Ashley Assays Acerson Workings with over 1.2% Uranium at Sahara Property Utah
Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6
+1 587 777 9072| ashleygoldcorp.com
FOR IMMEDIATE RELEASE
CALGARY, ALBERTA
July 18, 2024
Ashley Assays Acerson Workings with over 1.2% Uranium at Sahara Property Utah
Ashley Gold Corp. (CSE: “ASHL”) (“Ashley” or the “ Company”) is pleased to announce a successful surface sampling
program at the Acerson outcrop 6 km south of Ashley’s underground Sahara mine. Sampling shows mineable uranium grades
ranging from 0.04% to 1.22% across the 450m outcrop highlighting the broader potential of the Sahara property now over
50km2 .
HIGHLIGHTS
Surface grab samples grade up to 1.2% eU3O8 at the Acerson outcrop
Average of samples 0.377% eU3O8
2009 drilling intersected Acerson channel 2.5km downdip with historic grades of 0.28% eU3O8* providing potential
for meeting or exceeding current size of the Sahara mine deposit
Acerson workings include several underground adits and an open pit, both are unsampled to date
Multiple additional channel systems identified on the Sahara property
*Historical Assay from drilling report not confirmed
Darcy Christian, CEO of Ashley comments “ The positive assay results at the Acerson outcrop highlights the
prospectivity of the larger Sahara Property. At ~450m wide and trending north 2.5km to a major collapse feature
Acerson appears to be of similar size as the Sahara mine with room to extend both deposits with additional drilling.
With additional known mineralization at Big Body and Cecilliate I believe we are looking at a multi-million pound
uranium potential within the known mineralization trends with significant upside potential to the east and north.
Figure 1– Major Channel Trends and Location of Grab Sampling
- 2 -
Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6
+1 587 777 9072 | ashleygoldcorp.com
Figure 2 – Looking Northeast along Acerson Channel highlighting assay results
ACERSON CHANNEL SYSTEM
Seven grab samples weighing 4-5 lbs each were taken across the Acerson channel system located in the southwest corner of
Ashley’s Sahara property. The Acerson channel system is approximately 450m wide and continues to the northeast as it dips
into the subsurface. Several other these channel systems extend across the Sahara Property in a parallel fashion to the Acerson
including Rainbow Wedge, Big Body, and Sahara. In Figure 2 the historic Acerson pit can be seen to the northeast of the
outcrops which was mined in the 1950’s. Future sampling will focus on sealed adits and historic open pit.
Drilling completed in 2009 by past operator, Titan intersected a channel system that appears to be the Acerson channel over
2.5km to the northeast along trend. As a potential size comparison, the Sahara mine deposit 6km to the northwest currently has
a drilled footprint of approximately 1km by 400m giving the Acerson trend the potential to meet or exceed the tonnage of the
Sahara mine. Current internal geomodelling at Sahara estimates 2,000,000 lb of uranium at an average grade of 0.25%. Average
of the current grab samples at Acerson is 0.377% eU 3O8. Samples are summarized in Table 1 below:
Sample ID Sample
Number
Uranium (%) Vanadium (%)
T6318 1 0.41% 0.01
T6319 2 0.04% 0.39
T6320 3 0.04% 0.09
T6321 4 0.42% 0.01
T6322 5 0.03% 0.13
T6323 6 0.48% 0.22
T6324 7 1.22% 0.04
Table 1 – Acerson Uranium and Vanadium Assay Results
- 3 -
Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6
+1 587 777 9072 | ashleygoldcorp.com
Figure 3 – Location of Sampling with Geological Context at Acerson
Figure 4 – Location of Sample 7 assaying 1.22% eU3O8
- 4 -
Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6
+1 587 777 9072 | ashleygoldcorp.com
ASSAY METHODOLOGY
Seven samples were assayed for Uranium and Vanadium at Wyoming Analytical Laboratories Inc located in Laramie,
Wyoming. Sampling methodology was an acid digestion method 3051 with a 6020 ICP-MS finish to determine Uranium and
Vanadium concentrations.
QUALIFIED PERSON
The technical and scientific information in this news release has been reviewed and approved by Darcy Christian,
P.Geo., President of Ashley, who is a Qualified Person as defined by NI 43-101.
ABOUT ASHLEY GOLD CORP.
Ashley Gold is focused on creating substantive, long-term value for its shareholders through the discovery and development of
world class gold deposits. Ashley has acquired, 100% of the Tabor Lake Lease subject to a 1.5% royalty, 100% of the Santa
Maria Project subject to a 1.75% royalty, 100% interest in the Howie Lake Project subject to a 0.5% royalty, 100% interest in
the Alto-Gardnar Project subject to a 0.5% royalty, 100% interest in the Burnthut Property subject to a 1.5% NSR, and an
option to earn 100% of the Sakoose claims subject to a 1.5% NSR. In addition, Ashley has entered into an option agreement to
earn 100% of the Sahara Uranium-Vanadium property in Emery County, Utah subject to a 2% NSR.
Ashley Gold Corp. is an early-stage natural resource company engaged primarily in the acquisition, exploration and
development of mineral projects. The Corporation’s objective is to conduct efficient and economical exploration on its growing
portfolio of high-quality gold projects as well as moving the Sahara Uranium-Vanadium project towards near-term production.
The responsibility of this release lies with Mr. Darcy Christian, President and CEO • +1 (587) 777-9072 •
[email protected] , may be contacted for further information. www.ashleygoldcorp.com
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility
for the adequacy or accuracy of this release.
DISCLAIMER & FORWARD-LOOKING STATEMENTS
This news release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking
statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks
and uncertainties. Although these statements are based on currently available information, Ashley Gold Corp. provides no
assurance that actual results will meet management’s expectations. Factors which cause results to differ materially are set out
in the Company’s documents filed on SEDAR. Undue reliance should not be placed on “forward looking statements”.