HIGHLIGHTS
Resource delineation program on track with multiple high-grade copper intervals confirmed by assays at the Cyclone and Chinook Deposits
Drilling continues around the clock with 100 Reverse Circulation (“RC”) drill holes and 13 diamond drill holes totaling over 15,500 metres (“m”) now completed at Storm
RC drilling has commenced at the under-explored Tempest Prospect, where high-grade copper and zinc have been mapped on surface over 4 kilometres (“km”) of strike
Cyclone Deposit:
- Drill hole SR24-11 has intersected:
- 19.8m* @ 1.2% copper (“Cu”), 3.0g/t silver (“Ag”) from 12.2m downhole, including,
- 4.6m @ 3.0% Cu, 7.0 g/t Ag from 21.3m downhole
- 3m @ 3.2% Cu, 8.5g/t Ag from 59.4m downhole
- 19.8m* @ 1.2% copper (“Cu”), 3.0g/t silver (“Ag”) from 12.2m downhole, including,
- Drill hole SR24-21 has intersected:
- 13.7m @ 2.1% Cu, 7.9g/t Ag from 67.1m downhole, including,
- 7.6m @ 3.2% Cu, 12.2g/t Ag from 70.1m downhole
- 13.7m @ 2.1% Cu, 7.9g/t Ag from 67.1m downhole, including,
- Drill hole SR24-09 is located outside of the boundary of known copper mineralization and has intersected:
- 15.2m @ 1.4% Cu, 2.4g/t Ag from 103.6m downhole, including,
- 6.1m @ 2.7% Cu, 2.7g/t Ag from 108.2m downhole
- 15.2m @ 1.4% Cu, 2.4g/t Ag from 103.6m downhole, including,
Chinook Deposit:
- Drill hole SR24-10 has intersected:
- 3.1m @ 1.3% Cu, 6.0g/t Ag from 38.1m downhole, including,
- 1.5m @ 2.3% Cu, 10.0g/t Ag from 38.1m downhole
- 1.5m @ 2.4% Cu, 3.0g/t Ag from 89.9m downhole
- 3.1m @ 1.3% Cu, 6.0g/t Ag from 38.1m downhole, including,
TORONTO, Ontario, August 15, 2024 – Aston Bay Holdings Ltd. (TSXV: BAY) (OTCQB: ATBHF) (“Aston Bay” or the “Company”) is pleased to provide an update on drilling activities at the Storm Copper Project (“Storm” or the “Project”) on Somerset Island, Nunavut. The studies and exploration program is being conducted by American West Metals Limited (“American West”), who is the operator of the Project. Aston Bay and American West have formed a 20/80 unincorporated joint venture in respect of the Storm Project property, with Aston Bay maintaining a free carried interest until a decision to mine upon completion of a bankable feasibility study.
Thomas Ullrich, Chief Executive Officer of Aston Bay, commented:
“It is encouraging once again to report excellent results from the ongoing drilling at Storm. The assays match the visual estimates previously reported by the on-site geologists, confirming excellent continuity of mineralization within the known zones as well as expanding those zones with step-out intercepts.
“The very large but little explored Central Graben holds considerable upside for potential new discoveries. The stratigraphic layer that hosts the copper mineralization outcropping at Storm is hidden beneath barren cover rock in the graben, and the faults that define the graben are the same plumbing system for the copper-bearing fluids that we believe cause the mineralization we see at the surface elsewhere. All the pieces are in place for potential additional mineralization, and it is all within reach of geophysics and the drill.”
“It is encouraging once again to report excellent results from the ongoing drilling at Storm. The assays match the visual estimates previously reported by the on-site geologists, confirming excellent continuity of mineralization within the known zones as well as expanding those zones with step-out intercepts.
“The very large but little explored Central Graben holds considerable upside for potential new discoveries. The stratigraphic layer that hosts the copper mineralization outcropping at Storm is hidden beneath barren cover rock in the graben, and the faults that define the graben are the same plumbing system for the copper-bearing fluids that we believe cause the mineralization we see at the surface elsewhere. All the pieces are in place for potential additional mineralization, and it is all within reach of geophysics and the drill.”