Vancouver, British Columbia – August 7, 2013 – Aston Bay Holdings Ltd. (TSX-V: BAY) (“Aston Bay” or the “Company”) is pleased to provide a summary of technical data licensed from Teck Metals Ltd. (“Teck”) in December 2012.
The licensing agreement (see the Company’s news release dated January 9, 2013) provides Aston Bay with access to data not available in the public domain. Data include complete results from historic soil sampling, airborne and ground geophysical surveys, as well as results from more than 15,000 metres (m) of drilling conducted at the Storm and Seal prospects. The data has now been compiled and verified by the Company’s consultants and is being integrated into the Company’s overall database.
“The licensing of data from Teck allows Aston Bay to advance the Storm Project more quickly and cost effectively”, says Benjamin Cox, President and CEO of Aston Bay. “It would have taken the Company years and millions of dollars to reproduce the data obtained in this transaction.”
“The data acquired from Teck will be invaluable in Aston Bay’s efforts to refine its understanding of the mineralization at the Storm and Seal prospects”, says Bruce Counts, Chief Operating Officer of Aston Bay. “Over the coming months, the Company will integrate the data acquired from Teck with the information collected this year. The 2014 exploration program will be designed to build upon the insights gained from the combined data.”
Between 1995 and 2001, 97 diamond drill holes were drilled at the Storm Property. The data acquired from Teck included drill results previously unavailable to the Company. These include collar locations, assays and drill logs for 14 holes at the Seal prospect, totalling 2,465m, and similar data for 18 holes at the Storm prospect, totalling 3,113m.
Between 1966 and 2001, extensive geochemical sampling was carried out in and around the current Storm Property. Aston Bay has now compiled data for a total of 7,477 conventional soil samples, 145 Mobile Metal Ion (MMI) soil samples, 1,728 stream samples and 360 rock samples. Of these, the geochemical data and locations for 1,875 soil samples, all MMI samples, 616 stream sample and 220 rock samples were unavailable prior to the acquisition of the Teck data. Previously unavailable data includes results from a soil grid covering the main Storm copper showings (1,401 samples), significant regional soil and stream sampling (1,090 samples) and regional rock sampling (220 samples).
Extensive geophysical work was completed at the Storm Property between 1994 and 2000, including four airborne surveys and 733 line-km of ground geophysics. Newly acquired and previously unavailable historic data from Teck includes results from 71 line-km of Horizontal Loop Electromagnetic (HLEM) surveys, 58 line-km of gravity surveys and 129 line-km of Induced Polarisation (IP) surveys at the Storm prospect. Also included are images from the 1999 Hyperspectral survey. The geophysical data obtained from Teck will be integrated with the Versatile Time Domain Electromagnetic (VTEM) data acquired in 2010.
Over the coming months, historic data will be integrated with the information collected during the 2013 field program to provide a more concise understanding of the mineralization at the Storm and Seal prospects. Select information will be released to the market as the data is interpreted and the Company grows its knowledge of the copper and zinc mineralized zones on the Storm Property.
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 250,000 acre Storm Property located on northwest Somerset Island, Nunavut. The property hosts the Storm Copper and Seal Zinc prospects. 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. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.