TORONTO, Oct. 24, 2013 /CNW/ - Asher Resources Corp. ("Asher" or the "Company") (TSX-V: ACN) is pleased to announce drilling has now commenced at Asher's King Mine
Project in Nevada, USA. The exploration program, comprised of 2,150m
(7,074ft) of reverse circulation drilling testing 11 high priority
targets of highly anomalous gold values which is associated with a
strong, well defined IP anomaly following geophysical surveys and
geological mapping carried out during the 2012 field season.
The King Mine Project is located in Mineral County, Nevada,
approximately 10 miles east of the past producing Rawhide gold mine on
the Walker Lane Trend.
"We are delighted to report drill exploration is underway in earnest at
King Mine as we test our first 11 high priority targets" commented
Richard Buzbuzian, President and CEO Asher Resources "We are also very
pleased to report Asher will be conducting a series of site tours with
various interested parties while drilling is underway"
Asher's is fully funded for the next 12 months to execute its
exploration programs and estimates a cash balance of approximately $1
million at the end of this 12 month period.
About King Mine:
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 (2002) 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 on 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 deposit 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 a porphyry copper - gold setting with potential for a near
surface zone of gold mineralization and a deeper, porphyry style
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
More information can be found at 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
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: (416) 361-6167 ext 237