Aston Bay Further Expands Land Package and Extends Drill Program at its Mountain Copper-Zinc Project in Virginia, USA

Rhea-AI Summary

Aston Bay Holdings (OTCQB:ATBHF) has announced new exploration agreements with private landowners to lease additional mineral rights near its Mountain Copper-Zinc Project in Central Virginia. The total leased area has expanded to over 2,127 acres. Encouraging drilling results have led to an extension of the diamond drill program to 3,500 metres, up from the original 1,500m. Copper and zinc mineralization has been identified in all tested holes, revealing a significant SEDEX deposit potential. Assay results are pending.

Positive

• Expansion of mineral rights lease by over 2,127 acres increases project potential.
• Extension of diamond drill program to 3,500 metres indicates strong ongoing exploration interest.
• Identification of copper and zinc mineralization in all drilled holes suggests a promising SEDEX deposit.

Negative

• None.

TORONTO, ON / ACCESSWIRE / February 10, 2022 / Aston Bay Holdings Ltd. (TSXV:BAY) (OTCQB:ATBHF) ("Aston Bay" or the "Company") is pleased to announce that it has entered into exploration agreements with additional private landowners to lease the mineral rights for more key parcels of land adjacent to the Company's Mountain Copper-Zinc Project in Central Virginia. In addition, due to encouraging results the Company is once again extending the ongoing diamond drill program to a total of 3,500 metres (m). This is the second extension of the originally planned 1,500m program (see news release dated August 25, 2021 and news release dated November 12, 2021).

The newly signed exploration agreement increases the total area under lease at the Mountain Base Metals Project to over 2,127 acres (861 hectares). Negotiations for exploration agreements over other prospective parcels continue as the Company seeks to further expand the project area.

"We are pleased to partner with more private landowners in the area," stated Thomas Ullrich, CEO of Aston Bay, "and are excited to examine the tremendous copper-zinc potential in this area. We have drilled over 3,000 metres in eight holes to date, with copper and zinc mineralization observed in all holes. The drilling continues to expand the mineralized footprint of this SEDEX (sedimentary exhalative) discovery."

The mineralization intersected in the drilling comprises stacked zones of disseminated and semi-massive chalcopyrite and sphalerite, with pyrite and pyrrhotite, hosted within metamorphosed carbonate rocks. The style of mineralization suggests a SEDEX (sedimentary exhalative) deposit model, previously unrecognized in Central Virginia. Assay results are pending.

Qualified Person

As per National Instrument 43-101 Standards of Disclosure for Mineral Projects, Andrew Turner, P.Geol., a consultant to Aston Bay, is the Qualified Person for the Company and has prepared, validated and approved the technical and scientific content of this news release. The Company strictly adheres to CIM Best Practices Guidelines in conducting, documenting, and reporting its exploration activities.

About Aston Bay Holdings

Aston Bay is a publicly traded mineral exploration company exploring for base metals and gold deposits in Virginia, USA, and Nunavut, Canada. The Company is led by CEO Thomas Ullrich with exploration in Virginia directed by the Company's advisor, Don Taylor, the 2018 Thayer Lindsley Award winner for his discovery of the Taylor Pb-Zn-Ag Deposit in Arizona. The Company is currently drilling the Mountain Base Metals Project in Virginia, exploring the Buckingham Gold Project, also in Virginia, and is in advanced stages of negotiation on other lands in the area.

The Company is also 100% owner of the property Storm Project, which hosts the Storm Copper Project and the Seal Zinc Deposit and has been optioned to American West Metals Limited.

The Company's public disclosure documents are available on www.sedar.com.

For more information contact:

Thomas Ullrich, Chief Executive Officer
thomas.ullrich@astonbayholdings.com
416-456-3516

Salisha Ilyas, Investor Relations
salisha.ilyas@astonbayholdings.com
647-209-9200

SOURCE: Aston Bay Holdings Ltd

View source version on accesswire.com:
https://www.accesswire.com/688232/Aston-Bay-Further-Expands-Land-Package-and-Extends-Drill-Program-at-its-Mountain-Copper-Zinc-Project-in-Virginia-USA

FAQ

What is the recent announcement by Aston Bay Holdings regarding the Mountain Copper-Zinc Project?

Aston Bay Holdings announced new exploration agreements to lease additional mineral rights and extended the diamond drill program to 3,500 metres for the Mountain Copper-Zinc Project.

How much has Aston Bay expanded their leased area for the Mountain Copper-Zinc Project?

The leased area has expanded to over 2,127 acres as a result of new exploration agreements.

What mineralization has been found in the Mountain Copper-Zinc Project drilling?

Copper and zinc mineralization has been observed in all drilled holes.

What is the significance of the SEDEX deposit model in Aston Bay's exploration?

The SEDEX deposit model indicates potential for significant mineral resources, previously unrecognized in Central Virginia.

What are the next steps for Aston Bay Holdings following the press release?

Aston Bay Holdings will continue drilling and await assay results to determine the mineralization extent at the Mountain Copper-Zinc Project.