Vancouver, British Columbia - November
12, 2013 - Aston Bay Holdings Ltd.
(TSX-V: BAY) ("Aston Bay" or the "Company") today provided a
summary of historical drill results and technical data from the
Company's Seal Zinc prospect ("Seal Zinc" or "Seal") in the Nunavut
Territory.
The results
tabled below demonstrate a cohesive zone of strata-bound zinc and
silver mineralization located approximately 250 metres (m) from
tidewater. Drilling has confirmed that mineralization is present
over 450m of strike length and has a true thickness that varies
from approximately 10m to approximately 25m. Mineralization remains
open along strike and down dip within the host stratigraphic
unit.
"The drill
results from the Seal prospect and its proximity to tidewater
confirm the compelling nature of this project," says Bruce Counts,
Chief Operating Officer of Aston Bay Holdings Ltd. "Seal
compliments the Storm Copper prospect 20 kilometres (km) to the
east, and the Aston Bay team is eager to advance this prospect
towards a National Instrument 43-101-compliant resource and a
Preliminary Economic Assessment."
Aston Bay's
focus at Seal has been to acquire the data necessary to conduct a
Preliminary Economic Assessment (PEA) of the project as quickly as
possible. During the 2013 summer field program a principal engineer
from P&E Mining Consultants Inc. made a site visit to Seal Zinc
and collected representative samples of drill core. The historic
drill hole data will be combined with data collected in 2013, with
the goal of establishing a maiden NI 43-101-compliant Resource
Estimate in 2014, if supported by market conditions. In addition, a
200 kilograms (kg) sample of mineralized surface rock was collected
at Seal Zinc for the purpose of metallurgical testing.
"The Seal Zinc
prospect has the potential to be a small but valuable project,"
says Benjamin Cox, President and Chief Executive Officer of Aston
Bay Holdings Ltd. "Going forward, the work at Seal will be designed
to facilitate the evaluation of a range of small-scale development
alternatives, including scenarios where mineralized rock is shipped
directly to off-site processing facilities."
Click Image To View Full Size
Above: Aerial view of the Seal Zinc prospect,
showing an approximate outline of surface
mineralization.
For additional images showing
the Seal Zinc Prospect, please go to: http://tinyurl.com/ABSEALZINC
The drill
results from the Seal Zinc prospect presented in the table below
include data acquired from Teck Metals Ltd. through a Data License
Agreement on the Storm and Seal Projects (see Aston Bay news
release dated January 9, 2013), and were not previously publicly
available.
-----------------------------------------------------
|Hole |From (m)|To (m)|Length (m)|Zn (%)|Ag (g/t)|
|---------------------------------------------------|
|AB95-02 |51.80 |70.60 |18.80 |10.58 |28.7 |
|---------------------------------------------------|
|includes|52.40 |60.70 |8.30 |15.62 |36.5 |
|---------------------------------------------------|
|and |66.00 |70.60 |4.60 |13.83 |46.9 |
|---------------------------------------------------|
|AB95-03 |76.60 |98.70 |22.10 |6.62 |27.1 |
|---------------------------------------------------|
|includes|76.60 |81.00 |4.40 |11.26 |51.5 |
|---------------------------------------------------|
|and |90.50 |96.40 |5.90 |13.38 |48.6 |
|---------------------------------------------------|
|AB95-06 |101.50 |132.30|30.80 |5.11 |23.0 |
|---------------------------------------------------|
|includes|101.50 |106.40|4.90 |8.51 |26.3 |
|---------------------------------------------------|
|and |110.80 |119.20|8.40 |7.76 |32.6 |
|---------------------------------------------------|
|and |128.30 |132.30|4.00 |8.63 |57.5 |
|---------------------------------------------------|
|AB95-07 |118.80 |137.00|18.20 |3.33 |21.6 |
|---------------------------------------------------|
|includes|133.50 |137.00|3.50 |15.13 |91.9 |
|---------------------------------------------------|
|AB95-10 |137.00 |147.00|10.00 |1.40 |21.9 |
|---------------------------------------------------|
|AB95-11 |191.00 |206.00|15.00 |1.06 |25.6 |
|---------------------------------------------------|
|includes|204.00 |206.00|2.00 |4.55 |111.0 |
-----------------------------------------------------
Note: All drill intercepts reported are core length, and may not be
indicative of the true width of the mineralization.
The Seal Zinc
prospect is located approximately 250m inland on a small peninsula
at the northern end of Aston Bay. The mineralization outcrops on a
steep, southwest-facing slope as disseminated to massive sphalerite
hosted in pyritic sandstone.
Above left: Aerial view looking approximately
southeast into Aston Bay. The Seal Zinc prospect is located on the
southwest-facing (right-hand) slope at the base of the peninsula.
Above right: Aerial view of the Seal Zinc prospect, looking at the
southwest-facing slope.
The
mineralization at Seal is interpreted to be strata-bound, and is
hosted in a porous and permeable basal quartz arenite, with
interbeds of dolostone and sandy dolostone. Zinc sulphide
mineralization occurs primarily as coarse-grained, reddish-brown
blackjack sphalerite and less commonly as honey yellow, colloform
sphalerite. The mineralization is characterized by local to
complete replacement of the sandy dolostone interbeds, as well as
interstitial disseminations in the massive sandstone beds. The
known high-grade mineralization extends for 450m along strike, and
is approximately 50-100m in width and up to 12-14m in thickness,
containing 10-12% Zn and 35-40 g/t Ag.
Qualified Person
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 345,033 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.
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