Aston BAY Announces Additional Zinc Targets at Seal North
FOR IMMEDIATE RELEASE TSX-V: BAY
ASTON BAY ANNOUNCES ADDITIONAL ZINC TARGETS AT SEAL NORTH
August 1, 2018 – Toronto, ON – Aston Bay Holdings Ltd. (TSX-V: BAY) (“Aston Bay” or the
“Company”) is pleased to release additional results from interpretation of the 2017
high-resolution airborne gravity gradiometry survey over its 100% owned, >1,000,000
acre (4,145 km 2) Aston Bay Property , located in the Polaris mining district, Somerset
Island, Nunavut. Previous news releases highlighted drill targets from the Storm Copper
prospect, where two helicopter-supported diamond drill rigs are currently operating,
and along strike from/adjacent to the Sea l Zinc deposit (see the Company’s news
releases dated May 31 and June 21, 2018). The Company plans to begin drilling targets
in the Seal area in August.
The Seal North area lies along trend immediately northwest of the Seal Zinc deposit
(Figure 1), whi ch occurs within 200 m of tidewater and contains current NI 43 -101
Inferred Mineral Resources of 1.01 million tonnes (Mt), grading 10.2% zinc (Zn) and 46.5
grams per tonne ( g/t) silver ( Ag). The Seal Zinc deposit is characterized by stratiform
massive and replacive sphalerite -pyrite mineralization within the lower Ship Point
formation, and an associated locally mineralized pseudobreccia in the underlying Turner
Cliffs formation. The style of mineralization and the presence of pseudobreccia are both
comparable to mineralization at the Polaris Mine, which Cominco Ltd. operated for 21
years, producing 21 Mt of ore grading 13.4% Zn (Dewing et al., 2007).
Several gravity anomalies occur along trend from Seal and are localized within a broadly
stratigraphic gravity high within the Allen Bay formation, which overlies the sequence
containing the Ship Point and Thumb Mountain formations, host to Seal and Polaris
respectively (Figure 2). Two of these gravity anomalies have coincident historical zinc-in-
soil anomalies and are targets for ground follow -up and potential drilling. A third target
is defined by a localized gravity anomaly coincident with the contact between the Allen
Bay and overlying Cape Storm formations, also with a supporting historical zinc-in-soil
anomaly, and similarly suggests follow-up drilling. The historic al samples were not
analyzed for copper , and Aston Bay has now resampled these areas to provide a full
analytical suite.
Figure 1. Geological map of Seal North, Seal and Seal South areas, and location of
subsequent detailed figures. Inset map shows the location of Aston Bay’s Seal Zinc and
Storm Copper projects south of the Polaris mine and the community of Resolute Bay in
the Polaris mining district, Nunavut.
Figure 2. Seal North vertical gravity gradient, targets and zinc in soils.
REFERENCE
Dewing, K., Sharp, R.J., Turner, E., 2007, Synopsis of the Polaris Zn -Pb District, Canadian
Arctic Islands, Nunavut, in Goodfellow, W.D., ed., Mineral Deposits of Canada: A
Synthesis of Major Deposit -Types, District Metallogeny, the Evolution of Geological
Provinces, and Exploration Methods: Geological Association of Canada, Mineral Deposits
Division, Special Publication No. 5, p. 655-672.
QUALIFIED PERSON
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 Storm Project.
ABOUT ASTON BAY HOLDINGS LTD.
Aston Bay Holdings Ltd. (TSX -V: BAY) is a publicly traded mineral exploration company
exploring for large, high -grade, sediment-hosted copper and zinc deposits in Nunavut, a
mining-friendly Canadian jurisdiction. Aston Bay is 100% owner of the 1,024,345 -acre
(414,537-hectare) Aston Bay Property located on western Somerset Island, Nunavut.
The Aston Bay Property hosts the Storm Copper Project and the Seal Zinc Prospect, with
historical drilling confirming the 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, includin g 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 econom ic 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.
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or accuracy of this news release.
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DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN
OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNIT ED STATES.
THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE
UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES
LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S.
PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
FOR ADDITIONAL INFORMATION CONTACT:
Thomas Ullrich, Chief Executive Officer
Telephone: (416) 456-3516