Exploring for Gold in Virginia
Stock Code: TSX-V:BAY | OTCQB:ATBHF
Company Exposure: Gold | Copper | Zinc
Project Locations: USA | Canada
Aston Bay (TSX.V: BAY, OTCQB: ATBHF) is advancing a unique opportunity to expand upon proven high grade at-surface gold exposures in stable jurisdiction that has been untested with modern exploration techniques and mining methods. Virginia, along with the neighbouring Carolinas, is home to the first North American gold rush in 1799 and is a prolific past producing gold district with over 280 mines.The area, however, has seen little exploration since 1850 when the combination of the mania of the California gold rush, civil war and financial scandals collapsed the local gold mining industry. The subsequent invention of borehole drilling, advances in geochemistry, geophysics, mining methods, mine water pumping and metal extraction technologies provide for a compelling exploration opportunity in reexamining at-surface gold exposures for previously unrecognized extensions and halos, as well as to use these previously unavailable technologies to make new discoveries.
Virginia is a stable jurisdiction with year-round drilling where no permits are required to drill on private land. Aston Bay’s business model is to partner with timber companies: resource-friendly, ideal partners that own large tracts of land. Two agreements are in place covering over 11,000 acres of land and exploration is underway surrounding two past producers and one new discovery; the Buckingham Gold Property.
This discovery is part of a portfolio of properties recently acquired by Aston Bay in the purchase of (ex-Arizona Mining’s) Don Taylor’s private company; with the acquisition Don has joined Aston Bay as Technical Advisor to continue to direct exploration. The Buckingham Discovery is located just 200 miles from the Haile Gold Mine (~4 Moz Au, 150,000 oz/year, operated by OceanaGold), in coeval rocks between the Carolina Slate Belt trend and the Gold-Pyrite Belt of Central Virginia. Visible gold at Buckingham is present in quartz veins at surface with high grade gold intercepted in recent drilling (e.g., 35.61 g/t Au over 2.03m, 24.73 g/t Au over 3.57m incl. 62.51 g/t Au over 1.39m). The veins are open along strike (>200m) and at depth (>90m).
In addition to the new discovery, Aston Bay is also exploring areas around past producing near-surface gold mines with the modern exploration techniques. An example of a successful use of this strategy is Romarco Minerals’ discovery of significant mineralized halos and extensions at the Haile Mine.
• Significant geologic potential: Historic near-surface gold production and recent gold discovery
• Favourable jurisdiction: United States (safe and secure), private forestry lands (no permitting)
• Little explored since 1850: Opportunity to use modern exploration methods and a modern mining mindset to make new discoveries and expand historic mines – the “Romarco/Haile Play”
• Experienced team: Don Taylor and team directing exploration
• Microcap stock with upside exposure
• Exposure to base metals plays when market favourable