Ashburton Provides Corporate Update on Zeolite
Vancouver, British Columbia (FSCwire) - ASHBURTON VENTURES INC. (ABR-TSX:V) (ARB-FRANKFURT) (“Ashburton” or the "Company”) is providing this corporate update to its shareholders on its activities involving Zeolite.
Zeolite Grow Trial
The Zeolite Grow Trial was announced on March 1, 2018. On March 24, 2018, 48 pots were each planted with multiple seeds to ensure that each pot contained at least one female. At the stage where the plants expressed their gender, all the male and female plants were culled except for one female per pot. As of May 3, 2018, we now have 48 female plants which will all be tested and measured at the end of the trial.
The plants are expected to reach maturity in late June or early July 2018. After harvesting the mature buds and the entire biomass for measurement and sampling, lab analysis and the associated reporting are expected in August 2018.
Z-1 Zeolite Option
Ashburton has been working towards accelerating the amended agreement with the intent of earning 100% of the Z-1 property earlier than January 2019. At the time that the amended option was signed in January 2018, Ashburton has spent approximately half of the $500,000 it needed to spend on the Z-1 Zeolite Claims. Ashburton has been advancing additional funds to the operator, ZMM Minerals Canada Corp. since that time and Ashburton expects to reach the $500,000 spend during the summer months of 2018. A facility is being negotiated for lease, as well as equipment being purchased to allow the company to store, dry and process the zeolites into various sizes demanded by different markets. The company currently has several thousand tons of zeolite processed and piled at the mine site in Cache Creek.
Flooding in the Cache Creek area has not affected the zeolite mine site.
Other Zeolite Initiatives
As we work towards completing the acquisition of the Z-1 Zeolite mineral claims, focus will continue on developing markets for zeolite in Canada. Tests that are required to register our zeolite in Canada are being completed. This will enable us to create products for use in animal feeds.
Other Corporate Matters
Ashburton has turned its focus to developing industrial mineral properties and associated products that include these minerals, therefore, we have requested that our shareholders approve a change of name to Progressive Planet Solutions Inc. The vote to approve the name change will occur on May 31, 2018.
As part of this progression, we expect to complete more research and development work in the province of Alberta and have recently incorporated a wholly owned subsidiary, Progressive Planet Alberta Inc.
Ashburton Ventures Inc. is a Canadian-based junior exploration company focused on zeolite, lithium and graphite projects in Canada.
ON BEHALF OF THE BOARD
Signed “Stephen Harpur”
Stephen Harpur, CPA, CGA, CEO
For further information or investor relations inquiries, please contact:
Derek Knight, VP Operations.
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.
Source: Ashburton Ventures Inc. (TSX Venture:ABR, FWB:ARB)
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