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Aston Bay Holdings Ltd.
Summary
| Project: | Storm | |
|---|---|---|
| Deposit: | Seal | |
| Location: | Canada | |
| Commodities: | Silver-Zinc | |
| Date: | 12/6/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 6-12-2017: Aston Bay Holdings Ltd. announces a Resource Estimation report for its Seal deposit at the Storm project. Initial Mineral Resource for project. December 6th, 2017 - Toronto, ON – Aston Bay Holdings Ltd. (“Aston Bay” or the “Company”) (BAY:TSXV) | |
| Resources: | (Resource, Inf.): 1.006Mt @ 10.24% Zn, 46.5g/t Ag at Seal | |
| CP/QP: | [Resources]: Michael Dufrense (Internal) | |
| ABSTRACT: | December 6th, 2017 - Toronto, ON – Aston Bay Holdings Ltd. (“Aston Bay” or the “Company”) (BAY:TSXV) is pleased to announce an initial Inferred Mineral Resource Estimate for its Seal zinc deposit located on its 100% owned, >414,00 hectare Aston Bay property, Somerset Island, Nunavut. The deposit, which is located ~200m from tidewater, is a stratabound body hosted in sandy dolostone and sandstone within a thick section of Paleozoic dolostones, and was discovered by Cominco Ltd (now Teck Ltd.) in the mid 1990s. The Aston Bay property also hosts the high-grade Storm copper prospects approximately 30 km east of Seal. The Seal zinc deposit is estimated to contain 1.006 million tonnes at a grade of 10.24% zinc and 46.5 grams per tonne silver, using a cutoff of 4.0% zinc equivalent. The estimate is based on diamond drilling conducted by Cominco in 1995-96 and Noranda in 2001, and was prepared by P&E Mining Consultants Inc. (“P&E”) in accordance with Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). Known mineralization has a thickness of up to 20 m, and extends for over 400m along strike and 50 to 100m down-dip, and is partially fault-bound. Seal is interpreted to be a Mississippi Valley–type (MVT”) deposit, with geological similarities to the Polaris deposit located to the north in the same Paleozoic dolostone succession. A large hydrothermal “pseudobreccia” alteration zone in the footwall of the deposit contains minor zinc mineralization and probably represents the feeder zone. MVT deposits are known to occur in clusters and Aston Bay believes there is exploration potential along strike for discovery of additional mineralization. | |
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