Wednesday, March 14, 2018 Derek Macpherson


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In this edition of RCKS Charts, Keith has evaluated Bunker Hill Mining Corp. (CSE:BNKR), Otis Gold Corp. (TSXV:OOO), Aston Bay Holdings Ltd. (TSXV:BAY), Novo Resources Corp. (TSXV:NVO) and Mawson Resources Ltd. (TSX:MAW). More names are recovering from the recent market pressure. That pressure may not be completely resolved yet, but positive signs are surfacing offering leadership to the many names on our ‘watch list.’ Below are three names showing positive signs of recovery and updates on two previously highlighted names which continue to act well.  read more

Tuesday, March 06, 2018 Derek Macpherson

Aston Bay: Game Changing Discovery Potential in a Premier Jurisdiction

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Aston Bay Holdings Ltd. (TSXV:BAY) is a C$11.5 million market cap company run by an impressive list of geologists who have invested their own money in the company. This is a base metal exploration company in Northern Canada that many small cap resource investors have looked at before because of the projects location and early high-grade hits. However, the company has materially changed over the last year, and warrants a fresh look. In our view, as the company prepares for this summer's drilling campaign, it presents an attractive risk-reward scenario for investors. read more

Wednesday, December 06, 2017 Derek Macpherson

BAY Reports Initial Resource for Seal Zinc

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Aston Bay Holdings Ltd (TSXV:BAY) reported an initial inferred mineral resource estimate of 1.006Mt grading 10.24% Zn and 46.5 g/t Ag or 11.44% ZnEq (103kt Zn & 1,505koz Ag, 4.0% ZnEq cut-off) for its Seal Zinc deposit on its Aston Bay property on Somerset Island, Nunavut. The estimate is based on previous work completed by Teck Resources Ltd. (formerly Cominco Ltd. - 1995-96) and Noranda (2001). Seal Zinc is interpreted to be a Mississippi Valley-type (MVT) deposit, with known mineralization over a 400m strike length and extends 50-100m down-dip. The company believes exploration potential exists along strike, due to the clustered nature of MVT deposits. Although early days, the report suggests the mineralization could support underground mining. Going into 2018, the company is planning to analyze the recent Falcon Plus airborne gravity gradiometry survey data to identify and prioritize drill targets, which will be an important next step to provide more insight on the properties potential. read more

Thursday, November 30, 2017 Derek Macpherson

BAY Identifies Drill Targets for 2018; Seal Zinc Initial Resource Estimate Expected Shortly

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Aston Bay Holdings Ltd (TSXV:BAY) has received initial data from the Falcon Plus Airborne Gravity Gradiometry survey, designed to highlight potential targets from its Aston Bay property on Somerset Island, Nunavut. The results, which returned strong gravity responses from the Storm Copper, Seal Zinc, and Typhoon Zinc including other nearby targets in the south, will be analyzed to determine drill targets for the 2018 summer field program (Figure 1). Initial results are promising, as survey anomalies extend beyond current exploration which could support the possibility of additional target discovery. Notably, the company is working on an initial resource estimate for the Seal Zinc prospect which is expected to be released shortly, the prospect had been previously drilled by Teck Resources Ltd. (formerly Cominco Ltd.). Following the initial resource for Seal Zinc, upcoming drilling in 2018 will be an important next step to provide more insight on the properties opportunity, and specific targets.  read more

Tuesday, August 08, 2017 Derek Macpherson

BAY Begins Exploration, Plans to Define 2018 Targets

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Aston Bay Holdings Ltd (TSXV:BAY) has begun the 2017 exploration program for its Storm and Seal properties on Somerset Island, Nunavut. A property-wide geophysical program is underway for August into September which includes 18,000 line km flown with 200m line spacings. In July, a two-week field exploration program was completed as a part of the 2017 program. Results from this year’s exploration work will define targets for future drilling in the summer of 2018. We expect these results to be a near-term catalyst for the company and should help provide more insight on the properties opportunity. read more

Tuesday, January 24, 2017 Derek Macpherson

Bay Reports Soil Sampling Results; Looks to Future

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Aston Bay (TSXV:BAY) announced it has received complete geochemical results from its summer soil sampling program at its Storm property in Nunavut. The sampling program covered an area of 120 km North-South and 20-40 km East-West (Figure 1) on the property, collecting 2,005 samples in total. Results supported the presence of previously known copper in soil anomalies in addition to identifying new areas hosting copper and zinc concentrations. The company will use these results together with results from its 2016 drill program to plan future exploration programs. With the recent termination of the BHP’s option agreement we look forward to the company’s updated plan to advance Storm in 2017. read more

Saturday, January 21, 2017 Derek Macpherson

BAY Back in the Driver's Seat After Partner Walks

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Aston Bay (TSXV:BAY) announced BHP Billiton’s (ASX:BHP) decision to terminate the option agreement for the Storm Copper project, signed in May 2016. Although the market’s reaction was negative, down 34% from C$0.235 to C$0.155; in our view this could turn out to be a positive event for the company. While we do not know why BHP decided to terminate its option, the action reflects negatively on the Strom Copper project. It is also worth noting that this is the second large mining company to terminate an option agreement. Antofagasta terminated its option in January 2015, for budgetary reasons. However, Aston Bay once again has 100% interest and control over the project and is in a position to uncover Storm’s value. It is worth noting that the company has approximately two years of G&A expenses in the treasury, allowing it too carefully decide what the next steps should be. In our opinion, the project remains attractive and the market may have overreacted to BHP’s decision to terminate its option. read more

Friday, October 07, 2016 Derek Macpherson

Aston Bay's Initial Drill Results Encouraging

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Aston Bay (TSXV:BAY) has provided the first drill results from its 2016 summer field program at its Storm Copper project on Somerset Island in Nunavut. The results were highlighted by 16m at 3.07% Cu and 12.26 g/t Ag (STOR1601D). These are only the first 3 holes from this summer’s 12 hole program (1,951m). The company also completed additional soil sampling over a larger area (120km by 20-40km) collecting 2,005 soil samples and completed additional geophysical surveys, including borehole EM. In our view these results are positive and have advanced the project. Consequently, we expect that BHP Billiton Ltd. (BHP) to increase spending in the 2017 field season.  read more


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