Vancouver, British Columbia – September 1, 2015 – Aston Bay Holdings Ltd. (TSX-V: BAY) (“Aston Bay” or the “Company”) today announced that it has successfully completed the 2015 summer exploration program at the Storm Property on Somerset Island, Nunavut (“Storm”).
Crews collected gravity data over four targets during the eleven-day field program at Storm. The purpose of this short program was two-fold:
- To confirm that the known copper mineralization at Storm has an identifiable gravity response by collecting data along principal profiles over two of the drill-confirmed zones: 3500N and 4100N.
- To define potential drill targets for the 2016 field season by conducting gravity surveys over two high-priority exploration targets: SE Anomaly and Eastern Extension.
“We are very pleased with what was accomplished in a short time frame with a limited budget,” said Benjamin J. Cox, President and CEO of Aston Bay. “The program was highly productive and early indications suggest that gravity surveys will be an effective and important exploration tool at Storm.”
A total of 939 primary and 70 QA/QC ground gravity readings were collected on the property over the course of the field program. Preliminary results were reviewed in the field on a daily basis and used to guide the remaining program. Final results from the surveys are expected in the next few weeks and will be made available once received.
Gravity readings were recorded along three 100m-spaced orientation lines at both the 3500N and 4100N zones. These principal profiles were designed to test the gravity response over drill-confirmed zones of copper mineralization as well as the Central Graben, a structural system considered to be important in the process of mineralization at Storm.
Gravity data were also collected over the SE Anomaly and Eastern Extension target to enhance target definition for the 2016 field season. The SE Anomaly is a 4.5 by 2 kilometre conductivity anomaly defined by the 2011 VTEM airborne survey. A pre-existing ground gravity survey conducted in 1999 shows a coincident gravity response over the VTEM anomaly (see news release dated May 28, 2015 – link to release). The Eastern Extension target is located along the Central Graben structural system and is characterized by coincident conductivity and geochemical anomalies.
The content of this news release and the technical information that forms the basis for this disclosure has been prepared under the supervision of Michael Dufresne, M.Sc., P.Geol., who is the Qualified Person as defined by NI 43-101 and a consultant to Aston Bay.
About Aston Bay Holdings
Aston Bay Holdings Ltd. (TSX-V: BAY) is a publicly traded mineral exploration company focused on the 641,415-acre (259,570 hectares) Aston Bay Property located on northwest Somerset Island, Nunavut. The Property hosts the Storm Copper and Seal Zinc prospects, where historic drilling has confirmed the presence of sediment hosted copper and zinc mineralization. Aston Bay holds the right to earn or buy up to a 100% undivided interest in the Storm Property from Commander Resources Ltd. (TSX-V: CMD).
On behalf of the Board of Directors,
Benjamin Cox, Chief Executive Officer
Telephone: (360) 262-6969
For further information about Aston Bay Holdings Ltd. or this news release, please visit our website at www.astonbayholdings.com.
Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements that may be deemed “forward-looking statements”. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. In the event that management’s beliefs, estimates or opinions, or other factors, should change, the Company undertakes no obligation to update these forward-looking statements, except as required by law.
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