Aston Bay Holdings Corporate Update on Data Licensed in 2012
07 August 2013 - 11:03PM
Access Wire
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."
Drilling
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.
Geochemistry
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).
Geophysics
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.
Next Steps
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.
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