Aston Bay (TSX.V: BAY) (OTCQB: ATBHF), a publicly traded mineral exploration company exploring for high-grade copper and gold deposits in Virginia and Nunavut, Canada, has released an update on drilling activities at its Nunavut-based Storm Copper Project. Highlights of the report indicate a large copper system at depth confirmed by assays with up to 3.7% copper (“Cu”) along with the discovery of cyclone-style copper mineralization at depth and confirmed prospectivity of the Central Graben area. In addition, drilling confirmed the large lateral extent of the Storm Copper system at depth.
“The first deep drill hole of the year adds another success to the 2024 exploration program at Storm,” said Aston Bay CEO Thomas Ullrich in the press release. “The style of copper mineralization intercepted, and its stratigraphic location is similar to Cyclone — this may be the fault-offset southern portion of the deposit and could add to a potential future resource. In addition to extensions to known mineralization, this discovery highlights the discovery potential of the deeper stratigraphic levels in the Central Graben area, an expanse of over 10 square kilometers. Every deep drill hole has hit copper mineralization at approximately the same depth, and we continue to improve our geophysical modeling to hit thicker and higher-grade intercepts in this very large and prospective horizon. The value of these deeper discoveries is not limited to the potential value of the copper alone. The geophysical signature of exploration success that we obtain from these drill holes will be fed back into the model to further refine our targeting for even better copper intercepts at depth.”
To view the full press release, visit https://ibn.fm/elRkU
About Aston Bay Holdings
Aston Bay is a publicly traded mineral exploration company exploring for high-grade critical and precious metal deposits in the state of Virginia and in Nunavut, Canada. The company is currently exploring the Storm Copper and Cu-Ag-Zn-Co Epworth properties in Nunavut and the high-grade Buckingham Gold Vein in central Virginia. The company is also in advanced stages of negotiation on other lands with high-grade critical metals potential in North America. The company and its joint venture partners, American West Metals Limited and its wholly owned subsidiary, Tornado Metals Ltd. (collectively, American West), have formed a 20/80 unincorporated joint venture in respect of the Storm Project property, which hosts the Storm Copper Project and the Seal Zinc Deposit. Under the unincorporated joint venture, Aston Bay has a free carried interest until American West has made a decision to mine upon completion of a bankable feasibility study, meaning American West will be solely responsible for funding the joint venture until such decision is made. After such decision is made, Aston Bay will be diluted in the event it does not elect to contribute its proportionate share and its interest in the Storm Project property will be converted into a 2% net smelter returns royalty if its interest is diluted to below 10%. For more information, please visit www.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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