Aston Bay (TSX.V: BAY) (OTCQB: ATBHF) reported new near-surface copper intercepts from recent RC drilling at the Storm Copper Project on Somerset Island, Nunavut, under joint venture with American West Metals. Several intersections lie outside the current conceptual pit walls, indicating potential to expand the mineral resource. Drilling also reached the Deep Cirrus target, intersecting copper sulphide mineralization and favorable stratigraphy. Final results from the MobileMT geophysical survey are expected soon to guide further exploration at depth.
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About Aston Bay Holdings
Aston Bay is a publicly traded mineral exploration company exploring for high-grade critical and precious metal deposits in North America. The Company is exploring the Storm Copper Property and Cu-Ag-Zn-Co Epworth Property in Nunavut.
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 shall have 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 a decision is made. After such a decision, 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%.
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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