Aston Bay Holdings to Resume Drilling at Buckingham Gold Project, Virginia, USA
Aston Bay Holdings to Resume Drilling at Buckingham Gold
Project, Virginia, USA
TORONTO, ON / June 10, 2020 / Aston Bay Holdings Ltd. (TSXV:BAY)(OTCQB:ATBHF)
("Aston Bay" or the "Company") is pleased to announce that it will resume drilling at its
Buckingham Gold Property located in Central Virginia, USA, on June 15th, 2020. In addition, the
Company announces that all core samples from the initial (March 2020) phase of the current drill
program have been shipped to the laboratory for analysis, with results anticipated in the coming
weeks. Samples will be analyzed by standard fire assay techniques, which will include metallic
screen assaying of selected intervals with visible alteration and mineralization (including visible
gold). Funding is in place to complete the remaining ~800 metres (m) of the current drill
program and to conduct additional follow-up drilling.
A total of 1,218 m was drilled in ten diamond drill holes at the Buckingham Main Zone in March
2020 prior to the suspension of the current program due to Covid-19 virus restrictions (see
March 24, 2020 Aston Bay press release). Logging of the core confirmed that the 2020 drilling
has intersected veining and alteration similar to that encountered in the 2019 drilling of the zone,
which included core-length intercepts of up to 35.6 g/t Au over 2.03m and 24.7 g/t Au over
3.57m in gold-bearing quartz veins, as well as 2.2 g/t Au over 18.1m and 1.9 g/t Au over 22.2m
in adjacent but separate sericite-quartz-pyrite alteration zones (see June 5, 2019 Aston Bay
release).
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.
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,
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
(416) 456-3516
Sofia Harquail, IR and Corporate Development
(647) 821-1337
SOURCE: Aston Bay Holdings Ltd.