Aston Bay and American West Metals Announce Fourth Diamond Drill Hole Hits Thick Interval of Visual Copper Sulfides at the Storm Copper Project, Canada

17 August 2023

August 17, 2023

  • Outstanding 100% drilling success rate continues with the sediment-hosted copper system confirmed in an untested area of the Storm Project
  • ST23-04 has intersected a thick 18.5m zone of visual copper sulfide (chalcocite and chalcopyrite) between 339m and 357.5m downhole, which correlates with the prospective sediment hosted copper horizon intersected in all diamond drill holes this season
  • ST23-04 extends the apparent strike of the prospective copper horizon a further 2km to the west of ST23-03
  • The drill hole was targeting a large gravity anomaly located south of the Southern Graben Fault, as well as the fault itself, validating the effectiveness of gravity in identifying copper sulfide mineralization
  • An untested 880m x 470m Fixed Loop Electromagnetic (FLEM) conductor is located immediately south of ST23-04 indicating potential for further strong copper mineralization in the area
  • Successful drill results demonstrate further evidence of a belt-scale copper system
  • Drilling continues at the Storm Project with assay results pending and expected within the next two weeks

Aston Bay Holdings Ltd. (TSXV: BAY) (OTCQB: ATBHF) ("Aston Bay" or the "Company”) reports a significant new visual copper sulfide mineralization intercept from the fourth diamond drill hole at the Storm Copper Project (“Storm” or the “Project”) on Somerset Island, Nunavut, Canada. The program, still underway, is being conducted by American West Metals Limited (“American West”), who are the project operator since entering an option agreement with Aston Bay in March 2021

“This is a phenomenal success rate for testing blind targets that once again points to the immense potential for new discoveries at Storm” stated Thomas Ullrich, CEO of Aston Bay. “The evidence mounts for a regional-scale copper system as predicted by our geological model. We are hitting copper in the same stratigraphic horizon in every widely spaced drill hole.

“The ground gravity geophysical survey conducted by Scott Smith’s team at Initial Exploration this spring has proven its mettle as a robust and effective method for delineating sulfide mineralization in the subsurface at Storm. A critical upshot of this is that the new gravity data indicates that the large gravity anomalies from the historic surveys, previously thought to be too deep to be of interest, are potentially well within reach. We are pleased that American West is advancing the development potential of the high-grade, near-surface copper mineralization at Storm, and extremely excited for the advances made in the game-changing discoveries of the sediment hosted copper mineralization we predicted lurked in the subsurface.”

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