Aston Bay Holdings Ltd.
Aston Bay Holdings is a mineral exploration company exploring for large, high-grade, sediment-hosted copper and zinc deposits in Nunavut, a mining-friendly Canadian jurisdiction. Aston Bay is 100-per-cent owner of the 1,024,345-acre (414,537-hectare) Aston Bay property located on western Somerset Island, Nunavut. The Aston Bay property hosts the Storm Copper Project and the Seal Zinc Prospect, with historical drilling confirming the presence of sediment-hosted copper and zinc mineralization.
The Company is led by Chief Executive Officer Thomas Ullrich with exploration directed by Chief Geologist Dr. David Broughton, award-winning co-discover of Kamoa-Kakula and Flatreef.
Major Shareholders (as of Sep 1, 2017)
Aston Bay Property, Nunavut, Canada
The Aston Bay Property located on western Somerset Island, Nunavut, which neighbours Teck's profitable past-producing Polaris (Pb-Zn) Mine just 200km to the north. The property comprises 12 prospecting permits and 133 contiguous mineral claims, covering an area of approximately 1,024,345 acres (414,537 hectares).
The Aston Bay property hosts the Storm Copper Project and the Seal Zinc Prospect, with historical drilling confirming the presence of sediment-hosted copper and zinc mineralization. The property has good access to shipping lanes, and the landscape provides favorable conditions for development of roads and a protected deep-water port. Exploration is supported through excellent infrastructure in the nearby hamlet of Resolute Bay.
Why Copper and Zinc?
In August 2017, Aston Bay announced that the Company has commenced its 2017 field season at the Storm and Seal Properties on Somerset Island, Nunavut. The 2017 exploration program is ongoing and comprises a two-week field exploration program conducted in July 2017 and a property-wide geophysical program that is currently underway.
The field exploration program commenced on July 9th, 2017, comprising a surface geological reconnaissance program and core review led by Aston Bay's Chief Geologist Dr. David Broughton. While on site, efforts were also made to improve the camp facilities in preparation for a planned drill program in 2018.
"The field review, which included visits to all of the important surface zones and examination of selected cores, reconfirmed the project's potential to host blind stratiform sediment-hosted copper and zinc deposits," said Dr. Broughton.
Management and Directors
Thomas Ullrich, Chief Executive Officer, Director
Over 20 years' experience in mineral exploration and geoscience.
Chief Geologist, North America for Antofagasta Minerals plc from 2011 to 2016, investigated the region's copper potential through extensive property evaluations and management of drill programs in Alaska and Canada.
Joined the Aston Bay team in Feb 2016 as Chief Operating Officer and Vice-President Exploration and in November 2016 became Chief Executive Officer.
Dr. David Broughton, Chief Geologist, Storm / Seal Projects
Acknowledged expert in sediment-hosted copper deposits with over 30 years' experience in mineral exploration.
Co-awarded PDAC's 2015 Thayer Lindsley Award for International Mineral Discovery Kamoa-Kakula and Flatreef, and AME BC's 2016 Colin Spence Award for Excellence in Global Mineral Exploration.
Geology Manager for Cyprus Amax's Kansanshi pre-feasibility project, now Africa's largest copper mine, and part of AMIRA P544's research team focused on the Zambian Copperbelt.
From 2008 to 2016, he was Executive Vice President Exploration for Ivanplats, now Ivanhoe Mines.
Michael Dufresne, P.Geo., Consultant, Primary Geologist, Director
President of Apex Geoscience
Over 25 years of professional experience in all aspects of project generation, geological interpretation and project management.
Dwight Walker, CPA, CGA, Chief Financial Officer
over 30 years experience in public company finance and administration
Has been the chief financial officer of three public companies.
Chris Livingstone, P.Geo., Consulting Field Geologist
Over 6 years of experience in mineral exploration performing a broad range of geological consulting services.
Sofia Harquail, M.A., CPIR, Investor Relations and Corporate Development
Has experience in both the private and public sectors of the mining industry
Over the last five years she has worked as a consultant for the Prospectors and Developers Association of Canada and for Red Cloud Klondike Strike Inc.
Clifford Boychuk, Independent Director
Currently President of a privately held exploration diamond core drilling company.
Jan-Erik Back, Independent Director
Currently Head of Commodities Investments for BTG Pactual Commodities.
Ian McPherson, Independent Director
Most recently as the VP Communications for West Melville Metals Inc.
Please refer to Aston Bay Holdings' website www.astonbayholdings.com for complete biographies.
On November 8, 2018, Aston Bay Holdings Ltd. announced the completion of its previously announced transaction to acquire all of the issued and outstanding stock of Jack's Fork Exploration, Inc.
On October 23, 2018, Aston Bay Holdings Ltd. has released the results of its 3,135-metre, nine-hole 2018 summer exploration drilling program at its Aston Bay property located on Somerset Island, Nunavut.
Significant results within the 44 m copper mineralized zone include:
On August 30, 2018, Aston Bay Holdings Ltd. announced that it has completed its 2018 summer exploration drilling program at its Aston Bay property located on Somerset Island, Nunavut. A total of 3,135 metres of diamond drilling were completed in nine holes, targeting copper and zinc mineralization in the vicinity of both the Storm copper prospect and Seal zinc deposit.
On August 21, 2018, Aston Bay Holdings Ltd. announced that it has entered into a definitive merger agreement dated Aug. 20, 2018, with private company Jack's Fork Exploration Inc. (JFE), pursuant to which Aston Bay has agreed to acquire all of the issued and outstanding stock of JFE.
On August 1, 2018, Aston Bay Holdings Ltd. has released additional results from interpretation of the 2017 high-resolution airborne gravity gradiometry survey over its 100-per-cent-owned Aston Bay property. Aston announced additional zinc targets at Seal North. The Company plans to begin drilling targets in the Seal area in August.
On June 21, 2018, Aston Bay Holdings Ltd. has released additional results of targeting at its 100-per-cent-owned Aston Bay property. Based on modelling and inversion of the greater-than-15,000-line-kilometre airborne gravity gradiometry (AGG) survey flown in 2017, and integration with existing VTEM (versatile time domain electromagnetic), geochemical and geological data sets, the Company has generated multiple priority drill targets at the Storm copper prospect for testing during the summer drill program.
On May 31, 2018, Aston Bay Holdings Ltd. has released the results of 2018 drill target generation from its 2017 high-resolution airborne gravity gradiometry survey over the Seal zinc deposit and prospect. Several significant untested anomalies were identified adjacent to and along strike from the Seal deposit, and target refinement is continuing in advance of the planned summer 2018 drill campaign. Significant gravity anomalies spatially associated with high-grade copper mineralization were also identified in the vicinity of the Storm copper prospect and along a mineralized trend extending 80 kilometres to the south.
On January 17, 2018, Aston Bay Holdings Ltd. announced that it has filed on SEDAR of an initial inferred mineral resource estimate for its 100-per-cent-owned Seal zinc deposit located on the Aston Bay property on Somerset Island, Nunavut.
On December 29, 2017, Aston Bay Holdings Ltd. announced that it has closed the first tranche of the non-brokered private placement, which was previously announced on Dec. 12, 2017. The Company has issued, subject to final approval of the exchange, 3,975,000 flow-through shares at a price of 16 cents per FT share, for aggregate gross proceeds of $636,000.
On December 12, 2017, Aston Bay Holdings Ltd. announced that it will conduct a non-brokered private placement, subject to the approval of the TSX Venture Exchange, for aggregate gross proceeds of up to $4-million. The offering will consist of non-flow-through units at a price of 15 cents per unit, and flow-through shares at a price of 16 cents per FT share. The Company intends to close a first tranche of the offering during the month of December, 2017.
On December 11, 2017, Aston Bay Holdings Ltd. announced it has appointed Alan King to the Company's advisory board. Mr. King is a seasoned exploration geophysicist, knowledgeable in base metal exploration in sedimentary rocks.
On November 30, 2017, Aston Bay Holdings Ltd. announced the initial processed data from the Falcon Plus airborne gravity gradiometry survey on its Aston Bay property on Somerset Island, Nunavut.
Key areas covered by the survey include the Storm Copper prospect and Seal Zinc prospect in the northern block, and the Typhoon Zinc prospect and nearby target areas in the south. All three areas returned strong gravity responses that will be evaluated in detail by the Company’s geological and geophysical team prior to selection of diamond drill targets for the planned 2018 summer field program.
On October 12, 2017, Aston Bay Holdings Ltd. announced that it has engaged Integral Wealth Securities Ltd. to provide market-making services to the Company for a 12-month term, with a one-time right by the Company to terminate the engagement after the first three months. After 12 months, the agreement may be terminated by the Company on 30 days' written notice.