Aston BAY Announces Results of 2018 Summer Drilling Program
FOR IMMEDIATE RELEASE TSX-V: BAY; OTCQB: ATBHF
ASTON BAY ANNOUNCES RESULTS OF 2018 SUMMER DRILLING PROGRAM
October 23, 2018 – Toronto, ON – Aston Bay Holdings Ltd. (TSX -V: BAY; OTCQB: ATBHF)
("Aston Bay" or the "Company") is pleased to announce the results of its 3,135- metre, nine-hole
2018 summer exploration drilling program at its Aston Bay Property located on Somerset Island,
Nunavut. The property is underlain by Paleozoic carbonate rocks prospective for high- grade
copper and zinc mineralisation, with demonstrated affinities to the nearby past -producing Polaris
zinc mine.
The program comprised seven holes at the Storm copper prospect and two along strike from the
Seal zinc deposit. Target s were based primarily on interpreted gravity gradiometry anomalies
proximal to known mineralisation at Storm and Seal. Unusually challenging weather reduced the
planned meterage for this drill season and several anomalies remain untested. The majority of the
drill holes were relatively shallow at approximately 300m or less (Table 1).
VTEM and gravity gradiometry delineate copper mineralization at Storm
At Storm, hole AB18 -09 targeted a 200 by 200 metre VTEM anomaly coincident with the
western flank of a gravity anomaly, ~2.2 kilometres along strike from the 2750N zone (Figures 1
and 2) . An historical drill hole, ST97 -15, was drilled northwards to intersect local copper
mineralisation (3m grading 1.5% Cu) on what Aston Bay’s modelling interpreted as the fla nk of
the VTEM anomaly. Drill hole AB18 -09 was drilled southwards and intersected s ignificant
copper in variably brecciated dolomudstone of the Allen Bay Formation from 39 to 83 metres
downhole, primarily as fracture -controlled chalcocite with lesser to minor chalcopyrite, native
copper and cuprite. Significant results within the 44m copper mineralized zone include:
• from 39.0 to 40.5m, 1.5 m grading 4.39% Cu and 9.76 g/t Ag
• and, from 62.5 to 83m, 20.5m grading 0.56% Cu
• including, from 74.0 to 76.0m, 2.0m grading 2.54% Cu
These results demonstrate the continued effectiveness of VTEM , in conjunction with modelled
gravity gradiometry, in detecting shallow copper sulphides. The remaining holes at Storm
intersected local pyrite mineralisation, primarily in Allen Bay dolomudstones (Figures 2 and 3).
The origin of the se targeted gravity gradiometry anomalies remains unclear: variations in bulk
rock density , topography and depth to target are possible explanations being investigated in
advance of t argeting and dr ill planning for the 2019 season. Density data obtained from this
year’s core drilling will be instrumental in improving the targeting. Numerous gravity targets in
the vicinity of the ~5k m-long Storm graben remain untested, and drilling to date has been
shallow relative to the prospectivity for stratiform mineralisation at depth.
Gravity target yields new zinc mineralized zone south of Seal
At Seal, only two holes were completed due to challenging weather conditions and an initial
focus on Storm targets (Figures 4 and 5). Nonetheless, drilling was successful in discovering an
interpreted extension of the Seal mineralised system approximately 1.2 km southwards along
strike, in the northernmost part of the Seal South area and adjacent to tidewater. Drill hole AB18-
06B targeted the extreme northern end of an 800m long positive gravity gradiometry anomaly
(S12 on Figure 5) coincident with local subcropping sphalerite -pyrite mineralisation . After
passing through locally weakly mineralised sandstone and dolomit e of the lower Ship Point
Formation, host to the Seal deposit, t he drill hole intersected significant sphalerite mineralisation
between 109.5 m and 136.0 m within moderately to strongly altered pseudobreccia,
pyrite/marcasite and rubbly dolostone and limes tone of the Turner Cliffs Formation. Results
include:
• from 125.0 to 131.0m, 6.0m grading 0.67% Zn,
• including from 127 to 129m, 2.0m grading 1.11% Zn.
As at Seal, the mineralis ed pseudobreccia in AB180- 06B is considered analogous to
pseudobreccia present at the Polaris deposit, where it occurs as a lateral hydrothermal alteration
equivalent to ore. The discovery of mineralised pseudobreccia at Seal South in the Turner Cliffs
Formation is interpreted as a favourable indicator of hydrothermal alteration and the potential for
additional stratiform zinc mineralisation in vicinity of Seal.
The last hole of the 2018 Seal program, AB 18-08, was collared 100 m southeast along strike
from AB18-06B. It intersected, at a similar position in the Turner Cliffs Formation, a 1m zone of
sphalerite mineralisation from 132.0 to 133.0m grading 0.16% Zn, within a broader zone of weak
mineralisation. Core recoveries in the zone were poor, only 38% in the specified interval.
The remaining ~700m strike length of the S12 gravity anomaly is untested and is a promising
drill target for 2019. Four additional priority anomalies, S13 – S16, occur in close proximity to
the Seal deposit (Figure 5) and also are untested , as are several other anomalies at Seal North
(see August 1, 2018 press release).
“Aston Bay is very encouraged by the discovery of zinc mineralisation coincident with Polaris -
type pseudobreccia spatially associated with the S12 gravity anomaly at Seal South, a t this early
stage of testing the multiple anomalies in the vicinity of the Seal deposit ,” commented Dr. David
Broughton, Chief Geologist. “Results at Storm will provide impetus for continued improvement
of geophysical modeling, and refinement of drill targets for the 2019 season.”
“These results demonstrate that we now better recognize the signature of both copper and zinc
mineralization in our data,” stated Thomas Ullrich, CEO. “We are eager to apply these insights
to drilling throughout this large and prospective property.”
Table 1: Drill hole summary, Aston Bay Property 2018 drill program
Hole ID Prospect Easting Northing Inclination Azimuth Depth (m)
AB18-01 Storm East 472370 8169732 -80 180 191
AB18-01B Storm East 472370 8169732 -79 181 308
AB18-02 Storm West 462933 8175743 -80 180 167
AB18-02B Storm West 462933 8175743 -85 180 185
AB18-02C Storm West 462933 8175743 -85 180 158
AB18-03 Storm East 474362 8169596 -79 193 316
AB18-04 Storm West 459523 8176883 -80 179 473
AB18-05 Storm West 462701 8175131 -80 180 322
AB18-06 Seal South 439445 8182722 -59 244 51
AB18-06B Seal South 439445 8182722 -60 240 171
AB18-07 Storm East 471300 8170850 -80 176 300
AB18-08 Seal South 439525 8182655 -60 241 296
AB18-09 Storm Centre 464016 8173190 -58 183 200
Figure 1: Storm area 2018 drill collar locations and location of detailed figures Storm West and Storm East. Inset map shows the
location of Aston Bay’s Seal z inc and Storm copper projects south of the Polaris mine and the community of Resolute Bay in the
Polaris mining district, Nunavut.
Figure 2: Storm West area: gravity targets, vertical gravity gradient, select VTEM anomalies and 2018 drill collar locations.
Figure 3: Storm East area: gravity targets, vertical gravity gradient, select VTEM anomalies and 2018 drill collar locations.
Figure 4: Geological map of Seal and Seal South areas. 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 5: Gravity gradiometry map of Seal deposit and Seal South prospect, with 2018 drill collar locations, select geology, and
historical drilling. The surface projection of the Seal deposit is shown in grey.
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. is a publicly traded mineral exploration company exploring for large,
high-grade, sediment -hosted copper and zinc deposits in North America. 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 hi storical drilling confirming the presence of sediment- hosted copper and zinc
mineralization. The Company has also entered into an agreement to acquire exclusive rights to
an integrated geophysical, geochemical and geological dataset over a 1.2 million-acre (0.5
million-hectare) area located in central Virginia, USA . 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 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", "expec t", "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 releas e, 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, m eaning 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 Ve nture 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