Aston Bay Holdings Ltd. (TSX-V: BAY; FRA: 6AY) ends the forced break caused by Covid-19. The company has received regulatory approval to resume drilling on the Buckingham Gold Project in Central Virginia, United States.
In today’s announcement, the company announced that it would start drilling again on June 15, 2020. In addition, Aston Bay announced that all core samples from the initial phase of the ongoing drill program (March 2020) were being sent to the laboratory for analysis. The results are expected in the coming weeks. After the company raised an additional $ 600,000 (at $ 0.06) in fresh capital just a week ago (on June 4), Aston Bay is adequately funded to complete the remaining 800 meters of the current drilling program and drill additional holes .
A total of 1,218m was drilled in ten diamond drill holes in the Buckingham Main zone in March 2020 before the current program was suspended due to the limitations of the Covid 19 virus (see Aston Bay press release dated March 24, 2020). Logging of the core confirmed that drilling in 2020 intersected veins and alterations similar to those encountered in the zone in 2019, intersecting core lengths of up to 35.6 g / t gold over 2 , 03m included and 24.7 g / t gold over 3.57m in gold-containing quartz veins as well as 2.2 g / t gold over 18.1m and 1.9 g / t gold over 22.2m in adjacent but separate serizite quartz -Pyrite alteration zones (see Aston Bay press release dated June 5, 2019).
Aston Bay’s stock last traded at $ 0.09, which equates to a market value of around $ 13 million. Behind Aston Bay is successful geologist Don Taylor, whose name is closely linked to the development and successful sale of Arizona Mining for $ 1.3 billion. Aston Bay inherited the gold assets in Virginia from Don Taylor’s private company Jack’s Fork Exploration when Aston Bay completely took over Jack’s Fork. Don Taylor oversees exploration in Virginia.
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