Aston Bay Drills 62.51 g/t Au over 1.39m and 35.61 g/t Au over 2.03m at its Buckingham Gold Property in Virginia, USA
FOR IMMEDIATE RELEASE TSX-V: BAY; OTCQB: ATBHF
Aston Bay Drills 62.51 g/t Au over 1.39m and 35.61 g/t Au over 2.03m at
its Buckingham Gold Property in Virginia, USA
June 5, 2019 - Toronto, ON - Aston Bay Holdings Ltd. (TSX-V: BAY; OTCQB: ATBHF) (“Aston Bay” or the “Company”)
is pleased to announce the initial results of its recently completed drill program at the Buckingham Gold Project
located in central Virginia, USA. Six large diameter (HQ) di amond drill holes totaling 878 metres (m) were
completed with partial results received to date for four of these holes.
Three of these four holes intersected significant near -surface gold mineralization, including 35.61 g/t Au over
2.03m in hole BUCK19 -001, 20.44 g/t over 3.30m and 34.25g/t over 0. 5m in hole BUCK19 -003, and in hole
BUCK19-004 24.73 g/t over 3.57m including 62.51 g/t over 1.39m. These results are presented in Table 1. Based
upon multiple vein intersections, the estimated true width is 80% of the core interval. The assay results are based
upon one kilogram pulp metallic screen analyses from HQ core for the mineralized intervals.
Table 1. 2019 Buckingham Project Drilling Quartz Vein Intersection Summary.
Drillhole From
(m)
To
(m)
Interval
(m)
Estimated
True Width
(m)*
Au
(g/t)
BUCK19-001 36.40 38.43 2.03 1.62 35.61
assays incomplete
BUCK19-002
no significant
intersection
assays incomplete
BUCK19-003 23.20 26.50 3.30 2.64 20.44
and 30.90 31.40 0.50 0.40 34.25
assays incomplete
BUCK19-004 55.73 59.30 3.57 2.85 24.73 **
including 56.51 57.90 1.39 1.11 62.51
assays incomplete
(* assuming a 72 degree NE dip on the quartz vein, the true width is 80%)
(** includes 2.18m of low-grade shoulder material averaging 0.83g/t Au)
The current drilling targeted an area of boulders and sub -crop of quartz veining in which visible gold had been
identified and sampled, followed by limited but successful drilling completed by a previous owner. That previous
program consisted of three holes on the Buckingham Property, all of which intersected significant gold, including
15.57 g/t Au over 4.1m and 11.69 g/t Au over 3.1m. In addition to gold-bearing quartz veining, the previous drilling
intersected a zone of sericite -pyrite alteration yielding 0.4 g/t Au over 24m (all historic intercepts are core
intervals, i.e., not true width; see March 4, 2019 Aston Bay press release).
The current drill program was designed to test along strike and down dip along the targeted northwest-southeast
trending vein system as well as test for zones of gold -bearing alteration. Three of the six drill holes intersected
quartz veining; results from all intercepted quartz-veined intervals are reported here. Several zones of moderate
to strong sericite-pyrite alteration were also intersected in several holes from the current drilling; assay results
from these zones are pending.
The vein 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 productio n 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.
Thomas Ullrich, the Company’s CEO commented: “The high grade gold mineralization that occurs within the quartz
veining is a very attract ive target, especially as it is present at the surface and near-surface. In addition, we are
very interested in the alteration zones that also have the potential to host disseminated-type gold mineralization,
similar to some economic deposits elsewhere in the region. This outcropping mineralized zone sits within a much
larger gold-in-soil anomaly, suggesting the potential for a much larger system concealed under cover. From this
data, we look forward to designing a comprehensive exploration program for both vein - and disseminated-type
gold mineralization, which will include geochemical and geophysical surveys, to identify additional high priority
drill targets along strike and downdip.”
The following is a summary of the intervals assayed to date from the 2019 drill prog ram. At present, sample
assaying is approximately 20% complete with all of the quartz veined intervals now completed. Samples from the
program were shipped for analysis at the ALS Laboratory in Reno, Nevada. Samples of quartz vein and several
adjacent “shoulder” samples were assayed by the metallic screen technique, while the remainder of the samples
received a standard 30g Fire Assay with an AA (Atomic Absorption) finish. Proper chain of custody and all quality
control protocols were maintained. The drill hole locations are illustrated in Figure 1; a cross-section through holes
BUCK19-003 and-004 is presented in Figure 2.
BUCK19-001:
Hole BUCK19-001 was collared approximately 25m from the central portion of the quartz vein subcrop exposures
and was drilled to the southwest. The massive white quartz vein contained several clusters of small visible gold
grains, along with minor chalcopyrite, pyrite, sphalerite, galena and trace pyrrhotite. The vein was intersected at
the base of the weathering profile (sa prolite) at the transition into un -weathered phyllite. The vein assayed
35.61g/t Au (1.04oz/ton Au) over 2.03m core length. The apparent dip of the vein is 72o to the northeast, yielding
an estimated true thickness of approximately 1.62m.
BUCK19-003:
Holes BUCK19-003 and BUCK19-004 were drilled parallel to holes BUCK19-001 and BUCK19-002 on a section
approximately 25m to the southeast. BUCK19-003 intersected two quartz vein intervals. The upper (main) quartz
vein interval most closely resembled the vein intersected in BUCK19-001 with sulfide mineralization and abundant
fine visible gold grains , yielding 20.44g/t (0.60opt) over a core interval of 3.30m between 23.20m and 26.50m.
This represents a n estimated true thickness of approximately 2.64m. A second thin quartz vein interval was
intersected between 30.90m and 31.40m (0.50m interval, 0.40m estimated true thickness) that yielded 34.25g/t
(~1.00opt) Au. Three samples of greywacke between the two vein intervals assayed between 0.18 and 0.23g/t
Au. Including these samples, the interval with both veins (23.20-31.40m) averaged 10.42g/t (0.30opt) Au over an
8.2m core interval (~6.55m true thickness). The lower quartz vein interval sits adjacent to a gouge zone which
may be part of a structural offset zone.
BUCK19-004:
BUCK19-004 was an approximately 25m step -back undercutting hole 3. Similar to BUCK19-003, BUCK19-004
intersected two (2) quartz vein intervals, but located closer together. Both intervals are similar in character to
BUCK19-001, containing visible gold. The upper interval yielded 41.90g/t (1.22opt) Au over 0.85m core length
(56.51m-57.36), while the lower vein interval yielded 146.0g/t (4.26opt) Au over 0.35m core length (57.55m-
57.90m). The phyllite between the vein intervals contained anomalous gold (0.18g/t Au) over the 0.9m core
length. Including this sample, the interval with both veins (from 56.51m to 57.90m) averaged 62.51g/t (1.82opt)
Au over a core interval of 1.39m, representing a true thickness of approximately 1.11m. In addition, there are
low-grade (anomalous) gold intervals assaying up to 0.98g/t Au in several ‘shoulder samples’ adjacent to the is
vein interval. Including these shoulder samples, the zone of quartz vein and adjacent pyrite mineralized phyllites
averaged 24.73g/t (0.72opt) Au over a core interval of 3.57m between 55.73m and 59.30m, representing a true
thickness of approximately 2.85m.
BUCK19-002, BUCK19-005 and BUCK19-006:
No significant quartz vein was intersected in these holes. Several fault zones were intersected throughout these
holes suggesting the vein may have been fault off set in this area. Zones sericite -pyrite alteration are clearly
present, however, and all holes, including the non-quartz veined portions of BUCK19-001, -003 and -004, will be
assayed in their entirety. These results will be presented in an upcoming release when results are received.
Figure 1: Cross section through holes BUCK19-003 and -004, looking NW.
Figure 2: Drill hole locations, Buckingham Gold Project, Virginia.
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 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.
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