Aston Bay and Partner American West Metals Announce Additional Outstanding Copper Intersections at the Storm Copper Project, Nunavut

6 June 2023

  • Thick and high-grade near-surface copper mineralization confirmed by assays for another five drill holes completed at the 4100N Zone
  • Drill results received to date confirm the continuous nature of the near-surface copper mineralization
  • Drill hole SR23-02 has intersected:
    • 29m @ 1.1% Cu from 59.4m, including,
    • 9.2m @ 2.2% Cu from 71.6m, including,
    • 1.5m @ 5.1% Cu from 79.3m
  • Drill hole SR23-03 has intersected:
    • 67.1m @ 1.1% Cu from 54.9m, including,
    • 4.6m @ 2.6% Cu from 64m, and,
    • 9.1m @ 2.5% Cu from 79.3m, including,
    • 1.5m @ 7.1% Cu from 82.3m, and
    • 4.6m @ 2% Cu from 97.5m
  • Drill hole SR23-04 has intersected:
    • 6.1m @ 1.1% Cu from 50.3m, and,
    • 19.8m @ 1.1% Cu from 77.7m, including,
    • 3.1m @ 4% Cu from 94.5m,
  • Drill hole SR23-05 has intersected:
    • 21.3m @ 1% Cu from 41.2m, including,
    • 3.1m @ 2.5% Cu from 45.7m
  • Drill hole SR23-06 has intersected:
    • 7.6m @ 1.1% Cu from 53.3m, including,
    • 3.1m @ 2% Cu from 54.9m, and;
    • 6.1m @ 1.2% Cu from 82.3m, including,
    • 3.1m @ 2.2% Cu from 82.3m

Aston Bay Holdings Ltd. (TSXV: BAY) (OTCQB: ATBHF) ("Aston Bay" or the "Company”) reports additional assay results confirm thick intervals of copper mineralization from its ongoing delineation drilling program at the Storm Copper Project (“Storm” or the “Project”) on Somerset Island, Nunavut, Canada. This is the second drilling program for American West Metals Limited (“American West”), who are the project operator, since entering an option agreement with Aston Bay in March 2021.

Assay results have been received for an additional five drill holes from the current program at the 4100N Zone, and all have intersected thick intervals of near-surface copper sulfides with grades up to 7% Cu. The assays continue to match or exceed visual estimations as previously reported.

The near-surface setting, thick intersections, and high grades of the copper mineralization support the potential for a low-cost open pit mining operation. We continue to assess this outstanding opportunity with resource modeling, beneficiation test work and environmental studies in progress.

“Once again, the impressive results continue to come in from the ongoing exploration conducted by our partner American West Metals at Storm,” stated Thomas Ullrich, CEO of Aston Bay.

“We believe these high-grade copper intercepts will support the development of a significant resource. We look forward to further results from our spring program and anticipate an exciting second program coming up this summer at Storm.”

  • Thick and high-grade near-surface copper mineralization confirmed by assays for another five drill holes completed at the 4100N Zone
  • Drill results received to date confirm the continuous nature of the near-surface copper mineralization
  • Drill hole SR23-02 has intersected:
    • 29m @ 1.1% Cu from 59.4m, including,
    • 9.2m @ 2.2% Cu from 71.6m, including,
    • 1.5m @ 5.1% Cu from 79.3m
  • Drill hole SR23-03 has intersected:
    • 67.1m @ 1.1% Cu from 54.9m, including,
    • 4.6m @ 2.6% Cu from 64m, and,
    • 9.1m @ 2.5% Cu from 79.3m, including,
    • 1.5m @ 7.1% Cu from 82.3m, and
    • 4.6m @ 2% Cu from 97.5m
  • Drill hole SR23-04 has intersected:
    • 6.1m @ 1.1% Cu from 50.3m, and,
    • 19.8m @ 1.1% Cu from 77.7m, including,
    • 3.1m @ 4% Cu from 94.5m,
  • Drill hole SR23-05 has intersected:
    • 21.3m @ 1% Cu from 41.2m, including,
    • 3.1m @ 2.5% Cu from 45.7m
  • Drill hole SR23-06 has intersected:
    • 7.6m @ 1.1% Cu from 53.3m, including,
    • 3.1m @ 2% Cu from 54.9m, and;
    • 6.1m @ 1.2% Cu from 82.3m, including,
    • 3.1m @ 2.2% Cu from 82.3m

Aston Bay Holdings Ltd. (TSXV: BAY) (OTCQB: ATBHF) ("Aston Bay" or the "Company”) reports additional assay results confirm thick intervals of copper mineralization from its ongoing delineation drilling program at the Storm Copper Project (“Storm” or the “Project”) on Somerset Island, Nunavut, Canada. This is the second drilling program for American West Metals Limited (“American West”), who are the project operator, since entering an option agreement with Aston Bay in March 2021.

Assay results have been received for an additional five drill holes from the current program at the 4100N Zone, and all have intersected thick intervals of near-surface copper sulfides with grades up to 7% Cu. The assays continue to match or exceed visual estimations as previously reported.

The near-surface setting, thick intersections, and high grades of the copper mineralization support the potential for a low-cost open pit mining operation. We continue to assess this outstanding opportunity with resource modeling, beneficiation test work and environmental studies in progress.

“Once again, the impressive results continue to come in from the ongoing exploration conducted by our partner American West Metals at Storm,” stated Thomas Ullrich, CEO of Aston Bay.

“We believe these high-grade copper intercepts will support the development of a significant resource. We look forward to further results from our spring program and anticipate an exciting second program coming up this summer at Storm.”

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