TORONTO, March 19, 2013 /CNW/ - Asher Resources Corp. ("Asher" or the "Company") (TSXV: ACN) is pleased to announce it has received approval from the United States Bureau of Land Management (BLM) to conduct a 3050 m (10,034 ft) reverse circulation drilling program in sixteen holes on its King Mine project, located in Mineral county, Nevada, approximately 10 miles east of the past producing Rawhide gold mine.
The drilling program is designed to test areas of highly anomalous gold values associated with a strong, well defined, IP anomaly following geophysical surveys and geological mapping carried out during the 2012 field season.
The subsurface IP anomaly is well defined and forms an elliptical zone spatially related to the anomalous gold values. 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. 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 gold-copper deposit.
All technical information in this release has been reviewed by Paul Mattinen (A.I.P.G. - CPG) who is the Qualified Person for the Company, pursuant to NI 43-101, and Chief Geologist of Asher Resources Corporation.
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 assets with its current focus in southern BC and the Nevada Great Basin.
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:
Richard Buzbuzian at:
Telephone: (647) 501-3290
Email: [email protected]