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He made his debut for them in the 1-1 draw with Oldham the following day, and while short of full match fitness, did enough to impress Vale boss Brian Horton.
Ashcroft is grateful for the chance of regular first team football, saying: "I have been given a chance by Vale and hopefully I can get my career back on track.
"Being on the sidelines has made me more hungry and it's good to get started again.
"I almost came here in September when Wigan tried to sign Stephen McPhee, but that fell through."
Ashcroft hadn't started a first team game for Latics since last November, and his only appearance this term came as an 82nd minute substitute in the 3-1 win over West Brom earlier this month.
Latics manager Paul Jewell was happy to allow the loan move to go through, even though it leaves him short of senior professionals in the squad.
Jewell said: "This gives Lee the opportunity to play first team football which he hasn't had here for a long time. We wish him well."
It is not clear yet whether he will move to Vale on a permanent basis, although Latics are unlikely to stand in his way.
Vale are strapped for cash and had to release winger Jon McCarthy before sanctioning Ashcroft's loan.
One way of freeing up funds could be to try and revive McPhee's transfer to Latics.
Jewell had a £300,000 offer for the former Scottish Under 21 international accepted last month, only for the deal to fall through over the player's personal terms.
McPhee returned to the Vale side after a three-week injury lay-off on Saturday, and scored their equaliser with his first touch.
Meanwhile, a number of Latics' youth team players are being considered for international honours.
Greg Traynor has been called into Northern Ireland's Under 19s squad for a game in a fortnight's time, while Chris Lynch teamed up with a Scottish training squad recently in the same age group.
Nearer to home, England Under 19s are eyeing up Leighton Baines and Kevin Lee.
Both players have been watched playing for Latics' youth team in the North West Alliance League.
This evening, the youngsters turn their attention to the first round of the FA Youth Cup, playing Wrexham at the JJB Stadium (7pm).
Jason de Vos skippers Canada tonight in their international friendly against Scotland at Easter Road.
"It's the first time I won't have jet-lag after playing for Canada," joked the Latics captain ahead of the clash.
Courtesy of Dave Seddon from the Wigan Evening Post.