Ashley GOLD Kicks Off Induced Polarization Survey and Defines Burnthut Drill Locations
Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6
+1 587 777 9072| ashleygoldcorp.com
FOR IMMEDIATE RELEASE
CALGARY, ALBERTA
June 12, 2024
Ashley Gold Kicks off Induced Polarization Survey and Defines Burnthut Drill
Locations
Ashley Gold Corp. (CSE: “ASHL”) (“Ashley” or the “Company”) is currently acquiring the Gradient Induced
Polarization survey at Howie to determine potential drill targets. In addition, Ashley has preliminary drill locations
defined for the Maiden Burnthut drill program.
Darcy Christian, CEO of Ashley comments “The acquisition of IP over Howie will be a fantastic tool to understand
the deeper mineralization at Howie. We are optimistic that this survey will lead to an intelligent drill-program this
year. Burnthut continues to shine and we are ready to test this with a maiden drill program this summer. With
over 175m of mineralized potential we are optimistic this program will open-up a new discovery for Ashley.”
Highlights
Induced Polarization Survey Commenced
Final deliverables estimated for early July
Burnthut maiden drill locations defined for summer drill program
Figure 1. Location of Howie gradient IP Survey Lines
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Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6
+1 587 777 9072 | ashleygoldcorp.com
About the Howie Gradient Induced Polarization Survey
Abitibi Geophysics has begun the survey with installation of the AB current line and have completed over two line
kilometers of the survey. Progress is on estimate and initial data quality is very good. Acquisition should conclude
within the next week.
The acquisition of data from this gradient IP survey will be extremely beneficial in our drill targeting strategy. There
have been no previous ground geophysical surveys of any kind carried out on the Howie Property. The gradient IP
survey will aid in the delineation of mineralized bodies to a depth of 300 m from surface.
The company believes the felsic intrusive dykes that have intruded gabbroic rocks on the Howie Lake property
played a crucial role in the emplacement of gold enriched mineralized fluids. To date the highest-grade gold values
on the Howie Property are found in highly mineralized silicified gabbroic rocks in contact with these felsic intrusive
dykes that stem from the Thundercloud unit next door. (Dynasty Gold -Pelham Deposit).
Figure 2. Burnthut Drill Program
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Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6
+1 587 777 9072 | ashleygoldcorp.com
About the Burnthut Drill Program
Last week the resident geologist from Kenora Ontario Geological Survey (OGS) was onsite to sample the newly
discovered Oro Grande West as well as various other showings on the property. Multi-element assays and thin
section analysis will be performed by the OGS to better understand the mineralization and timing. Numerous gold
bearing deformation zones up to 30 m in width occur in close proximity to one another over a 175 m wide
corridor. Individually a number of these prominent shear zones host numerous newly discovered high grade stacked
veins. As none of these parallel zones have ever ben drilled, the company is optimistic on defining a new discovery
in the area. Three holes are planned in a fan configuration to test the continuity and grade of the system at depth.
Holes will be drilled at 45-degree dip and will be between 150-200m in length.
The Burnthut Property is situated in the Central Volcanic Belt and along strike of the Goldlund and Miller gold
deposits currently being explored by Treasury Metals.
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
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”.