Aston Bay and American West Metals Expand the Extensive Near-Surface Copper Mineralization at Storm

6 November 2023

November 6, 2023

Further assay results from the summer Reverse Circulation (RC) drilling program have returned thick intervals of near-surface, high-grade copper mineralization, including:

  • Drill hole SR23-38 (4100N Zone) has intersected:
    • 24.4m @ 1.1% Cu from 48.8m, including,
      •  
        • 6.1m @ 2.8% Cu from 54.9m, including,
          • 1.5m @ 8.3% Cu from 54.9m, and,
        • 4.5m @ 1.5% Cu from 67.1m
  • Drill hole SR23-41 (4100N Zone) has intersected:
  • 12.2m @ 1.1% Cu from 118.9m, including,
    •  
      • 3m @ 4% Cu from 126.5m
  • 1.5m @ 1% Cu from 51.8m, and,
  • 1.5m @ 1.6% Cu from 64m, and,
  • 3.1m @ 2.7% Cu from 76.2m, and,
  • 1.5m @ 1% Cu from 80.8m
  • Drill hole SR23-43 (4100N Zone) has intersected:
  • High-grade, near-surface copper has now been defined at the 4100N Zone over a strike of more than 1,300m and a width of 400m, with drilling and geophysics supporting the potential to extend mineralization at least 600m farther to the northeast.
  • Drilling results continue to demonstrate the strong correlation between geophysical targets and copper mineralization, with an extensive suite of geophysical targets remaining to be tested.
  • The latest assays are part of the 63 drill holes completed at Storm in 2023 that will support the maiden mineral resource estimation at Storm.
  • All the known high-grade, near-surface copper zones remain open providing outstanding potential for further drilling to expand the resource.

Aston Bay Holdings Ltd. (TSXV: BAY) (OTCQB: ATBHF) ("Aston Bay" or the "Company”) reports the latest assay results from the Storm Copper Project (“Storm” or the “Project”) on Somerset Island, Nunavut. The program was conducted by American West Metals Limited (“American West”), who is the operator of the Project. 

“We are encouraged by the remaining reverse circulation drilling results from our summer 2023 program at Storm,” stated Thomas Ullrich, CEO of Aston Bay. “The footprint of the near-surface copper mineralization continues to get larger while demonstrating excellent continuity. Mineralization in these previously known zones remains open, and new discoveries of thick, high-grade zones such as Thunder and Lightning Ridge in the near surface that point to the potential to find more. Our partners American West are aggressively moving this near-surface mineralization toward a potential low-cost, high-margin DSO production scenario.

“The significance of this work is not limited to the near-surface mineralization alone. Deeper drilling this season has also confirmed the presence of similar copper mineralogy and grade at depth that are spatially associated with geophysical anomalies of significantly larger lateral extent. Although we have not yet encountered the same thicknesses as we see in the near surface, these new deeper intercepts highlight the similarities to the large-scale copper deposits of Central Africa. It is exciting to explore a project with such significant scale potential and we look forward to the 2024 season.”

View Details