Calgary, Alberta – TheNewswire – October 5, 2022 – Ashley Gold Corp. (“Ashley” or the “Company“) (CSE:ASHL) is pleased to announce it has purchased a 15 claim block (315 hectares) located 50km East of Dryden, Ontario, (the “Property“) The Dryden-Sioux Lookout area of Northwestern Ontario, is situated on a broad shear zone potentially related to the Wabigoon Fault. Gold mineralization was first discovered on the property in 1937 in shear-hosted quartz veins. Strong quartz-ankerite-sericite alteration is a prominent feature of the shear zone.
George Stephenson, President of Ashley, stated, “The Property” is strategically located near Treasury Metals Inc. (TML.V) Goliath deposit of 1.2M oz, au., Goldlund deposit of 1.65M oz. au. and the Miller deposit of 80K oz. au. which compliments our properties historically reported possible and speculative reserves (101,000 tonnes of .20 oz. au., Source, resident geologist, Kenora, On.) the ore reserve calculations based on data in assessment work files, validity not guaranteed by OGS.
Pursuant to the Agreement, Ashley shall issue 275,000 shares for 100% interest in the “Property” subject to a .5 NSR with a buyback option of the .5 NSR, at anytime for $500,000. The shares to be issued will be in compliance with the Canadian Securities Exchange (CSE) and the Toronto Stock exchange (TSX) rules and regulations.
About Ashley Gold Corp.
Ashley Gold Corp was created to hedge against global inflationary pressures by investing in low risk precious opportunities
With the conservative approach to capital structure, opportunity identification, and prudent exploration, Ashley Gold Corp is positioning itself to maximize shareholder potential
On behalf of the Board of Directors
Ashley Gold Corp
George Stephenson, President and CEO
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