakes of graphite mineralization, hosted primarily within marble units. The hole was collared on the same site as hole BH15-03 (310degree/-50degree), plunged at -70degree and is situated approximately 110 m southwest of BH15-01 along strike the TDEM geophysical anomaly. Hole BH15-05 was collared farther to the NE approximately 280 m from the position of hole BH15-04.
BH15-05 intersected disseminated graphite mineralization for nearly 129 m within alternating sequences of marble and quartz-biotite paragneiss accompanied by sporadic quartz veins and pegmatite dykes. Structural measurements from the drill core and the trenches situated directly above the drill holes location suggest the foliation and therefore the mineralized layers, strikes generally NE with a sub-vertical dip. The DDH coordinates and assay results are presented in Table 1 below. The assay results from the last three drill holes corroborate those obtained from two previous holes (DDH15-01and 03) which yielded Cg values of: 36 m @ 2.51 wt.% and 29 m @ 8.36 wt. % (DDH15-01) and 24 m @ 3.05 wt. % and 112 m @ 4.07 wt. % (BH15-03) (ABR Press Releases of January 26 and February 11, 2016).
Table 1. Best graphite assay results and coordinates for DDH BH15-02, 04 and 05 DDH no. Easting* NorthingAzimuth (degree)Plunge (degree)Depth (m)From (m)To (m)Interval (m)&Cg (wt. %) DDH15-02 460575 5054700 200 113.0 116.1 3.1 3.36 162.0 174.0 12.0 2.07 187.7 200.0 12.3 2.86 DDH15-04 460503 5054494 310 70 200 51.0 67.0 16.0 11.09 DDH15-05 460618 5054751 200 68.0 81.0 13.0 2.43 109.0 197.0 88.0 3.29 Incl. 129.0 162.0 33.0 4.94 * NAD83 UTM Zone 18N & Apparent thickness
Samples were treated at SGS Lakefield, Ontario, using method number GE/GO/GC_CS and code A05V. Graphitic carbon was determined by multistage furnace treatment and infrared detection on LECO instrumentation. Duplicates, standards and blanks were inserted at regular intervals for QA/QC purposes.
The technical content of this news release was approved by Dr. Michel Boily, P.Geo., director of Ashburton and a qualified person as defined by National Instrument 43-101. The Buckingham property will be submitted to a NI43-101 Technical Report to be completed within the coming months.
ASHBURTON COMPLETES INITIAL MAG AND VLF SURVEY AT WHABOUCHI SOUTH PROJECT ADJOINING NEMASKA LITHIUM'S WHABOUCHI PROJECT IN QUEBEC
Ashburton Ventures Inc. has successfully completed an initial ground magnetic and very-low-frequency survey at its Whabouchi South property, adjacent to Nemaska Lithium Inc.'s Whabouchi project and less than 1.2 kilometres south of Nemaska's planned mine site, holding the world's second-largest and richest deposit of spodumene, the source of lithium. The deposit contains 27 million tonnes of proven and probable resources, with an estimated mine life span of 26 years (see Nemaska press release dated April 4, 2016). Ashburton's survey was carried out in early May, 2016, and targeted the northwestern area of the company's 1,176-hectare (11.8-square-kilometre) property. Ashburton's holdings, adjoining both the southern and western boundaries of Nemaska Lithium's property, total 1,496 hectares (15 square kilometres).
The magnetic survey highlighted a slight magnetic high that extends in a northeasterly direction across the surveyed area. The magnetic high is 500 metres in length along strike, displays a width up to 150 metres (L40N/400E to L35N/0E) and appears to be open in both directions. This zone is on strike with the proposed Nemaska Lithium's open pit (Whabouchi deposit) located approximately one kilometre to the northeast. The moderate-to-low magnetic contrast probably reflects metavolcanic (high) and metasedimentary (low) lithologies. Although the rock exposure is scarce within the surveyed area, three granitic rock samples were collected along the magnetic high determined between L39N and L40N. Samples will be submitted for lithium and other rare metal analysis. The remainder of the property will be subjected to a combined magnetometer and very-low-frequency surveys followed by a prospecting and sampling program.
The technical contents of this release were approved by Dr. Michel Boily, PhD, 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
ASHBURTON ANNOUNCES INCREASE OF FLOW THROUGH FINANCING
Further to its news releases dated May 3, 2016, and May 31, 2016, Ashburton Ventures Inc. has increased its non-brokered flow-through private placement of 12 million units at a price of five cents per unit for gross proceeds of $600,000 to 16.15 million units at a price of five cents per unit for gross proceeds of $807,500.
Each unit consists of one flow through common share (the "Shares") and one non-flow through Share purchase warrant of the Company. Each warrant will entitle the holder to acquire one Share of the Company at a price of $0.075 per Share for a period of 12 months from the date of issuance.
The Shares and warrants issued pursuant to the private placement and any Shares issued on exercise of the warrants are subject to four-month resale restriction.
The Company may, in its sole discretion, pay a finders' fee to agents of the Company consisting of: (i) a cash fee in an amount of up to 8% of the proceeds raised by such finder as part of this Offering, (ii) a number of common shares of the Issuer that is equal up to 5% of the number of Flow Through Units placed through the finder as part of this Offering and (iii) a number of finder's warrants entitling the holder thereof to purchase that number of Shares of the Company ("Finder's Warrant") that is equal to up to 5% of the number of units placed through the finder as part of this Offering. Each Finder's Warrant will entitle the holder to purchase one Share for a period of 12 months from the closing date at an exercise price of $0.075 per Finder's Warrant.
The Company has received conditional approval for the private placement from the TSX Venture Exchange.
Flow through proceeds raised will be used towards exploration on the Company's Whabouchi South property bordering Nemaska Lithium Inc.'s Whabouchi project in the James Bay area in the Province of Quebec as well as further exploration on the Company's Buckingham graphite property located in Buckingham Township also in the Province of Quebec.
This article gives us a taste of what we may be involved with in the lithium boom. Now all we have to do is find the ore on our properties.!
"Everyone has heard about Tesla’s $5 Billion Gigafactory and its potential to double lithium-ion battery production capacity. However, it turns out that this merely a cog in the wheel of a bigger trend. Data from Simon Moores of Benchmark Mineral Intelligence shows that there are several other large-scale facilities coming online in the next five years that will potentially bring that number substantially higher.
Today’s production capacity is approximately 35 GWh worldwide. However, once Tesla’s Gigafactory and the other facilities being built by LG Chem, Foxconn, BYD, and Boston Power are complete, we will have a total capacity in 2020 of around 122 GWh. This exponential ramping up of production capabilities proves that companies are serious about scale and reducing costs.
For investors and speculators in the lithium, graphite, and cobalt sectors, there is no doubt that this could be a big boon. While these megafactories will have more negotiating power in their contracts for industrial metal sourcing, they will not be able to create this supply out of thin air.
Positive news from ABR. Remember the only PROOF of the value of a property is from assays! This is encouraging news but keep your fingers crossed.
News out :
Ashburton survey finds magnetic high at Whabouchi South
2016-05-26 08:17 ET - News Release
Mr. Michael England reports
ASHBURTON COMPLETES INITIAL MAG AND VLF SURVEY AT WHABOUCHI SOUTH PROJECT ADJOINING NEMASKA LITHIUM'S WHABOUCHI PROJECT IN QUEBEC
Ashburton Ventures Inc. has finished a successful initial ground magnetic and VLF survey at its Whabouchi South property adjacent to Nemaska Lithium Inc.'s Whabouchi project and less than 1.2 kilometres south of Nemaska's planned mine site, holding the world's second-largest and richest deposit of spodumene, the source of lithium. The deposit contains 27,000,000 tonnes of proven and probable resources, with an estimated mine life span of 26 years (see Nemaska PR dated April 4, 2016). Ashburton's survey was carried out in early May 2016 and targeted the northwestern area of the Company's 1176 hectares (11.8 km2) property. Ashburton's total holdings, adjoining both the southern and western boundaries of Nemaska Lithium's property, is 1496 hectares (15.0 km2).
The magnetic survey highlighted a slight magnetic high that extends in a northeasterly direction across the surveyed area. The magnetic high is 500 m in length along strike, displays a width up to 150m (L40N/400E to L35N/0E) and appears to be open in both directions. This zone is on strike with the proposed Nemaska Lithium's open pit (Whabouchi deposit) located approximately 1 km to the northeast. The moderate to low magnetic contrast probably reflects metavolcanic (high) and metasedimentary (low) lithologies. Although the rock exposure is scarce within the surveyed area, three granitic rock samples were collected along the magnetic high determined between L39N and L40N. Samples will be submitted for Li and other rare metal analysis. The remainder of the property will be subjected to a combined Magnetometer and VLF surveys followed by a prospecting and sampling program.
The technical contents of this release were approved by Michel Boily, PhD, 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.
We seek Safe Harbor.
© 2016 Canjex Publishing Ltd. All rights reserved.
More property obtained in Nevada
"Ashburton Ventures Inc. (ABR-TSX:V) (ARB-FRANKFURT) (“Ashburton” or the "Company”) is pleased to announce it has signed an agreement to acquire the Whabouchi West property and the Whabouchi South Extension block from an arm’s length vendor.
The Whabouchi West property borders the western side of Nemaska Lithium Inc.’s (NMX-TSX:V) Whabouchi project. The property comprises one block of six mineral licenses (“claims”) located on geological strike with Nemaska Lithium’s proposed Whabouchi mine, the viability of which was supported by a NMX’s feasibility report released on April 4, 2016. The property is located less than 3 km west of Nemaska’s planned mine site, shown to contain the world’s second largest and richest deposit of spodumene - the source of lithium - in the world, with 27,000,000 t of proven and probable resources and an estimated mine life of 26 years (see Nemaska PR dated April 4, 2016).
The South Whabouchi Extension block is defined by eleven claims contiguous to the southern limit of Ashburton’s Whabouchi South property (see Ashburton PR dated April 18, 2016). The acquisition of the South Whabouchi Extension property block will double the size of the Whabouchi South property to 1176 hectares (11.8 km2). With the acquisition of 17 new claims, Ashburton has increased its total holdings surrounding Nemaska Lithium’s property project to 1496 hectares (15.0 km2) from the original 588 hectares (5.9 km2).
“We are excited to have come to terms with the vendors on this additional key ground that borders both the western and southern sides of Nemaska’s Whabouchi property” stated Michael England, CEO of Ashburton Ventures. “Since we made our first acquisition one month ago, the activity in the region has accelerated, with many other companies announcing project acquisitions and exploration work.”
Cumulative terms of the option agreement call for Ashburton to issue to the Vendors 2,500,000 common shares in the capital of ABR and a cash payment of $5,000 plus grant a 2.0% Royalty on Net Smelter Returns. Ashburton may, in its sole discretion but without obligation, purchase 1% of the Royalty for cancellation in consideration of $1,000,000. This transaction is subject to TSX Venture approval.
The technical contents of this release were approved by Michel Boily, PhD, 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.
[The Ashburton claims in Whabouchi are close to NMX. Good news
Nemaska Lithium and Johnson Matthey Battery Materials Sign Definitive Agreement for the $12M UpFront Payment for the Phase 1 Plant and Signs Commercial Offtake Agreement for Lithium Salts
Quebec, May 11, 2016. Nemaska Lithium Inc. and its wholly owned subsidiaries (“Nemaska Lithium” or the “Corporation”) (TSX-V: NMX) (OTC: NMKEF) and Johnson Matthey Battery Materials Ltd (JMBM) of Candiac, Quebec, a wholly owned subsidiary of Johnson Matthey Plc (LSE: JMAT) (www.matthey.com) announced today the signing of the final agreements contemplated in the collaboration, financial support and lithium salt supply MOU previously announced in the press release dated November 19, 2015. A first agreement (the deposit agreement) contemplates an up-front payment of CDN$12M by JMBM in exchange for services and products of the same value from the Nemaska Lithium Phase 1 Plant. At completion, the total amount of $12M will be deposited in an escrow account and will be disbursed to Nemaska Lithium according to certain milestones.
A second agreement provides for a long term supply relationship for lithium salts between Nemaska Lithium and JMBM. This is Nemaska Lithium’s first commercial offtake agreement.
The closing of the JMBM agreement completes the financing of the Phase 1 Plant. The total budget to build and operate the Phase 1 Plant for two years is $38M, of which $12M comes from JMBM up-front payment, $13M from a grant from Sustainable Development Technologies Canada (SDTC), $3M grant from Technoclimat program through the Bureau de l’efficacit et de l’innovation nergtiques of the Ministre de l’nergie et des Ressources naturelles and finally a $10M equity investment by Ressources Qubec Inc. To date, progress payments have been received from SDTC and Technoclimat for a total of $2.85M. With today’s closing Nemaska Lithium will receive a further installment of $2.1M from SDTC.
Commenting, Neil Collins, Managing Director of Johnson Matthey’s global Battery Materials business said: “We are delighted to have signed these agreements today with Nemaska Lithium; securing the long term supply of lithium salts is an important part of our strategy as we continue to grow our Battery Materials business.”
“We are very pleased to be moving forward with our Phase 1 Plant and to having negotiated our first commercial offtake agreement with JMBM,” commented Guy Bourassa, President and CEO of Nemaska Lithium. “To date, we have made significant progress on the detailed engineering of the Phase 1 Plant and have ordered some of the long-lead items, including the core electrolysis stacks and rectifiers. We expect to complete construction of the Phase 1 plant by the end of 2016 and to be engaging potential clients with commercial samples of lithium hydroxide as early as Q2 2017. This strategy of engaging customers with commercial samples from the Phase 1 Plant is intended to save us time and money as we expect to shorten the time it typically takes to qualify lithium products with customers. We are currently in discussions with other potential customers and we will update shareholders on future commercial offtake agreements as they are negotiated and signed.
[bAmazing new way of paying for a NEW acquisition
Creative accounting moves in a form of joint venture that limits the dilution of the ABR shares.
Hopefully the new property proves to be a significant lithium play!!
"ASHBURTON VENTURES INC. (ABR-TSX:V) (ARB-FRANKFURT) (“Ashburton” or the "Company”) is pleased to announce that it has signed a Definitive Agreement with Strider Resources Ltd (“Strider”) to acquire an Option over the Thompson Bros. Lithium Property in Wekusko Lake, Manitoba (the “Property”), and simultaneously signed a Binding Heads of Agreement with Manitoba Minerals Pty Ltd (“MMPL”) to finance all payments and obligations relating to the Option over the Property.
About the Thompson Bros. Lithium Property
The Thompson Bros. Lithium Property is located in Wekusko Lake, 20km east of the mining community of Snow Lake, Manitoba. The main highway to Thompson and Flin Flon, plus the railway to the Winnipeg and the seaport of Churchill passes 40 km south of the property.
The property consists of 18 contiguous claims covering 1829 hectares. Manitoba is one of the top rated mining jurisdictions in the world and electricity costs are amongst the lowest in North America.
The lithium deposit is a spodumene rich pegmatite dike with a near vertical dip and a strike length of over 800 meters. The dike was originally drilled in 1956 by Combined Developments Limited, with three additional holes drilled by Carta Resources Limited in 1997; for a total of 30 drill holes. A resource calculation made by B. Ainsworth, P. Eng. in 1998, resulted in an "undiluted drill indicated mineral resource" of 3,968,000 tonnes with a weighted average value grade of 1.29% LiO2 to the 130 meter level, and an average width of 10 meters. A further 337,000 tonnes is indicated by the deepest hole (D.H. Car-97-2), to the 380 m level, which is over 200 meters from the nearest hole, and which cut a horizontal width of 8 m of 1.3% LiO2. Thus, Ainsworth suggests a total drill indicated and possible total resource calculation of 4,305,000 tonnes of 1.3% LiO2 for the deposit (NON 43-101 Compliant), open to depth and along strike. The 1998 resource calculation is historical and not National Instrument 43-101 compliant as it was completed prior to the implementation of these requirements, and thus cannot be relied upon.
A metallurgical evaluation of the spodumene deposit by Dr. W. Dressler of Laurentian University indicated that simple floatation would recover 92% of the spodumene and produce a concentrate grading 6.6% LiO2 or 89.2% spodumene. Carta Resources completed a business plan to develop the Thompson Bros. Lithium Deposit for the production of lithium carbonate, but a decline in lithium carbonate prices stalled the project in 1998.
Definitive Agreement to Acquire Option over the Thompson Bros. Lithium Property - Terms
Terms of the Option, as set forth in the Definitive Agreement with ABR and Strider over the Property are as follows:
A cash payment of $25,000 within seven (7) days of the signing of the Definitive Agreement, and
(i) Share Based Payment to Strider of 500,000 ABR Shares within seven (7) days following the signing of the Definitive Agreement and;
(ii) Cash Payment of $50,000 and Share Based Payment to Strider of 500,000 ABR Shares on or before the 12 month anniversary of the Effective Date of the Definitive Agreement, and;
(iii) Cash Payment of $100,000 and Share Based Payment to Strider of 500,000 ABR Shares on or before the 24 month anniversary of the Effective Date of the Definitive Agreement,, and;
(iv) Cash Payment of $100,000 and Share Based Payment to Strider of 500,000 ABR Shares on or before the 36 month anniversary of the Effective Date of the Definitive Agreement, and;
(v) Cash Payment of $100,000 and Share Based Payment to Strider of 500,000 ABR Shares on or before the 48 month anniversary of the Effective Date of the Definitive Agreement, and;
(vi) Cash Payment of $125,000 and Share Based Payment to Strider of 500,000 ABR Shares on or before the 60 month anniversary of the Effective Date of the Definitive Agreement, and;
As well as making the cash and share based payments to Strider listed above, ABR agrees to incur the following Expenditures on the Property by the following dates:
(vii) ABR agrees to spend a total of no less than one and a half million dollars ($1,500,000) of Expenditures relating to the Property on or before the 60 month anniversary of the Effective Date in the Definitive Agreement.
Furthermore, following its exercise of the First Option and up to the date of Commencement of Commercial Production, ABR has the right to buy back fifty per cent of the overriding 2% NSR from Strider on the property by making cash payment of $1,000,000.
Binding Heads of Agreement to Finance Option Obligations over the Thompson Bros. Lithium Property - Terms
ABR has simultaneously entered into a Binding Heads of Agreement with Manitoba Minerals Pty Ltd (“MMPL”), a private resource finance entity associated with corporate finance group RM Capital, to finance all ABRs obligations relating to exercising the Option. The total of this financing package is in excess of $2,000,000 over the 5 year Option period. The finance agreement with MMPL allows ABR to be exposed to the upside of the Option over the Project without creating excessive dilution to its shareholders to finance the Option exercise.
In return for financing the Option, once exercised, MMPL will have the right to back-in to an 80% ownership of the Property from ABR after satisfying the terms as follows:
1. Funding ABR’s obligations relating to the Option as set forth in the Definitive Agreement, between ABR and Strider, specifically:
(a) Paying all cash payments due in relation to the Option, up to $500,000 over 60 months; and
(b) Funding the work program for a minimum of $1,500,000 of expenditure, over 60 months;
(c) Funding payments in relation to the purchase of the NSR of $1,000,000.
2. Cash Reimbursement of $150,000 from MMPL to ABR, for ABR’s share based payments made to Strider relating to the Option.
3. MMPL will manage all activities relating to the work program for the Option on behalf of ABR.
4. ABR will retain a free carried interest over their 20% holding in the Project, up to completion of a Pre-Feasibility Study (the “PFS”). Following Exercise of the Option by ABR and upon completion of a PFS, the Parties will enter into a joint venture agreement (the “Joint Venture Agreement”), with contribution reflective of each party’s ownership interest.
5. MMPL will also have the right to acquire a further fifteen per cent holding (15%) in the Project from ABR for cash consideration of $1,000,000, at any time following Exercise of the Option and up to the entering of the Joint Venture Agreement.
6. Should MMPL fail to make any of the payments due by it to ABR under the Option Financing Agreement, ABR will immediately notify MMPL of the breach. MMPL has 15 days from the date of notification to rectify the breach or ABR will have the right, at its discretion, to continue sole funding the Option payments. Upon this election MMPL has no further rights under the Option Financing Agreement.
Ashburton Ventures Inc. (“Ashburton” or “ABR”) further announces it has entered into a Private Placement Agreement (“the Private Placement”) with Manitoba Minerals Pty Ltd (“MMPL”) as compensation to ABR for the share based payments to Strider Resources Ltd (“Strider”).
MMPL has agreed to subscribe for 3,000,000 Ashburton common shares at an issue price of $0.05 per share, for total funds to ABR of $150,000 under the Private Placement.
These shares will be used to satisfy the share based payment component as set forth in the Definitive Agreement between ABR and Strider for the Option over the Thompson Bros. Lithium Property in Snow Lake, Manitoba.
The Definitive Agreement, Private Placement and Binding Heads of Agreement are subject to, among other things, Exchange approval, and, with respect to the Binding Heads of Agreement, the execution of a formal agreement.
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.
[bAmazing new way of paying for a NEW acquisition
Creative accounting moves in a form of joint venture that limits the dilution of the ABR shares.
Hopefully the new property proves to be a significant lithium play!!
"ASHBURTON VENTURES INC. (ABR-TSX:V) (ARB-FRANKFURT) (“Ashburton” or the "Company”) is pleased to announce that it has signed a Definitive Agreement with Strider Resources Ltd (“Strider”) to acquire an Option over the Thompson Bros. Lithium Property in Wekusko Lake, Manitoba (the “Property”), and simultaneously signed a Binding Heads of Agreement with Manitoba Minerals Pty Ltd (“MMPL”) to finance all payments and obligations relating to the Option over the Property.
About the Thompson Bros. Lithium Property
The Thompson Bros. Lithium Property is located in Wekusko Lake, 20km east of the mining community of Snow Lake, Manitoba. The main highway to Thompson and Flin Flon, plus the railway to the Winnipeg and the seaport of Churchill passes 40 km south of the property.
The property consists of 18 contiguous claims covering 1829 hectares. Manitoba is one of the top rated mining jurisdictions in the world and electricity costs are amongst the lowest in North America.
The lithium deposit is a spodumene rich pegmatite dike with a near vertical dip and a strike length of over 800 meters. The dike was originally drilled in 1956 by Combined Developments Limited, with three additional holes drilled by Carta Resources Limited in 1997; for a total of 30 drill holes. A resource calculation made by B. Ainsworth, P. Eng. in 1998, resulted in an "undiluted drill indicated mineral resource" of 3,968,000 tonnes with a weighted average value grade of 1.29% LiO2 to the 130 meter level, and an average width of 10 meters. A further 337,000 tonnes is indicated by the deepest hole (D.H. Car-97-2), to the 380 m level, which is over 200 meters from the nearest hole, and which cut a horizontal width of 8 m of 1.3% LiO2. Thus, Ainsworth suggests a total drill indicated and possible total resource calculation of 4,305,000 tonnes of 1.3% LiO2 for the deposit (NON 43-101 Compliant), open to depth and along strike. The 1998 resource calculation is historical and not National Instrument 43-101 compliant as it was completed prior to the implementation of these requirements, and thus cannot be relied upon.
A metallurgical evaluation of the spodumene deposit by Dr. W. Dressler of Laurentian University indicated that simple floatation would recover 92% of the spodumene and produce a concentrate grading 6.6% LiO2 or 89.2% spodumene. Carta Resources completed a business plan to develop the Thompson Bros. Lithium Deposit for the production of lithium carbonate, but a decline in lithium carbonate prices stalled the project in 1998.
Definitive Agreement to Acquire Option over the Thompson Bros. Lithium Property - Terms
Terms of the Option, as set forth in the Definitive Agreement with ABR and Strider over the Property are as follows:
A cash payment of $25,000 within seven (7) days of the signing of the Definitive Agreement, and
(i) Share Based Payment to Strider of 500,000 ABR Shares within seven (7) days following the signing of the Definitive Agreement and;
(ii) Cash Payment of $50,000 and Share Based Payment to Strider of 500,000 ABR Shares on or before the 12 month anniversary of the Effective Date of the Definitive Agreement, and;
(iii) Cash Payment of $100,000 and Share Based Payment to Strider of 500,000 ABR Shares on or before the 24 month anniversary of the Effective Date of the Definitive Agreement,, and;
(iv) Cash Payment of $100,000 and Share Based Payment to Strider of 500,000 ABR Shares on or before the 36 month anniversary of the Effective Date of the Definitive Agreement, and;
(v) Cash Payment of $100,000 and Share Based Payment to Strider of 500,000 ABR Shares on or before the 48 month anniversary of the Effective Date of the Definitive Agreement, and;
(vi) Cash Payment of $125,000 and Share Based Payment to Strider of 500,000 ABR Shares on or before the 60 month anniversary of the Effective Date of the Definitive Agreement, and;
As well as making the cash and share based payments to Strider listed above, ABR agrees to incur the following Expenditures on the Property by the following dates:
(vii) ABR agrees to spend a total of no less than one and a half million dollars ($1,500,000) of Expenditures relating to the Property on or before the 60 month anniversary of the Effective Date in the Definitive Agreement.
Furthermore, following its exercise of the First Option and up to the date of Commencement of Commercial Production, ABR has the right to buy back fifty per cent of the overriding 2% NSR from Strider on the property by making cash payment of $1,000,000.
Binding Heads of Agreement to Finance Option Obligations over the Thompson Bros. Lithium Property - Terms
ABR has simultaneously entered into a Binding Heads of Agreement with Manitoba Minerals Pty Ltd (“MMPL”), a private resource finance entity associated with corporate finance group RM Capital, to finance all ABRs obligations relating to exercising the Option. The total of this financing package is in excess of $2,000,000 over the 5 year Option period. The finance agreement with MMPL allows ABR to be exposed to the upside of the Option over the Project without creating excessive dilution to its shareholders to finance the Option exercise.
In return for financing the Option, once exercised, MMPL will have the right to back-in to an 80% ownership of the Property from ABR after satisfying the terms as follows:
1. Funding ABR’s obligations relating to the Option as set forth in the Definitive Agreement, between ABR and Strider, specifically:
(a) Paying all cash payments due in relation to the Option, up to $500,000 over 60 months; and
(b) Funding the work program for a minimum of $1,500,000 of expenditure, over 60 months;
(c) Funding payments in relation to the purchase of the NSR of $1,000,000.
2. Cash Reimbursement of $150,000 from MMPL to ABR, for ABR’s share based payments made to Strider relating to the Option.
3. MMPL will manage all activities relating to the work program for the Option on behalf of ABR.
4. ABR will retain a free carried interest over their 20% holding in the Project, up to completion of a Pre-Feasibility Study (the “PFS”). Following Exercise of the Option by ABR and upon completion of a PFS, the Parties will enter into a joint venture agreement (the “Joint Venture Agreement”), with contribution reflective of each party’s ownership interest.
5. MMPL will also have the right to acquire a further fifteen per cent holding (15%) in the Project from ABR for cash consideration of $1,000,000, at any time following Exercise of the Option and up to the entering of the Joint Venture Agreement.
6. Should MMPL fail to make any of the payments due by it to ABR under the Option Financing Agreement, ABR will immediately notify MMPL of the breach. MMPL has 15 days from the date of notification to rectify the breach or ABR will have the right, at its discretion, to continue sole funding the Option payments. Upon this election MMPL has no further rights under the Option Financing Agreement.
Ashburton Ventures Inc. (“Ashburton” or “ABR”) further announces it has entered into a Private Placement Agreement (“the Private Placement”) with Manitoba Minerals Pty Ltd (“MMPL”) as compensation to ABR for the share based payments to Strider Resources Ltd (“Strider”).
MMPL has agreed to subscribe for 3,000,000 Ashburton common shares at an issue price of $0.05 per share, for total funds to ABR of $150,000 under the Private Placement.
These shares will be used to satisfy the share based payment component as set forth in the Definitive Agreement between ABR and Strider for the Option over the Thompson Bros. Lithium Property in Snow Lake, Manitoba.
The Definitive Agreement, Private Placement and Binding Heads of Agreement are subject to, among other things, Exchange approval, and, with respect to the Binding Heads of Agreement, the execution of a formal agreement.
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.
ASHBURTON POSITIONS ITSELF ON STRIKE WITH NEMASKA’S WHABOUCHI LITHIUM DEPOSIT
April 18th, 2016, VANCOUVER, B.C. – ASHBURTON VENTURES INC. (ABR-TSX:V) (ARB-FRANKFURT) (“Ashburton” or the "Company”) is pleased to announce it has signed an agreement to acquire the Whabouchi South property bordering Nemaska Lithium Inc.’s (NMX-TSX:V) Whabouchi project. The property is comprised of one block of eleven mineral licenses (“claims”) located to the south of Nemaska Lithium. The property is also on geological strike with Nemaska’s Whabouchi mine, the viability of which was supported in NMX’s feasibility report released April 4, 2016. The property is less than 1.2 km south of Nemaska’s planned mine site, shown to hold the world’s second largest and richest deposit of spodumene - the source of lithium - in the world, with 27,000,000 tonnes of proven and probable resources, with an estimated mine life span of 26 years (see Nemaska PR dated April 4, 2016).
“We are excited to have come to terms with the vendors on this key ground staked in September 2015, especially given the intense staking now taking place in the vicinity of Nemaska’s Whabouchi deposit.” stated Michael England, CEO of Ashburton Ventures. “There is very little bedrock exposure in the area, and we are along the mine’s geological structure, so the prospects of a lithium discovery on our new property, using modern exploration techniques, are excellent. We look forward to getting boots on the ground as soon as possible. We are now close to the beginning of the field season, so the timing of this acquisition is perfect.”
Cumulative terms of the option agreement call for Ashburton to issue to the Vendors 8,500,000 common shares in the capital of ABR over a four year period, make cumulative cash payments totaling $325,000 over 4 years plus grant a 2.0% Royalty on Net Smelter Returns. Ashburton may, in its sole discretion but without obligation, purchase 1% of the Royalty for cancellation in consideration of $1,000,000. This transaction is subject to TSX Venture approval.
Maps will soon be posted on the company’s website.
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.
ASHBURTON POSITIONS ITSELF ON STRIKE WITH NEMASKA’S WHABOUCHI LITHIUM DEPOSIT
April 18th, 2016, VANCOUVER, B.C. – ASHBURTON VENTURES INC. (ABR-TSX:V) (ARB-FRANKFURT) (“Ashburton” or the "Company”) is pleased to announce it has signed an agreement to acquire the Whabouchi South property bordering Nemaska Lithium Inc.’s (NMX-TSX:V) Whabouchi project. The property is comprised of one block of eleven mineral licenses (“claims”) located to the south of Nemaska Lithium. The property is also on geological strike with Nemaska’s Whabouchi mine, the viability of which was supported in NMX’s feasibility report released April 4, 2016. The property is less than 1.2 km south of Nemaska’s planned mine site, shown to hold the world’s second largest and richest deposit of spodumene - the source of lithium - in the world, with 27,000,000 tonnes of proven and probable resources, with an estimated mine life span of 26 years (see Nemaska PR dated April 4, 2016).
“We are excited to have come to terms with the vendors on this key ground staked in September 2015, especially given the intense staking now taking place in the vicinity of Nemaska’s Whabouchi deposit.” stated Michael England, CEO of Ashburton Ventures. “There is very little bedrock exposure in the area, and we are along the mine’s geological structure, so the prospects of a lithium discovery on our new property, using modern exploration techniques, are excellent. We look forward to getting boots on the ground as soon as possible. We are now close to the beginning of the field season, so the timing of this acquisition is perfect.”
Cumulative terms of the option agreement call for Ashburton to issue to the Vendors 8,500,000 common shares in the capital of ABR over a four year period, make cumulative cash payments totaling $325,000 over 4 years plus grant a 2.0% Royalty on Net Smelter Returns. Ashburton may, in its sole discretion but without obligation, purchase 1% of the Royalty for cancellation in consideration of $1,000,000. This transaction is subject to TSX Venture approval.
Maps will soon be posted on the company’s website.
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.
First Quarter financials out today
Of some interest is
Subsequent to January 31, 2016, the Company: i) acquired the Area 51 Lithium Brine prospect, located in Nye County, Nevada, from an arm’s length vendor. Terms of the deal call for the issuance of two hundred thousand shares of the Company and a cash payment of $US 20,000 payable on the first anniversary of the Acquisition. In addition the Company will grant the vendor a 0.5% NSR on mineral production from the Property, 0.25% of which can be purchased back for $500,000 USD at any time prior to the commencement of commercial production. ii) entered into an agreement to issue shares to settle outstanding debt of $87,680 with an arm’s length creditor by issuing 1,753,600 common shares. ii) acquired additional claims in the Clayton Valley, Nevada. The Company issued 3,500,000 million shares for the additional claims.
What's good for LIX is great for ABR
James Kwantes, in the March 13, 2016, edition of Resource Opportunities, refreshes his buy of Lithium X Energy Corp., recently $1.11. Mr. Kwantes said buy on Dec. 30, 2015, at 43.5 cents. A $1,000 investment then is now worth $2,550. Lithium X's stock has enjoyed an excellent few months as the company stirred up enthusiasm about its exploration-stage assets in Nevada, its newly optioned development-stage project in Argentina (called Sal de los Angeles) and its just-announced $7.65-million private placement of shares at $1.02. The financing proves to Mr. Kwantes that the "powerful team" at Lithium X -- particularly chief executive officer Brian Paes-Braga, executive chairman Paul Matysek and major backer Frank Giustra -- has been able to wield the shares as currency to pick up high-quality projects. He includes the new Argentine project in that category. Sal de los Angeles already has a historical (non-compliant) resource estimate and a historical preliminary economic assessment that showed favourable economics at lithium carbonate prices well below today's levels. Mr. Kwantes looks forward to seeing CEO Paes-Braga make progress on his stated goal of making Lithium X "the go-to pure play in the global lithium space."
R
ASHBURTON APPLIES FOR DRILL PERMITS ON CLAYTON VALLEY ELON LITHIUM CLAIMS
Ashburton Ventures Inc. has commenced the drill permitting process for its 100-per-cent-owned Elon lithium claims located in Clayton Valley, Nevada.
"With Pure Energy [Minerals Ltd.] drilling directly beside our border, we are excited to prepare Ashburton to commence testing our claims," stated Michael England, chief executive officer of Ashburton Ventures.
Ashburton Ventures has recently increased its landholdings in Clayton Valley, Nevada. These new claims are contiguous to the existing Elon lithium claims already held by Ashburton. Additionally, these claims border both Pure Energy Minerals and Lithium-X Corp., making the entire Elon lithium project now enclosed between the two companies
ASHBURTON INCREASES LAND HOLDING CONTIGUOUS TO EXISTING CLAIMS SURROUNDED BY PURE ENERGY MINERALS LTD AND LITHIUM X CORP. IN NEVADA
Ashburton Ventures Inc. has increased its landholdings in Clayton Valley, Nevada. These new claims are contiguous to the existing Elon claims already held by Ashburton. Additionally, these claims border both Pure Energy Minerals Ltd. and Lithium-X Corp. making the entire Elon project now enclosed between the two companies.
"We are very pleased to be able to acquire additional acreage in Clayton Valley. Our project is now completely enclosed by Lithium-X and Pure Energy putting ABR in the forefront of all the junior companies in Clayton Valley in our minds. We are looking forward to continuing work on our property based on the successful assays recently attained from the sampling (see news dated Feb. 22, 2016). Ashburton is the closest company to the current Pure drill program being approximately only 800 metres from the successful Pure CV-6 hole therefore providing ABR with tremendous leverage to additional successful drilling by Pure," stated Michael England, chief executive officer of Ashburton Ventures.
Purchase price of the six new claims from a non-arm's-length vendor for a 100-per-cent interest is 3.5 million shares to be issued upon TSX Venture Exchange approval.
Impressive assay results
"ASHBURTON REPORTS BEST DRILL ASSAYS FROM BUCKINGHAM TO DATE -- 139 METRES OF GRAPHITE MINERALIZATION INCLUDING 112 METRES GRADING 4.07% FROM BH15-03
Ashburton Ventures Inc. has released new assay results from BH15-03, the best hole to date of its continuing drilling program on the company's Buckingham graphite project located in Southern Quebec. Additional results are still pending.
President and CEO Michael England states: "We are excited to observe mineralization appearing to extend at least 110 metres along strike following this broad, 1,500 metre geophysical anomaly at Buckingham. Our southernmost hole, BH15-03 encountered an impressive amount of mineralization, with about 140 metres of potential strike length extending to the southern boundary of our property yet to be tested. Furthermore, mineralization appears to correlate extremely well with the primary targeted geophysical anomaly. For reference, other graphite companies, such as Northern Graphite (NGC:TSXV), have average Cg grades of 1.89% (indicated reserves(1)) and Zenyatta Ventures Ltd. (ZEN:TSXV) average Cg grade is 3.89% (indicated resource(2)) respectively."
Drilling and Assay Results: BH15-03
Hole BH15-03 encountered 139.0 metres of disseminated graphite mineralization, hosted primarily within marble units, and reached a total depth of 224 metres terminating in mineralization. The hole was collared approximately 110 metres southwest of BH15-01, along strike of a broad, 1,500-metre long, northeast-trending geophysical anomaly. Hole information and assay results are summarized in Tables 1 & 2 and the Drilling Summary section below.
Table 2. Summary of Significant Assay Data Hole ID From (m)To (m)Interval Length (m)Graphitic Carbon (Cg) % BH15-03 30.0 54.0 24.0 3.05 including46.0 52.0 6.0 6.63 BH15-03 95.0 98.0 3.0 5.41 BH15-03 112.0 224.0 112.0 4.07 including166.0 173.0 7.0 11.2 including198.0 203.0 5.0 8.45
Geological Summary: BH15-03
Lithologies encountered in BH15-03 consist of generally graphite-bearing, coarse-textured marble units intercalated with lesser quartzofeldspathic paragneiss. Minor pegmatite intrusions were encountered.
Similar to previous holes, graphite mineralization within BH15-03 is hosted dominantly by coarse, pebbly-textured marble units and occurs as disseminated, millimetre-scale flakes.
Structural measurements from BH15-03 were similar to those from BH15-01. Data provided by the drill core and from trenches situated directly above the drill hole suggest that the foliation (and therefore, the mineralized layers) strikes generally northeast and presents a roughly sub-vertical dip. This correlates closely with the anomalous northeast-oriented geophysical trend (~035degree) identified by the TDEM (time-domain electromagnetic) survey conducted on the property.
These drill intervals represent apparent thicknesses. True widths will be determined after analysis of drill data is completed.
Cross sections and maps will be available on the Ashburton website. See link below for details: http://www.ashburtonventures.com/?page=project&id=1003
Samples were treated at SGS Lakefield, Ontario, using method number GE/GO/GC_CS and code A05V. Graphitic carbon was determined by multistage furnace treatment and infrared detection on LECO instrumentation. Duplicates, standards and blanks were inserted at regular intervals for QA/QC purposes.
The technical content of this news release was approved by Mr. Case Lewis, P.Geo., director of Ashburton and a qualified person as defined by National Instrument 43-101."
Here are ASSAY results
ASHBURTON REPORTS FIRST ROUND OF ASSAY RESULTS FROM BUCKINGHAM: 76.1 METRES OF GRAPHITE MINERALIZATION INCLUDING 8.0 METRES OF 17.7% CG FROM BH15-01
Ashburton Ventures Inc. is releasing assay results from the first hole, BH15-01, from its recent drilling program at its Buckingham graphite project in Southern Quebec.
Hole BH15-01, which targeted a broad, 1,500-metre-long, northeast-trending geophysical anomaly, encountered a total of 76.1 metres of disseminated graphite mineralization, hosted primarily within marble units, and reached a total depth of 209 metres. Hole information and assay results are summarized in the table and the drilling summary section below.
SUMMARY OF SIGNIFICANT ASSAY DATA Hole ID From (m) To (m) Interval length (m) Graphitic carbon (Cg) % BH15-01 3.7 15.0 11.3 1.81 BH15-01 70.0 106.0 36.0 2.51 including 73.0 85.7 12.7 4.16 BH15-01 175.0 203.8 28.8 8.36 including 185.0 193.0 8.0 17.7
President and chief executive officer Michael England stated: "We are pleased to see that the mineralized intervals our team identified in early December from visual inspection of core match up extremely well with our current assay results. We hope that subsequent results from the remaining four holes of the program (including BH15-03, which was reported to contain 148 metres of mineralization (1)) correlate equally as well. Based on this hole and purity tests yielding values as high as 96.1 per cent Ct (total carbon) in large-flake fractions (2), we are witnessing an exciting story beginning to unfold."
Drilling summary: BH15-01
Lithologies encountered in BH15-01 consist dominantly of intercalated quartzofeldspathic paragneiss and generally graphite-bearing coarse-textured marble units. Minor pegmatite intrusions were encountered, notably in the lowermost five metres of the hole.
Graphite mineralization within BH15-01 is hosted dominantly within coarse, pebbly textured marble units and occurs as disseminated, millimetre-scale flakes. The hole also encountered a small amount of vein-hosted graphite within a narrow pegmatite interval at the bottom of the hole, indicating the presence of vein graphite in the area. Note that in December, 2015, a 30-metre wide outcrop with lump-vein graphite hosted in fractures assaying up to 68.0 per cent Cg was discovered approximately 300 metres north of the drilling area (see ABR release dated Dec. 22, 2015).
Based on structural measurements taken from the drill core and from trenches directly above the drill hole, it is inferred that the foliation (and therefore, the mineralized layers) displays a general northeast strike and a roughly subvertical dip. This correlates very closely with the anomalous trend identified by the time-domain-electromagnetic survey conducted on the property, which trends roughly northeast (approximately 035 degree).
The structural picture of the mineralized zone will be expanded upon further as the company analyzes the logging data in conjunction with assay results from the remaining four holes. The company will release updates on this development in coming releases.
Cross-sections and maps will be available on the Ashburton website.
Samples were treated at SGS Lakefield, Ont., using method number GE/GO/GC_CS and code A05V. Graphitic carbon was determined by multistage furnace treatment and infrared detection on LECO instrumentation. Duplicates, standards and blanks were inserted at regular intervals for quality assurance/quality control purposes. The technical contents of this release were approved by Case Lewis, PGeo, director of Ashburton and a qualified person as defined by National Instrument 43-101.
(1) See Ashburton Ventures release dated Dec. 14, 2015.
(2) See Cavan Ventures Inc. release dated May 28, 2015.
About the Buckingham graphite project
The Buckingham graphite project consists of 28 claims located in Ranges VIII and IX, Buckingham township, Quebec, and covers an area of 1,683 hectares. The property is located 1.7 kilometres north of the historic, producing Walker graphite mine. Helicopter-borne magnetic and time-domain-electromagnetic surveys located a historic conductor and further resolved a parallel 300-metre-long conductor (see Cavan release dated Sept. 24, 2013). Historic airborne electromagnetic surveys have also identified additional conductors over a large portion of the Buckingham graphite project.
Purity tests on the property have yielded values as high as 96.1 per cent Ct from large-flake fractions from simple flotation without the need for further upgrading (see Cavan Ventures release dated May 28, 2015
Someone must have heard you!
ABR announces it has completed an initial examination of the Elon Lithium Property in Clayton Valley, Nevada. A geological crew conducted surface sediment sampling, collecting a series of samples from ten 3 m deep holes distributed across the property. The crew noted that a drill rig is completing a hole approximately 800 m east of the southeast corner of the property on adjoining ground held by Pure Energy Ltd. Samples will be sent to ALS Minerals in Reno, Nevada, results will be announced once received.
“Completing the first work program on Elon as our neighbor’s drill so close to our boundary indicates to us we are in the right neighborhood and we eagerly look forward to our initial results.” stated Michael England, CEO of Ashburton Ventures.
Assay results from the recently completed drill program on the Buckingham graphite project in Quebec are expected to arrive in the near term and will be press released once interpreted.
Roger Hulstein, B.Sc., P.Geo., a member of the Association of Professional Engineers and Geoscientists of British Columbia, is a Qualified Person as defined by National Instrument 43-101, and is responsible for the accuracy of the technical information in this press release.
Ashburton Ventures Inc. is a Canadian-based junior exploration with active mineral programs in Canada and Nevada, USA.
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