Ashburton Ventures Inc. (TSXV:ABR) announced that it’s received TSX Venture Exchange approval for its option agreement with Cavan Ventures Inc. (TSXV:CVN). Under the agreement, Ashburton will be able to earn a 60-percent stake in the Buckingham graphite project.
A 2,000-meter drilling program will be started at Buckingham in the coming weeks.
As quoted in the press release:

The Buckingham Graphite Property consists of 28 claims in Ranges VIII and IX, Buckingham Township, Quebec which cover an area of 1,683 hectares. Exploration on the southern part of the claim group has yielded assay results as high as 21.6% Cg (graphitic carbon) over 14.5 metres from channel samples and purity results up to 96.1% Ct (total carbon) from large flake fractions (see Cavan releases, July 17, 2014 & May 28, 2015).
A drilling permit has been acquired and the company plans to commence an initial phase of drilling at the project in the coming weeks. The drilling program will consist of up to 2,000 metres and will be aimed at testing high priority targets in the southern area of the claims.

Michael England, president and CEO of Ashburton, commented:

Our review of data acquired with the project suggests extensive strike length of mineralization, continuing along strike from the historic workings, which we intend to test with the upcoming drilling program. This initial program targets only a small portion of the total potential at the Buckingham project and we anticipate a busy season going into 2016.

Click here to read the full Ashburton Ventures Inc. (TSXV:ABR) press release.