TORONTO, ON / ACCESSWIRE / April 11, 2019 / Aston Bay Holdings Ltd. (TSX-V: BAY; OTCQB: ATBHF) ("Aston Bay" or the "Company"), through its wholly owned subsidiary Blue Ridge Mining Inc. ("Blue Ridge" or "BRM"), is pleased to announce that it has commenced drilling a proposed 900 metre (m) diamond drill program on its Buckingham Gold Property located in Central Virginia, USA.
Drilling will target gold-bearing quartz veining that outcrops at surface for a strike length of over 150 m that has yielded up to 701 grams/tonne (g/t) Au (20.4 ounces per short ton) in surface grab samples and mineralized quartz vein intercepts of 15.57 g/t Au over 4.1m and 11.69 g/t Au over 3.1m in sparse historical drilling (see March 4, 2018 Aston Bay news release; all drill depths and assay intervals are measured-down-the-hole depths and thicknesses; they do not represent true widths). The outcropping quartz vein zone is associated with a gold-in-soil anomaly yielding up to 0.4 g/t Au in soils that extends for over 900 m.
In addition to the quartz vein zone, drilling will also target a zone of significant disseminated gold mineralization associated with disseminated pyrite in metavolcanic rock.
A property-wide ground magnetometer survey has already been completed. Grab samples of quartz vein containing visible gold at surface have also been collected and sent for assay.
"We are pleased to have the drill turning on our Buckingham property," stated Thomas Ullrich, CEO of Aston Bay. "The significant results from the small amount of previous work calls attention to the potential here. As well, since we signed this agreement just over a month ago, we are delighted to demonstrate how quickly we can advance a project from the agreement to drilling in this jurisdiction."
As per National Instrument 43-101 Standards of Disclosure for Mineral Projects, Michael Dufresne, M.Sc., P.Geol., P.Geo., a Director of and 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 on the Company's Aston Bay and Blue Ridge Mining Projects.
ABOUT ASTON BAY HOLDINGS LTD.
Aston Bay is a publicly traded mineral exploration company exploring for large, high-grade, copper, zinc and precious metal deposits in Nunavut, Canada and Virginia, USA. The Company is led by CEO Thomas Ullrich with exploration directed by Chief Geologist Dr. David Broughton, the award-winning co-discoverer of Kamoa-Kakula and Flatreef, in conjunction with 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 is 100% owner of the 1,024,345-acres (414,537-hectares) 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 has also acquired the exclusive rights to an integrated dataset over certain prospective private lands at the Blue Ridge Project, located in central Virginia. These lands are located within a copper-lead-zinc-gold-silver mineralized belt, prospective for sedimentary exhalative (SEDEX) and Broken Hill (BHT) type base metal deposits, as well as Carolina slate belt gold 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's public disclosure documents are available on www.sedar.com.
Statements made in this press release, including those regarding the completion of the acquisition, 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
Telephone: (416) 456-3516
Sofia Harquail, IR and Corporate Development
Telephone: (647) 821-1337
SOURCE: Aston Bay Holdings Ltd.