Aston Bay Holdings Ltd V.BAY

Alternate Symbol(s): ATBHF

Metals & Mining Gold

Aston Bay Holdings Ltd. is a Canada-based mineral exploration company exploring high-grade critical and precious metal deposits. It is engaged in exploring the Storm Copper Property and Cu-Ag-Zn-Co Epworth Property in Nunavut, and the high-grade Buckingham Gold Vein in central Virginia. It is also in advanced stages of negotiation on other lands with high-grade critical metals potential in North America. The Nunavut property is located 112 km south of the community of Resolute Bay, Nunavut on western Somerset Island. The property is adjacent to tidewater on Aston Bay and comprises 12 prospecting permits and 118 contiguous mineral claims, which comprises of Storm Copper and Seal Zinc, covering an area of approximately 541,796 acres. Under Virginia property, it focuses on exploring two targets in Virginia: high-grade mesothermal gold vein mineralization along strike of the Buckingham Gold Vein and zinc-copper SEDEX-style mineralization in a newly identified base metals/polymetallic belt.

TSXV:BAY - Post by User

Aston Bay Holdings Ltd > 9 years for option deal

<< Previous

Bullboard Posts

Next >>

Post by DarylTheFrogon Dec 02, 2022 11:33am

119 Views

Post# 35146498

9 years for option deal

AW has to fulfill and spend the 10 million..I mean they can poke holes up there till 2030 and still be the operator.......Its actually funny Go Bay go..right

Under the terms of the Option Agreement, American West can earn an 80% undivided interest in the Storm Project by spending a minimum of C$10 million on qualifying exploration expenditures (“Expenditures”) over a period of up to nine years.
American West will make a cash payment of C$500,000 to Aston Bay on closing under the Option Agreement and grant of the Option. In addition, in order to exercise the Option, American West must incur not less than C$2 million in Expenditures during the first two consecutive field seasons (2021 and 2022 if closing occurs on or before July 31, 2021 and 2022 and 2023 if closing occurs after July 31, 2021) (the “First Commitment”) and not less than C$8 million in Expenditures during the subsequent earn-in period, which is the seven consecutive field seasons after satisfaction of the First Commitment.