Aston Bay Announces Thick Intersections of Copper Mineralization in Initial Drillholes at Storm Project, Nunavut

26 July 2022

TORONTO, ON, July 25, 2022 – Aston Bay Holdings Ltd. (TSXV: BAY) (OTCQB: ATBHF) ("Aston Bay" or the "Company”) is pleased to announce the excellent visual results confirming the presence of copper mineralization for the first two drill holes completed at the Company’s high-grade Storm Copper Project (“Storm” or the “Project”) on Somerset Island, Nunavut. This is the maiden drilling program for American West Metals Limited (“American West”), who are the project operator, since entering the option agreement with Aston Bay in March 2021.

Highlights

  • Visual geological observations of the first two diamond drill holes at the high-grade Storm Copper Project indicate that both holes have intersected extensive copper sulfide mineralization near-surface;
  • ST22-01 has intersected 72.1metres (m) core length of mineralization including 23.74m core length of breccia and massive copper sulfides over multiple intervals;
  • ST22-02 has intersected 81.22m core length of mineralization including 22. core length of breccia and massive copper sulfides over multiple intervals;
  • Drilling at Storm continues with an additional 15-20 diamond drill holes planned to test priority high-grade copper targets, including a number of new electromagnetic (EM) conductors that have the potential to deliver new sulfide copper discoveries; and
  • Shallow high-grade copper mineralization at Storm has the potential to support a low-footprint direct shipping product (DSP) operation.

Figure 1: Massive and breccia-filling chalcocite (dark grey/black) in dolomite (light grey) in drill hole ST22-01.

“Drilling at Storm has produced outstanding results in the initial two drill holes, with over 72m of dominantly chalcocite mineralization visible in the core from drill hole ST22-01 and over 81m of similar mineralization visible in ST22-02,” stated Thomas Ullrich, CEO of Aston Bay. “These are significant results and demonstrate the continuity between historical copper intersections at the 2750N Zone, where our partners are working to define a copper resource. Previous ore sorting test work has demonstrated that the area can produce a high-value >53% copper direct ship product, highlighting the potential to support a low cost and low footprint direct ship mining development option.”

See full release linked below for figures and tables and images. 

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