1200 meter by 450 meter I.P. anomaly identified at Asher's King mine, Nevada USA

Rock samples assayed above 6 g/t Gold with two rock samples assaying 55.7 g/t Gold and 28.56 g/t Gold over 1.83 Meters

TORONTO, Sept. 11, 2012 /CNW/ - Asher Resources Corp. ("Asher" or the "Company") (TSX-V: ACN) is pleased to announce it has identified a large induced polarization chargeability anomaly measuring 1200 meters by 450 meters at its 100% optioned King Mine exploration project which encompasses 3,700 acres located on the Walker Lane Trend in Nevada USA. At King Mine, notable recent and historic rock samples assayed above 6 g/t gold with one rock sample assaying 55.7 g/t gold and a historic chip sample assayed 28.56 g/t gold over 1.83 meters. See rock sampling table below.

Asher's summer work program, including geological mapping and magnetic survey is designed to establish drill targets with drilling expected to commence in early 2013.

"The summer work program provides sufficient data to enable us to define initial drill targets at Asher's 100% optioned King Mine. We expect to have a drill rig on site and running in early 2013" commented Richard Buzbuzian, President and CEO. "The King Mine IP anomaly having never been drilled, represents an excellent opportunity given its large size above historic mine workings in addition to the coincident and significant gold values".

To view the map of the Chargeability Anomaly with corresponding gold rock samples visit www.asher-resources.com - click on the PROJECTS button and under King Mine see map titled "Chargeability Anomaly With Gold Rock Sample Assays."

Samples from the 2013 summer wok program at King mine were as high as 55.7 g/t Au including eight samples above 1.0 g/t Au, three samples above 6 g/t/ Au and one sample at 55.7 g/t Au at a 0.20 g/t Au cut-off.  Prior chip sampling (2003) from the mineralized zone assayed up to 28.56 g/t Au over 1.82 meters. All of the samples are located within the 1200 meter by 450 meter chargeability anomaly.

Grab Rock Sampling - Asher 2012
                 
Grab Sample No.   Au g/t Ag g/t As ppm Bi ppm Cu ppm Sb ppm Mo ppm
                 
KD12043   0.24 2.82 17 0.56 157 1.8 3.61
KD12044   3.77 10.05 245 70.3 5490 2.4 4.88
KD12047   1.18 3.37 70 1.15 275 1.7 5.52
KD12048   9.42 8.34 444 244 2250 3.5 20.7
KD12049   1.57 0.59 124 5.73 526 1 13.7
KD12050   2.13 1.89 175 15.9 692 2.1 12.4
KD12051   55.7 96.4 936 260 1350 4.9 12.5
KD12052   6.64 6.88 366 34 152 1.1 16.2
KD12056   1.91 2.52 705 7.03 53 3.9 15
KD12059   0.23 0.46 19 0.93 46 1.1 1
Samples above 0.20 g/t Au curoff
ALS Minerals:   aqua regia ICPMS, Au 50 g FA ICP-AES 

Grab Rock Sampling - Historic 2003
                 
Grab Sample No.   Au g/t Ag g/t As ppm Bi ppm Cu ppm Sb ppm Mo ppm
                 
KNG-2   6.03 21.6 76 18 67 2 5
KNG-3   0.45 6 78 2 47 2 1
KNG-4   10.27 3.4 52 2 58 2 1
KNG-5   0.38 2.6 20 2 167 2 5
KNG-7   28.56 13.4 230 90 1330 2 17
KNG-11   1.16 1.8 486 20 109 2 15
KNG-15   2.15 0.2 302 4 150 2 12
KNG-15D   5.84 6.19 6 2 18 5 29
KNG-16   0.3 0.2 16 6 7 2 9
KNG-17   2.23 0.8 200 6 1125 2 29
KNG-18   0.58 <0.2 20 2 73 2 4
KNG-20   1.08 11.2 30 20 86 2 3
KNG-21   8.77 74 132 2 1825 8 22
KNG-23   0.63 50.8 46 8 39 2 3
KNG-24   0.57 9.4 116 4 146 4 3
Samples above 0.20 g/t Au curoff
ALS Chemex:   aqua regia ICP - AES, Au - FA-AAS

 

GEOLOGICAL DESCRIPTION EXPANDED:

The subsurface IP anomaly is well defined and forms an elliptical zone coincident with anomalous gold values.  The rock sampling results ranged from 0.23 g/t Au to 55.7 g/t Au above a 0.20 g/t Au cut-off and conforms to historic sampling (2003) which had a high value of 28.56 g/t Au over a 1.83 m chip sample. The geological mapping has delineated a strong hydrothermal overprint of andesite host rocks with zones of intense phyllic to potassic style silicification, which carries the anomalous gold values. Within the alteration envelope and IP anomaly is a swarm of rhyolite to dacite porphyry dikes.  To date, the geological model based on geology, anomalous gold values associated with silicified zones, anomalous arsenic, antimony, copper and bismuth correlated with the gold values, and geophysical signature suggests excellent potential for a near surface zone of economic gold values and a deeper, porphyry style gold-copper deposit analogues to the Newcrest Ridgeway deposit in Australia (55Mtn grading 2.5 g/t Au and 0.77% Cu).  Development of the exploration data base is ongoing with a ground magnetic survey scheduled for early September.

For additional information visit www.asher-resources.com

About Asher Resources:

Asher Resources Corporation is a gold exploration company headquartered in Toronto, Ontario, with a regional office in Reno Nevada.  Asher's mission is to discover and develop high quality North American precious metal resources with its current focus in southern BC and the Nevada Great Basin.

The contents of this news release were supervised and reviewed by Mr. Paul Mattinen BSc Geo Engineering, CPG (AIPG), who is Chief Geologist, USA of Asher Resources and is a Qualified Person within the meaning of NI 43-101.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The forward-looking information contained in this press release is made as of the date hereof and Asher undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.


 

SOURCE: Asher Resources Corporation

For further information:

please contact Richard Buzbuzian at:
Telephone: (647) 501-3290
Email: rbuzbuzian@asher-resources.com

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Asher Resources Corporation

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