The acquisition of the Tabor Lake Mine completes Ashley’s ultimate goal of strategically acquiring multiple claim groups to consolidate into one large 1811 hectare property.
The property is located approximately 40 km southeast of Dryden, Ontario and is readily accessible by travelling 35 km east of Dryden via Trans-Canada Highway (Hwy 17) then heading south approximately 7 km on an all season maintained gravel logging road known as Snake Bay Road for 7 km. From this point, Camp 33 Road and numerous historic logging roads head east for 5 km and transect the project providing additional access throughout the region. The amalgamated (19.09 km2) project consists of the newly acquired Tabor lease block that will be wholly owned by Ashley Gold Corp after completion of the sale transaction and the recently acquired contiguous “Santa Maria” project consisting of an additional 74 mining claims.
The project is centrally located within the prolific Wabigoon Greenstone Belt in western Ontario with numerous significant multi-million ounce gold reserves including Treasury Metals’ Goliath and Goldlund, New Gold’s Rainy River, Agnico Eagle’s Hammond Reef, and First Mining’s Cameron deposits. The Greenstone belt lies within the western Wabigoon Subprovince, a granite-greenstone terrane of the Superior Province. A number of thick volcano-sedimentary sequences consisting of mafic to felsic lavas and associated intrusions and pyroclastic rocks, all of which are generally overlain by sedimentary sequences, characterize the belt. Gold-bearing mineralized zones on the project are focused in a northwest-southeast corridor within both greenstone and porphyritic intrusions.
Historical workings within the Tabor Mine lease consist of a 275’ (~84m) vertical shaft with two horizontal crosscuts at the 125’ (~38m) and 250’ (~76m) levels both of which intersected high-grade gold-bearing quartz-carbonate vein systems which were drifted and an unspecified quantity of ore extracted noted to grade an average of at least 0.34 oz/t (10.58 g/t) Au up to 1.36 oz/t (42.43 g/t) Au.
At least nine (9) individual veins have been encountered in past exploration, both on surface and in drilling ranging in thickness from 6” (15cm) to 5’ (~1.5m) in width with several high-grade intercepts. The main “A” Vein extends from surface where an open-cut bulk sample of 77 tons averaging 16.8 g/t Au was extracted to a minimum vertical depth of 400’ (125m). The “A” Vein was also intersected and drifted on the 125’ level where a bulk sample of 1.75 tons averaging 42.43 g/t Au was extracted during resampling efforts in the 1980’s. Historic drilling and exploration also note at least three (3) additional parallel veins between the 225’ (70m) and 425’ (130m) vertical depths with highlights of 26.95 oz/t (838.24 g/t) Au over 3’ (0.9m), 4.95 oz/t (153.96 g/t) Au over 3’ (0.9m), and 1.93 oz/t (60.03 g/t) Au over 3’ (0.9m).
*Please note, the gold grades, depths, and widths of drilling intercepts, historic workings architecture and average mining grades, and bulk sample sizes and grades are all historic in nature and non-compliant to the current 43-101 standards of reporting and cannot be accurately verified by the issuer at this time.
The Santa Maria portion of the project consists of 74 single cell mining claims over 3840 acres (1554 hectares). There are at least four known gold showings reported to be on the property within the mining claims. These showings include the Santa Maria Shaft Zone (Shaft #1), The Lee Lake South Occurrence, The Lee Lake North Shore Occurrence, and, the Long Lake Gold – Quartz Vein.
An airborne EM & magnetic survey flown in 2012 by Geotech Ltd, identified 3 distinct EM anomalies. Each anomaly is suggestive of bedrock conductivity and should be considered high priority areas for follow-up exploration work.