TORONTO, June 9, 2014 /CNW/ - (TSXV:ACN) - Asher Resources Corporation (the "Company") is pleased to announce exploration drilling has commenced at the company's Lavington gold property consisting of a three-hole, 1000-metre program.
The Lavington gold property hosts known gold mineralization occurring within a 2.5 kilometre long by 400 metre wide shear zone which was drill tested by six widely spaced holes by BP Stelco in the late 1980's and early 1990's. Gold values in soils grading to 0.75 g/t Au have been sampled coincident with more extensive copper, zinc, arsenic and lead anomalies. Subsequent exploration work, including a recently completed IP, resistivity and ground magnetic program indicated that the best known mineralization is also associated with a discreet moderate IP anomaly and that most of the historic drill holes either missed or were stopped too short to adequately test the system.
Asher's drill program will test these underexplored opportunities.
Drill Location One:
The first drill hole is undercutting and parallel to a north striking historic drill hole (L90-07) which intersected a 125 metre zone averaging 0.307 g/t Au including a 34 metre zone which averaged 0.53 g/t Au.
Based on the new IP data, this new hole will be drilled to a depth of 250 metres to test a deep extensive west trending IP anomaly that hasn't been tested by any historic drilling.
The Company will also utilized a larger core size (HQ) compared to the historic drilling which used a smaller core size (NQ) that suffered from considerable local core loss and possible loss of gold mineralization. The larger core size will minimize core loss and increase certainty of capturing all mineralization.
Drill Location Two:
The second drill hole is collared 350 metres north of the first proposed hole and will undercut historic drill hole L89-02 (which intersected the same zone intersected in hole 90-07) by 45 to 50 metres to test the underlying IP anomaly that extends to the south from the collar location coincident with a wide arsenic-zinc-lead-copper-gold soil anomaly. This hole will also test part of the IP anomaly that will have been tested at depth by the first hole.
This second drill hole will continue to a depth of 500 metres if visual results during drilling warrant.
Drill Location Three:
The third proposed hole will be collared 250 metres north of historic holes L89-01 and L90-06 and 500 metres west of the first two 2014 holes.
Based on the results of past drilling, IP results and supporting multi-element geochemical evidence the previously drilling largely missed this target and may have been drilled too far south. The area to be drill tested is also overlain by a coincident strong zinc, lead and arsenic soil anomaly. A second linear gold anomaly will also be tested. This hole will continue to a depth of at least 350 metres.
Additional information on Lavington can be viewed at www.asher-resources.com, in Asher's new corporate power point presentation.
The technical information contained in this news release has been verified and approved by Leopold J. Lindinger, P.Geo, a qualified person for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects, of the Canadian securities administrators.
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 British Columbia 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.
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: (416) 361-6167, Email: [email protected]