Aston Bay Commences Soil Sampling and Prospecting Program at Its Buckingham Gold Property in Virginia, USA
Aston Bay Commences Soil Sampling and Prospecting Program at Its
Buckingham Gold Property in Virginia, USA
TORONTO, ON / ACCESSWIRE / August 21, 2019 / Aston Bay Holdings Ltd.
(TSXV:BAY)(OTCQB:ATBHF)(Frankurt:6AY) (“Aston Bay” or the “Company”) is pleased to
announce that it has initiated a soil sampling and prospecting program on its Buckingham Gold
Property located in Central Virginia, USA. This is the first soil sampling program conducted on
the property, expanding from known sub-cropping quartz containing visible gold that has yielded
up to 701 g/t Au (20.4 ounces Au per short ton) in surface grab samples.
Recent drilling by Aston Bay at the Buckingham Gold Property intersected significant gold
mineralization in quartz veins, including 35.61 g/t Au over 2.03m core length in hole BUCK19-
001, 20.44 g/t over 3.30m and 34.25 g/t over 0.5m core length in hole BUCK19-003, and 24.73
g/t over 3.57m including 62.51 g/t over 1.39m core length in hole BUCK19-004. Broad zones
of gold mineralization associated with sericite-quartz-pyrite alteration were intersected as well:
2.16 g/t Au over 18.07m including 17.45 g/t Au over 1.57m core length and 1.90 g/t Au over
22.22m including 19.30 g/t Au over 1.5m core length in BUCK19-005 (see June 27, 2019
Aston Bay release). Based upon multiple vein intersections, the estimated true width is 80% of
the core interval.
“We are excited to continue with gold exploration on this property,” stated Thomas Ullrich, CEO
of Aston Bay. “It is an opportune time to begin this program at Buckingham Gold, as by the end
of the month we anticipate expanding the program to a larger surrounding area to examine a
significant gold-in-soil anomaly that extends for over 4.5 kilometres.”
The program will comprise orientation geochemical surveys over the area of outcropping gold-
bearing quartz mineralization, including both soil and rock chip sampling. Soil sampling will be
initially conducted on a 50m x 25m spaced grid over the entire property; locally, samples will be
collected on 12.5m spacing in the area of the known mineralized quartz vein. Additionally, a
prospecting program will target outcropping quartz veins and subcrop.
The gold-bearing system is hosted within a package of likely Cambrian-age sediments, including
greywackes with minor quartz-arenites (phyllite, schist and quartzites), within the Appalachian
orogenic belt. This region is the site of the historically prolific Pyrite Belt which hosted a
reported 250 gold mines that were in production prior to the California gold rush of 1849 but has
seen little recent mineral exploration. Gold production has also occurred to the south in the
Carolina Slate Belt, notably at Oceana Gold’s Haile Mine located in South Carolina with
commercial production commencing in 2017 and slated to produce up to 150,000 ounces of gold
per year.
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 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 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 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 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’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”, “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.