Ashburton Ventures (TSX: V.ABR, Stock Forum) in conjunction with Solitaire Minerals (TSX: V.SLT, Stock Forum) said that preliminary geophysical work completed at its Chukuni Property in Red Lake, Ontario had helped it identify five potential drill targets.
Shares of Ashburton were up 1.5 cents or 15% to 11.5 cents on Tuesday. It was a good day for gold shares all around. The TSX Capped Gold Index rallied 2.8%.
Darwin53 informed the others on the board: “Spoke to Company: cashed up, kicking the dirt on the Li20 claims, reviewing IP survey results on Chukuni, Red Lake and prepping for drill program late fall. Valley project, Yukon now on hold until the spring. Sounds logical to me. Moving into the winter months in some areas now.”
And as for the relationship between Ashburton and Solitaire, coffintrader reported: “Ashburton Ventures has an option agreement with Solitaire Minerals Corp. to acquire a 60-per-cent interest in the Chukuni property consisting of three claims, covering 2,035 acres in the Red Lake mining district of Ontario.”
The Chukuni property, as noted in the press release, is just 3.5 kilometers from Goldcorp’s (TSX: T.G, Stock Forum) Red Lake mine, Canada’s largest gold mine.
Many of the posters noted that Ashburton’s float is very small. “Had some just got a wack more,” according to ramblersrest. If memory is correct i think they also got a great Lithium potential in Nevada and they are also an UW area player in the Yukon [white gold play led by Underworld Resources –Ed.]. Low float great mgt . vastly undervalued , just needs a little boost LOL.”
Copyright 2009 Stockhouse
