Vancouver, British Columbia – February 5, 2015 – Aston Bay Holdings Ltd. (TSX-V: BAY) (“Aston Bay” or the “Company”) today announced that it has extended the land package at the Storm Copper Project by acquiring six new Prospecting Permits (“Permits”), totaling approximately 319,760 acres (129,400 hectares).
The new Permits cover approximately 80 km of prospective strike length along the southern extension of the sedimentary formation which hosts the copper mineralization at Storm. The total strike length of rocks prospective for copper now exceeds 110 km with this acquisition. Chalcocite and malachite grab samples were collected over an area 100m in diameter at one location within the permit area (see map below) during a short prospecting trip conducted in 2014. Laboratory analysis of the grab samples from frost boils, which were discovered more than 30 km south of the drill-confirmed copper mineralization at Storm, yielded assays of up to 33.9% copper. The majority of the permits cover land outside the 2km Area of Mutual Interest (AMI) contemplated in the Storm Joint Venture Agreement with Commander Resources Ltd. (TSX-V: CMD).
“The acquisition of these permits strengthens the Company’s land position in a sedimentary basin fertile for the deposition of copper,” says Benjamin Cox, President and CEO of Aston Bay. ”The presence of chalcocite and malachite so far from the known mineralized zones suggests that copper mineralization may be widely spread.”
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. We seek Safe Harbor.