- Aston’s CEO reports that drilling confirms the company’s geological model.
- The 2024 deep-drilling program has delivered further evidence of a very extensive laterally oriented deeper copper horizon that covers an area of more than 10 square kilometres (km2) and remains open.
- All three deeper drill holes in the 2024 program — collared approximately 2 km apart from each other — have intersected copper sulfides and prospective stratigraphy within the interpreted deeper copper horizon.
- Additional results from the 2024 campaign to be reported in the coming weeks.
Amid strategic diamond-drilling activities, Aston Bay Holdings (TSX.V: BAY) (OTC: ATBDF), a publicly traded mineral exploration company exploring for high-grade critical and precious metal deposits, has released an update on its Storm Copper Project (https://ibn.fm/c8kDQ). The project is located on Somerset Island, Nunavut, with exploration being conducted by American West Metals Limited.
According to the update, drill holes for the 2024 deep-drilling campaign are designed to test key geological targets at Storm as well as the potential for new zones of copper mineralization at the Deep Copper Horizon location, which was discovered in 2023.
“It is encouraging to receive confirmation of our geological model with the drill bit,” said Aston Bay CEO Thomas Ullrich. “Drilled to test stratigraphy and structure in a little-explored area, ST24-02 encountered a significant amount of sediment-hosted-style copper mineralization. While the mineralization at this location is spread out over a wide interval, it nevertheless highlights the pervasive nature of the mineralizing process at Storm and points to the potential where the copper budget of these pervasive fluids can be concentrated in higher-grade zones as in the near-surface copper deposits currently being defined at Storm.”
In addition, Ullrich provided an update regarding a third drill hole in the campaign, which “remains only partially completed due to drilling difficulties at the end of the season,” he noted. “Drilling in the frozen Arctic ground requires salt to be added to the drilling fluid to prevent freezing. Before reaching the target, the drill intercepted a fractured zone, resulting in the loss of the drilling fluid. Unfortunately, it was too late in the season to resupply the salt and other drilling additives necessary to continue the hole this year.
“The targeted anomaly exhibits characteristics of both fault-hosted Chinook-style and stratiform-hosted Cyclone-style mineralization, making it a very compelling target,” Ullrich concluded. “I eagerly look forward to completing this drill hole early next year.”
The Storm property consists of 173 contiguous mining claims covering an area of approximately 219,257 hectares on Somerset Island, Nunavut, Canada. The Storm property comprises both the Storm Copper Project, a high-grade sediment-hosted copper discovery, and the Seal Zinc Deposit. The company noted that there are also numerous underexplored and undrilled targets within the 120-kilometer strike length of the mineralized trend, including the Tornado copper prospect.
Aston Bay and American West have formed a 20/80 unincorporated joint venture with respect to the Storm Project property, with Aston Bay maintaining a free carried interest until a decision to mine is made upon completion of a bankable feasibility study.
Aston Bay is focused on exploring for high-grade critical and precious metal deposits in both Canada and the United States. The company is aggressively advancing the high-grade Storm Copper Project in Nunavut, Canada, toward development with partner American West Metals. The company is free carried for all expenditures at the project until decision to mine. Aston Bay is looking to replicate the success of Storm with its Epworth Copper Project, also located in Nunavut, where surface samples have yielded up to 61% copper with 5600 g/t silver as well as cobalt, zinc and gold. The company is also exploring the high-grade (up to 62.51 g/t Au) Buckingham Gold Vein and critical metals prospects in central Virginia.
For more information, visit AstonBayHoldings.com.
NOTE TO INVESTORS: The latest news and updates relating to ATBHF are available in the company’s newsroom at https://ibn.fm/ATBHF
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