TORONTO, ON / ACCESSWIRE / June 10, 2020 / Aston Bay Holdings Ltd. (TSXV:BAY)(OTCQB:ATBHF) ("Aston Bay" or the "Company") is pleased to announce that it will resume drilling at its Buckingham Gold Property located in Central Virginia, USA, on June 15th, 2020. In addition, the Company announces that all core samples from the initial (March 2020) phase of the current drill program have been shipped to the laboratory for analysis, with results anticipated in the coming weeks. Samples will be analyzed by standard fire assay techniques, which will include metallic screen assaying of selected intervals with visible alteration and mineralization (including visible gold). Funding is in place to complete the remaining ~800 metres (m) of the current drill program and to conduct additional follow-up drilling.
A total of 1,218 m was drilled in ten diamond drill holes at the Buckingham Main Zone in March 2020 prior to the suspension of the current program due to Covid-19 virus restrictions (see March 24, 2020 Aston Bay press release). Logging of the core confirmed that the 2020 drilling has intersected veining and alteration similar to that encountered in the 2019 drilling of the zone, which included core-length intercepts of up to 35.6 g/t Au over 2.03m and 24.7 g/t Au over 3.57m in gold-bearing quartz veins, as well as 2.2 g/t Au over 18.1m and 1.9 g/t Au over 22.2m in adjacent but separate sericite-quartz-pyrite alteration zones (see June 5, 2019 Aston Bay release).
QUALIFIED PERSON
As per National Instrument 43-101 Standards of Disclosure for Mineral Projects, Andrew Turner, P.Geol., a consultant to Aston Bay, is the Qualified Person for the Company and has prepared, validated and approved the technical and scientific content of this news release. The Company strictly adheres to CIM Best Practices Guidelines in conducting, documenting, and reporting its exploration activities.
About Aston Bay Holdings
Aston Bay is a publicly traded mineral exploration company exploring for gold and base metal deposits in Virginia, USA, and Nunavut, Canada. The Company is led by CEO Thomas Ullrich with exploration in Virginia directed by the Company's advisor, Don Taylor, the 2018 Thayer Lindsley Award winner for his discovery of the Taylor Pb-Zn-Ag Deposit in Arizona.
The Company has acquired the exclusive rights to an integrated dataset over certain prospective private lands and has signed agreements with timber and land companies which grants the company the option to lease the mineral rights to 11,065 acres of land located in central Virginia. These lands are located within a gold-copper-lead-zinc mineralized belt prospective for Carolina slate belt gold deposits and Virginia gold-pyrite belt deposits, as well as sedimentary VMS, exhalative (SEDEX) and Broken Hill (BHT) type base metal deposits. Don Taylor, who led the predecessor company to Blue Ridge and assembled the dataset, has joined the Company's Advisory Board and will be directing the Company's exploration activities for the Blue Ridge Project. The Company is actively exploring the Buckingham Gold Project in Virginia and is in advanced stages of negotiation on other lands in the area.
The Company is also 100% owner of the Aston Bay Property located on western Somerset Island, Nunavut, which neighbours Teck's profitable, past-producing Polaris (Pb-Zn) Mine just 200km to the north. The Aston Bay Property hosts the Storm Copper Project and the Seal Zinc Deposit with drill-confirmed presence of sediment-hosted copper and zinc mineralization.
The Company's public disclosure documents are available on www.sedar.com.
FORWARD-LOOKING STATEMENTS
Statements made in this press release, including those regarding the closing and the use of proceeds of the private placement, management objectives, forecasts, estimates, expectations, or predictions of the future may constitute "forward-looking statement", which can be identified by the use of conditional or future tenses or by the use of such verbs as "believe", "expect", "may", "will", "should", "estimate", "anticipate", "project", "plan", and words of similar import, including variations thereof and negative forms. This press release contains forward-looking statements that reflect, as of the date of this press release, Aston Bay's expectations, estimates and projections about its operations, the mining industry and the economic environment in which it operates. Statements in this press release that are not supported by historical fact are forward-looking statements, meaning they involve risk, uncertainty and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Although Aston Bay believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which apply only at the time of writing of this press release. Aston Bay disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by securities legislation. We seek safe harbour.
Neither TSX Venture Exchange nor its regulation services provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
FOR ADDITIONAL INFORMATION CONTACT:
Thomas Ullrich, Chief Executive Officer
[email protected]
(416) 456-3516
Sofia Harquail, IR and Corporate Development
[email protected]
(647) 821-1337
SOURCE: Aston Bay Holdings Ltd.