Ashley Gold Corp. announced that it has completed unconstrained inversion modelling of the recently acquired drone magnetics. The purpose of the inversion was to provide indication of structure at depth to guide the 2023 drill program.

A magnetic low has been imaged correlating to the Quartz Feldspar Porphyry (QFP) associated with the Tabor Lake mineralization. The Quartz Feldspar porphyry (QFP) is interpreted to have a negative magnetic susceptibility, which correlates with veins hosting gold mineralization at Tabor Lake. The higher magnetic susceptibility is related to the mafic rocks which have increased iron content.

Diamagnetic minerals such as quartz and gold tend to have slightly negative magnetic susceptibleibilities. The deepest part of the magnetic anomaly is open to the bottom of the inversion model (1,000m). An additional negative magnetic anomaly is seen to the northwest which will be evaluated at surface for potential outcrop.

Several other similar anomalies exist across the Tabor Lake project to be evaluated this fall. The same negative magnetic anomaly in cut out 3D view looking north-west. The anomaly is approximately 200m by 150m and on the eastern side greater than 250m depth.

Depth increases to the southwest where it is open to the base of the model at 1,000m. From historical intercepts of the mineralized veins in drilling and in the shaft, this coincides with the down dip direction of both the veins and the QFP. The deepest historical drill test is ~150m giving a range of 100m in the east to several hundred metres in the west of untested negative susceptibility anomaly.