Aston Bay Holdings Stock Price, News & Analysis

Aston Bay Holdings Ltd. (OTCQB:ATBHF) announced a $2,000,000 non-brokered private placement to fund further exploration of its Virginia projects, including Mountain Base Metals and Buckingham Gold. Each unit is priced at $0.06 and includes a warrant exercisable at $0.12 for two years. The company also plans to extend the expiry of existing warrants. Proceeds will be allocated mainly to exploration efforts, with $1,300,000 dedicated to projects and $700,000 for working capital. The offering is subject to TSX approval and existing shareholder exemptions apply.

Aston Bay Holdings (OTCQB:ATBHF) has entered into an exploration agreement for an additional 89 acres adjacent to its Mountain Base Metals Project in Virginia, expanding the total area to over 2,072 acres. The ongoing diamond drill program has been increased from 1,500 meters to 2,500 meters due to positive visual results. Initial drilling has intersected copper and zinc mineralization across all holes, suggesting potential for a significant SEDEX deposit model. The company continues to pursue further exploration agreements in the region.

Aston Bay Holdings (OTCQB:ATBHF) has initiated a 1,500 meter diamond drill program at its Mountain Base Metals Project in Virginia. The program targets several electromagnetic and magnetic anomalies identified in prior surveys, focusing on the TZ-3 anomaly, which is 2.2 km long and shows promising surface copper and zinc results. Historical drilling revealed mineralization with up to 1.12% Zn and 0.74% Pb. This drilling aims to explore deeper potential and confirm the existence of a significant base metal deposit.

Aston Bay Holdings Ltd. (OTCQB:ATBHF) announced a Letter Agreement for 1,982 acres of land in Central Virginia to explore base metals. This area, part of an underexplored belt, features key geological anomalies, including an untested 1.4-mile EM conductor and historic drilling results showing 1.12% Zn over 4.6 meters. The company plans a summer drill program targeting these mineralization opportunities. CEO Thomas Ullrich expressed excitement over the deal and the potential for significant discoveries.

Aston Bay Holdings Ltd. (OTCQB:ATBHF) has successfully closed a transaction with American West Metals Limited, granting American West an option to earn 80% interest in Aston Bay's high-grade Storm Copper Project and Seal Zinc Deposit located in Nunavut. Following a $500,000 closing payment, American West is required to spend a minimum of $10 million on exploration over up to nine years. This strategic partnership aligns with Aston Bay's exploration goals in Virginia and Nunavut.

Aston Bay Holdings has appointed Jessie Liu-Ernsting as an independent director to its Board, replacing the late Clifford Boychuk. Liu-Ernsting brings over 15 years of experience in mining, emphasizing capital projects, corporate strategy, and private equity. Previously with Canadian Nickel Company and Hudbay Minerals, her expertise is expected to bolster the board's capabilities. Additionally, Aston Bay has granted stock options for 3,500,000 shares at $0.05, aligning with its stock option plan. The company continues to explore gold and base metal deposits in Virginia and Nunavut.

Aston Bay Holdings Ltd. (OTCQB: ATBHF) has entered into an option agreement with American West Metals Limited to allow the latter to earn an 80% interest in the Storm Project located on Somerset Island, Nunavut. The agreement requires a total expenditure of C$10 million over up to nine years, including at least C$2 million within the first two field seasons. Aston Bay will receive a C$500,000 cash payment upon closing. The deal is pending shareholder and regulatory approvals, with closing expected by April 2021.

Aston Bay Holdings Ltd. announced significant assay results from its Phase 2 diamond drilling program at the Buckingham Gold Property in Central Virginia. Highlights include 37.70 g/t Au over 1.50 m from drill hole BUCK-022b and 6.56 g/t Au over 2.18 m from BUCK-020. The program involved seven drill holes totaling 803 m, building on a previous phase of 1,218 m. Future steps include an Induced Polarization geophysical program to explore further subsurface gold potential. Results from 194 soil and rock chip samples are also pending.