Aston Bay Holdings Intercepts 37.70 g/t Au over 1.5 m and 6.56 g/t Au over 2.18 m in Completed Phase 2 Results at its Buckingham Gold Project, Virginia, USA
FOR IMMEDIATE RELEASE TSX-V: BAY; OTCQB: ATBHF
Aston Bay Holdings Intercepts 37.70 g/t Au over 1.5 m and 6.56 g/t Au over 2.18 m
in Completed Phase 2 Results at its Buckingham Gold Project, Virginia, USA
Highlights
• 37.70 g/t Au over 1.50 m (BUCK-022b), beginning at 15 m from surface
• 6.56 g/t Au over 2.18 m (BUCK-020) in a 50 m step-out from previous drilling
• 194 soil and rock chip sample results pending from parcels of land surrounding two historic
gold producers in the district
October 13, 2020 - Aston Bay Holdings Ltd. (TSX-V:BAY; OTCQB:ATBHF) (“Aston Bay” or the “Company”)
is pleased to present assay results from the recently completed Phase 2 diamond drill program at its
Buckingham Gold Property located in Central Virginia, USA. Phase 2 of the 2020 Buckingham drill
program comprised seven (7) large diameter (HQ) oriented diamond drill holes totaling 803 metres (m),
which added to the 1,218 m drilled in ten holes in the first phase of the program in March; results from
two of these holes have been previously reported (see August 4 and 10, 2020 Aston Bay press releases).
The s ignificant gold intersections from the final five Phase 2 drill holes are presented in Table 1 ;
intersections from all Buckingham Vein drill holes are presented in Table 2.
Table 1. 2020 Phase 2 Buckingham Project Drilling Summary with Significant Gold Intercepts.
From To Interval Estimated Au
Drill Hole (m) (m) Length True Width (g/t) Target
(m) (m)*
BUCK20-017 no significant intersection disseminated zone
BUCK20-020 38.10 40.28 2.18 1.74 6.56 vein
including 38.53 40.28 1.75 1.40 8.07 vein
including 39.11 40.28 1.17 0.94 10.68 vein
BUCK20-021 no significant intersection vein
BUCK20-022 14.00 15.50 1.50 1.20 12.50 vein
and 44.00 54.03 10.03 8.02 1.44 disseminated zone
and 60.16 61.62 1.46 1.17 6.26 disseminated zone
including 61.22 61.62 0.40 0.32 21.90 disseminated zone/vein
and 72.80 92.12 19.32 15.46 0.32 disseminated zone
and 128.21 130.72 2.51 2.01 1.53 disseminated zone
BUCK20-022b 15.50 17.00 1.50 1.20 37.70 vein
BUCK20-023 24.42 46.14 21.72 17.38 0.57 disseminated zone
including 29.90 43.63 13.73 10.98 0.76 disseminated zone
and 51.14 52.50 1.36 1.09 1.59 disseminated zone
and 65.71 75.43 9.72 7.78 0.77 disseminated zone
*assuming a 72° dip on the quartz vein, the true width is 80%
**three holes drilled by a previous operator at Buckingham Main Zone in 2016
Drill hole locations with the significant gold intercepts can be seen in Figure 1 and in a longitudinal cross
section in Figure 2. Refer to the July 27, 2019 and August 5, 2020, Aston Bay news releases for additional
information on previous drilling.
“Our drill programs confirm a high-grade, at -surface gold vein system at Buckingham as well as an
adjacent wider zone of lower-grade disseminated gold mineralization,” stated Thomas Ullrich, CEO of
Aston Bay . “ With almost no rock outcropping at the surface, this discovery is a testament to the
exploration expertise of Don Taylor and his team and confirmation of their exploration thesis for gold in
Virginia. This is just one of several targets in the region generated by that team, most of which are still
to be investigated.”
“The next step is to examine the potential subsurface extents of the Buckingham Vein, so we are excited
to follow up this discovery with an Induced Polarization geophysical program to delineate anticipated
down-dip and along- strike extensions. In addition to Buckingham, we plan to conduct similar
geophysical programs this fall on two other properties where shallow pre-1850 mining also confirms the
existence of near-surface gold. We are eager to see the results of using modern geophysical methods
on the three properties, methods that were unavailable to the historic explorers, and to follow up those
results with drilling.”
About the Buckingham Main Zone
Discovered by prospecting in 2015 following up on a gold anomaly from a 1996/97 stream sediment
survey, the NW-SE trending Buckingham Main Zone comprises a series of visible gold -bearing quartz
vein outcrops that extend over a strike length of some 150 m at surface and have yielded grab sample
assay values up to 701 grams per tonne (g/t) Au. Three core holes drilled on the vein in 2016 yielded
significant core-length intercepts of 17.1 g/t Au over 1.98m (WAR16-06) and 24.3 g/t Au over 2.59m
(WAR16-05).
2019 Drilling
The veining and alteration encountered in the 2019 drill program included core-length intercepts of up
to 35.6 g/t Au over 2.03 m and 24.7 g/t Au over 3.57 m in gold-bearing quartz veins, as well as 2.2 g/t
Au over 18.1 m and 1.9 g/t Au over 22.2 m in adjacent but separate sericite -quartz-pyrite alteration
zones (see June 5, 2019 Aston Bay release).
Phase 1 2020 Drilling
The Phase 1 2020 drill program encountered veining and alteration similar to that in the 2019 drilling
of the zone, yielding core length intercepts of 5.81 g/t Au over 6.29 m including 29.9 g/t Au over 0.92
m, 19.25 g/t Au over 1.4 m and 14.54 g/t Au over 1.06 m in quartz vein material (refer to July 22, 2020
Aston Bay news release).
Phase 2 2020 Drilling
In this recently completed Phase 2 drilling, four of the drill holes (BUCK -018 through BUCK -021, see
Figure 1) targeted the along-strike projection of the Buckingham Vein; all four holes intersected quartz
vein material indicating an along -strike extension of 150 m from the 2019 dr illing for a total known
strike length of over 200 m for the vein. Three of the drill holes intersected gold mineralization in the
quartz vein: 33.50 g/t Au over 1.29 m in BUCK-018, 1.40 g/t Au over 2.75 m including 2.90 g/t Au over
1.25 m in BUCK- 019 and 6.56 g/t Au over 2.18 m in BUCK- 020. BUCK-021 intersected quartz vein
material over 1.08 m core length approximately 25 m vertically below the gold -bearing quartz vein
intersection in BUCK-020; the BUCK-021 yielded no significant gold, however.
BUCK-022 and -022b intersected gold-bearing quartz vein at approximately 12 m vertically below the
surface. Core recovery was poor in BUCK-022 yielding 12.50 g/t Au over an estimated 1.5m core length,
but a re -drill of the top section of the hole yielded 37.70 g/t Au over 1.50 m in BUCK -022b. Also
intersected deep down the hole in BUCK-022 were zones of altered volcaniclastic rock with thin quartz
veinlets yielding 1.44 g/t Au over 10.03 m starting at 44m downhole, 6.26 g/t Au over 1.46 m starting
at 60.16 m downhole and 0.32 g/t Au over 19.32 m starting at 92.12 m. Similar zones of mineralization
were intersected in BUCK-023: 0.57 g/t Au over 21.72 m starting at 24.42 m downhole and 0.77 g/t Au
over 9.72 m starting at 65.71 m. BUCK -021 was drilled underneath a gold in soil anomaly west of the
vein and did not intersect any significant mineralization.
A table with significant intersections from all drill holes at the Buckingham Vein and surrounding zones
of disseminated mineralization in the larger Buckingham Main Zone is presented in Table 2.
Gold in Virginia
The gold-bearing system at the Buckingham Project is hosted within a package of likely late Precambrian
or early Cambrian-age sediments, including greywackes with minor quartz-arenites (phyllite, schist and
quartzites), within the Appalachian orogenic belt, hosting past producing mines, current gold mines and
advanced gold exploration plays in a belt from Georgia, the Carolinas, Virginia, Nova Scotia and through
to Newfoundland. This region is the site of the historically prolific Virginia Gold-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 OceanaGold’s Haile Mine located in Sout h Carolina with commercial production
commencing in 2017 and slated to produce up to 150,000 ounces of gold per year.
Virginia Gold-Pyrite Belt Brownfield Exploration
In addition to the 4,953 acres surrounding the Buckingham vein, Aston Bay has exploration agreements
in place for 4,399 acres of private land surrounding several historical gold mine workings and other
prospective areas in Virginia. A prospecting program, including surface rock and soil sampling, has been
completed on parcels of land located over and adjacent to two historic past-producing in the area, with
results from 194 soil and rock samples pending. Continued exploration in these and other brownfields
areas is planned throughout the summer and fall.
Samples from the Company’s 2020 Buckingham drill program were shipped to the ALS Laboratory in
Vancouver, BC for analysis. A secure chain of custody was maintained, and the program included a
comprehensive QAQC program, which did not identify any preparation or analytical issues
Figure 1: Plan map with drill hole locations and final results for 2020 Phase 2 drilling, Buckingham Gold Project, Virginia.
Select significant assay intervals from previous drill programs noted. Local grid in metres.
Figure 2: Longitudinal cross section with significant gold intercepts, Buckingham Gold Project, Virginia. 2020 . Final Phase 2 drill
intercepts in white boxes; previous drill intercepts in blue italics. View looking northeast.
Table 2. Buckingham Project Drilling Summary with Significant Gold Intercepts.
From To Interval Estimated Au
Drill Hole (m) (m) Length True Width (g/t) Target
(m) (m)*
WAR16-004** 17.47 19.14 1.67 1.34 0.90 vein
WAR16-005** 22.00 24.07 2.07 1.66 24.29 vein
WAR16-006** 46.48 48.46 1.98 1.58 17.13 vein
BUCK19-001 36.40 38.43 2.03 1.62 35.61 vein
BUCK19-002 89.50 122.50 33.00 26.35 0.36 vein
including 102.00 103.55 1.55 1.24 3.36 vein
BUCK19-003 23.20 26.50 3.30 2.64 20.44 vein
and 30.90 31.40 0.50 0.40 34.25 vein
BUCK19-004 55.73 59.30 3.57 2.85 24.73 vein
including 56.51 57.90 1.39 1.11 62.51 vein
BUCK19-005 56.73 74.80 18.07 14.43 2.16 disseminated zone
including 56.73 62.50 5.77 4.61 5.46 disseminated zone
including 56.73 58.30 1.57 1.25 17.45 disseminated zone
and 86.28 108.50 22.22 17.75 1.90 disseminated zone
including 95.00 101.50 6.50 5.19 5.19 disseminated zone
including 95.00 96.50 1.50 1.20 19.30 disseminated zone
BUCK19-006 112.70 114.57 1.87 1.49 0.95 vein
BUCK20-007 47.00 50.09 3.09 2.47 1.08 disseminated zone
and 68.74 72.00 3.16 2.53 1.11 disseminated zone
BUCK20-7B 64.78 117.44 52.66 42.18 0.37 disseminated zone
including 110.35 116.00 5.65 4.52 1.30 disseminated zone
BUCK20-008 74.94 105.72 30.78 24.62 0.24 disseminated zone
including 76.50 78.00 1.50 1.20 2.23 disseminated zone
BUCK20-009 20.50 32.00 11.50 9.20 1.00 disseminated zone
and 62.29 85.02 22.73 18.18 0.40 disseminated zone
including 68.00 70.00 2.00 1.60 2.09 disseminated zone
BUCK20-010 10.00 19.00 9.00 7.20 1.01 disseminated zone
and 51.35 52.29 0.94 0.75 1.58 disseminated zone
BUCK20-011 no significant intersection disseminated zone
BUCK20-012 no significant intersection disseminated zone
BUCK20-013 no significant intersection disseminated zone
BUCK20-014 44.71 51.00 6.29 5.03 5.81 vein
including 45.43 46.35 0.92 0.74 29.90 vein
BUCK20-015 44.60 47.00 2.40 1.92 4.47 vein
and 53.00 54.40 1.40 1.12 19.25 vein
BUCK20-016 95.70 96.76 1.06 0.85 14.65 vein
BUCK20-017 no significant intersection disseminated zone
BUCK20-018 35.31 36.60 1.29 1.03 33.50 vein
BUCK20-019 34.50 37.25 2.75 2.20 1.40 vein
including 34.50 35.75 1.25 1.00 2.90 vein
BUCK20-020 38.10 40.28 2.18 1.74 6.56 vein
including 38.53 40.28 1.75 1.40 8.07 vein
including 39.11 40.28 1.17 0.94 10.68 vein
BUCK20-021 no significant intersection vein
BUCK20-022 14.00 15.50 1.50 1.20 12.50 vein
and 44.00 54.03 10.03 8.02 1.44 disseminated zone
and 60.16 61.62 1.46 1.17 6.26 disseminated zone
including 61.22 61.62 0.40 0.32 21.90 disseminated zone/vein
and 72.80 92.12 19.32 15.46 0.32 disseminated zone
and 128.21 130.72 2.51 2.01 1.53 disseminated zone
BUCK20-022b 15.50 17.00 1.50 1.20 37.70 vein
BUCK20-023 24.42 46.14 21.72 17.38 0.57 disseminated zone
including 29.90 43.63 13.73 10.98 0.76 disseminated zone
and 51.14 52.50 1.36 1.09 1.59 disseminated zone
and 65.71 75.43 9.72 7.78 0.77 disseminated zone
*assuming a 72° dip on the quartz vein, the true width is 80%
**three holes drilled by a previous operator at Buckingham Main Zone in 2016
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
Aston Bay is a publicly traded mineral exploration company exploring for gold and base metal deposits
in Virginia, USA, and Nunavut, Canada. The Company is led by CEO Thomas Ullrich with exploration in
Virginia directed by 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 acquired the exclusive rights to an integrated dataset over certain prospective private
lands and has signed agreements with timber and land companies which grants the company the option
to lease the mineral rights to 11,065 acres of land located in central Virginia. These lands are located
within a gold -copper-lead-zinc mineralized belt prospective for Carolina slate belt gold deposits and
Virginia gold-pyrite belt deposits, as well as sedimentary VMS, exhalative (SEDEX) and Broken Hill (BHT)
type base metal 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 also 100% owner of the 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.