Aston Bay and American West Metals Announce Drilling Preparations Underway at the Storm Project, Nunavut, Canada Camp opening and logistics have commenced with geophysics and drilling to follow in the coming weeks
Aston Bay and American West Metals Announce Drilling Preparations
Underway at the Storm Project, Nunavut, Canada
Camp opening and logistics have commenced with geophysics and drilling to
follow in the coming weeks
Highlights:
• The 2025 drill program is set to begin. A pipeline of large-scale exploration targets prioritized for drilling
includes:
o Cirrus Deeps – high-priority EM target below the Cirrus Deposit with a stratigraphic setting similar
to Cyclone will be the first target to be tested with diamond drilling
o Cyclone Deeps – potential continuation of the large Cyclone Deposit at depth with
reconnaissance drill intercepts such as 10 metres (“m”) @ 1.2% copper (“ Cu”) from 311m
(including 0.5m @ 3.7% Cu from 315.5m), ready for follow-up with diamond drilling
o Resource Expansion – several discoveries near the footprint of the Mineral Resource Estimate
(“MRE”) will be followed up , including the Gap Prospect , which contains a strong EM anomaly
confirmed with drilling that returned 20m @ 2.3% Cu from 28m , and the Squall and Hailstorm
Prospects
o Tornado/Blizzard – located 5km east of the Storm copper deposits , the area hosts a 3.2km x
1.5km geochemical copper anomaly and two large electromagnetic (“EM”) plates yet to be drilled
o Midway – discovered by a single historical drill hole that intersected a total of 58m of visual copper
sulfide, located approximately 5km to the west of the Storm MRE area, to be drilled
• Geophysics to generate new targets. An extensive airborne Mobile Magneto-Telluric (“MobileMT”) survey
is planned early in the season for the Storm MRE area and other areas of interest along the 110km
prospective copper horizon, with results expected to inform drill targeting and prioritization this season.
Visual estimates of mineral abundance should never be considered a proxy or substitute for
laboratory analyses where concentrations or grades are the factor of principal economic interest.
Laboratory assays are required to determine the presence and grade of any contained mineralization
within the reported visual intersections of copper sulfides. Portable XRF is used as an aid in the
determination of mineral type and abundance during the geological logging process.
TORONTO, Ontario, June 12, 2025 – Aston Bay Holdings Ltd. (TSXV: BAY) (OTCQB: ATBHF) ("Aston
Bay" or the "Company ") is pleased to announce the commencement of activities at the Storm
Copper Project ( "Storm" or the "Project") on Somerset Island, Nunavut. American West Metals
Limited ("American West"), the Project operator, is conducting the exploration program . 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.
Thomas Ullrich, Chief Executive Officer of Aston Bay, commented:
"We are excited to begin another field season at Storm. The reverse circulation dri ll rig will work on
adding to the resource and target near -surface exploration targets, while the diamond drill rig will
focus on the deeper exploratory holes.
“In addition to the compelling targets generated in previous geophysical programs, we are very
excited to be flying a comprehensive MobileMT survey at Storm. This is the same survey that has
successfully delineated large conductive targets at our Epworth property. The significant contrast in
the conductive properties of the mineralized rock versus the host rock at Storm is ideal for MobileMT,
and its utilization of natural-source energy from within the Earth should help define deeper targets
that may have eluded previous methods. These new targets will be ready for drilling this season.
“Investors can also look forward to the completion of a Preliminary Economic Analysis for the near-
surface mineralization at Storm , currently underway. We are also working up drill targets for our
Epworth copper project, also in Nunavut, for a potential late-season drill program.”
Figure 1: A photo of interpreted copper sulfides/oxides (green) on the surface at the Chinook
Deposit, Storm Project, Nunavut. The material has not been assayed.
INITIAL DIAMOND DRILL PLAN
The first diamond drill targets to be tested in the Storm MRE area are Cirrus Deeps and Cyclone
Deeps (Figure 2 ). The drilling aims to follow up earlier intersections of high -grade copper
mineralization and build evidence for the large-scale copper potential at depth, which could rapidly
expand the copper endowment within the Storm MRE area.
Subsequent diamond drilling will continue to test high -priority geophysical anomalies and regional
exploration targets. These will include the Tornado, Blizzard, Midway areas and any new targets
defined by the upcoming MMT survey.
Figure 2: Plan view of the Storm area showing the high-priority (initial drilling) areas with potential
for further growth of copper mineralization based on drilling, geochemical sampling and
geophysics, overlaying copper deposit outlines, and topography.
Cirrus Deeps
Diamond drill hole ST24-03 was designed to target a 1,300m x 500m MLEM anomaly (Figure 3 & 5)
which is bounded by a series of large EM plates (approximately 350m to top, conductance ~40-60
siemens, moderate ~40-60° S/SW dip, striking ~WNW-ESE) at its northern edge. The EM anomalies
are located below the Cirrus Deposit and the Gap high-grade copper prospect, and are interpreted
to be proximal to the Southern Graben Fault.
This location in the Allen Bay Formation immediately below the Cape Storm Formation is the same
stratigraphic location as Cyclone. In addition to the potential for flat-lying stratigraphic
mineralization like Cyclone, the target is located along a fault zone similar to the well-mineralized
Chinook Deposit. These anomalies may indicate a considerable, connected accumulation of
copper within the Central Graben area. Similar EM targets drilled elsewhere in the Storm copper
belt have been confirmed as high-grade copper mineralization.
Figure 3: NE-SW geological section view through ST24-03 (looking NW) showing the Cirrus
Deposit, interpreted Southern Graben Fault and modelled MLEM conductors. The planned drill
hole depth is 650-700m.
ST24-03 has currently been drilled to a downhole depth of 414m (planned depth of 600-700m) and
intersected several zones of fracturing and sporadic copper sulfides (Figure 3) in the upper portion
of the hole , with increased fracturing at depth . Fracturing and voids in the rock are positive
indications since permeability and open spaces are required for efficient mineralization in the
sediment hosted copper model.
The drill hole will be the first diamond hole completed in the 2025 drill program.
Cyclone Deeps
High-grade copper mineralization has been discovered at depth, offset to the south of the Cyclone
Deposit (Figure 4). The Cyclone Deeps intersection of 10m @ 1.2% Cu (drill hole ST24-01) displays
a typical sediment hosted copper mineralogical profile with a high -grade core of native copper and
chalcocite (including 3m @ 2.2% Cu) with peripheral chalcopyrite and other less copper-rich sulfide
minerals.
The copper mineralization is hosted near the top of a thick sequence of fractured dolomudstone of
the Allen Bay Formation. The Allen Bay is the main host of the known copper mineralization within
the Storm area, and the stratigraphic position near the top of the formation also hosts Cyclone, the
largest deposit discovered to date. This mineralization may represent the offset southern portion of
the faulted Cyclone Deposit and presents an exceptional opportunity to add significant volume to
the current resources. This prospective horizon extends for over 5km in the immediate Storm area.
Figure 4: Schematic geological section at 464730E. The mineralization intersected by ST24-01 is
immediately below the Cape Storm Formation, similar to the Cyclone Deposit.
INITIAL REVERSE CIRCULATION DRILL PLAN
Reverse Circulation (“RC”) drilling will be used to test near-surface (<250m depth) resource upgrade,
resource expansion, and exploration targets.
The first phase of drilling will commence at the Thunder, Lightning Ridge, and Corona Deposits
before moving on to The Gap, Squall and Hailstorm Prospects (Figure 2). All of these opportunities
have the potential to add significant mineral resources to the Storm Project, with high -grade
mineralization similar to the known deposits already discovered.
Subsequent RC drilling will aim to test other nearby and regional exploration targets, which include
the Tornado and Blizzard areas, and numerous untested geochemical, Electromagnetic (EM) and
Induced Polarisation (IP) anomalies.
The Gap Prospect is a 500m -long zone located between the Corona and Cirrus Copper Deposits
(Figure 2), where multiple drill holes have intersected high-grade copper sulfides (including 1.5m @
4.4% Cu, 9.8g/t Ag from 39m, and 2m @ 2.5% Cu from 74m downhole in AB18-09, and 20m @ 2.3%
Cu, 3.3g/t Ag (Including 8m @ 5.3% Cu, 6.4g/t Ag) from 28m in SR24-003.
The Squall and Hailstorm Prospects are located immediately south of the southern graben fault
and collectively extend 1.8km northwest along strike of the Corona Deposit (see Figure 2).
Drilling at Squall during the 2024 season intercepted 1.5m @ 2.36% Cu, 5.0g /t Ag from 181.4m
(SR24-108) at the end of the hole, whilst surface geochemistry at Hailstorm has identified a 250m x
250m copper anomaly that remains open to the south (Figure 5).
Figure 5: Copper gossan from the Hailstorm Prospect. This is massive chalcocite (copper sulfide) and returned a
laboratory assay grade of >50% Cu, 61g/t Ag (Sample Y007193, 50% Cu is the upper limit of the assay technique
used).
Mobile Magneto-Telluric (MobileMT) Survey
A regional-scale MobileMT survey is planned to cover the Storm and wider exploration areas during
the 2025 program ( Figure 6). MMT utilizes natural source energy to capture a broader range of EM
frequencies than the techniques used at Storm to date. The survey is designed to show a greater
contrast between the host rocks and potential accumulations of conductive material (i.e.
metalliferous sulfide) with improved spatial and depth resolution. This is potentially very useful in
delineating deeper (>200m) occurrences of copper sulfide at Storm, where the resistive host rocks
cause a decreased signal -to-noise ratio and decreased confidence in interpretatio n with depth in
the historical geophysics.
The initial MobileMT survey will be completed over the Midway-Storm-Tornado area as an orientation
survey to determine the response of the known deposits before extending the survey into more
regional areas. The survey will begin in the coming week, allowing results to inform drill targeting and
prioritization this season.
Figure 6: Proposed MobileMT survey showing the planned Phase 1 and Phase 2 survey
lines, overlaying topography, and regional geology.
FORWARD PROGRAM
• MobileMT geophysical survey to commence imminently, with results expected to inform targeting for
exploratory drilling this season.
• RC drilling to commence in the Storm area, testing high -priority geophysical and resource upgrade
and definition targets.
• Diamond drilling to commence in the Storm area, following up on deep, high -priority copper targets
and EM anomalies.
• Unsampled historical diamond drill holes with visual copper sulfides at the Tornado and Midway
Prospects will be sampled immediately to expedite transport to the laboratory for assaying.
• Planning is complete , and preparations are underway for a broad range of environmental monitoring
and survey activities during 2025.
• PEA and PFS activities, including permitting, processing, and mining studies, are continuing.
Qualified Person
Michael Dufresne, M.Sc., P.Geol., P.Geo., is a Qualified Person as defined by the NI 43 -101
Standards of Disclosure for Mineral Projects and has reviewed and approved the scientific and
technical information in this press release.
QA/QC Protocols
The analytical work reported herein was performed by ALS Global (“ALS”), Vancouver Canada. ALS
is an ISO -IEC 17025:2017 and ISO 9001:2015 accredited geoanalytical laboratory and is
independent of Aston Bay Holdings Ltd., American West Metals Limited, and t he QP. Drill core
samples were subject to crushing at a minimum of 70% passing 2 mm, followed by pulverizing of a
250-gram split to 85% passing 75 microns. Samples were subject to 33 element geochemistry by
four-acid digestion and inductively coupled plasm a atomic emission spectroscopy (ICP -AES) to
determine concentrations of copper, silver, lead, zinc, and other elements (ALS Method ME-ICP61a).
Overlimit values for copper (>10%) and were analyzed via four -acid digestion and ICP -AES (ALS
Method Cu-OG62).
Aston Bay Holdings Ltd. and American West Metals Limited followed industry standard procedures
for the work carried out on the Storm Project, incorporating a quality assurance/quality control
(QA/QC) program. Blank, duplicate, and standard samples were inserted into the sample sequence
and sent to the laboratory for analysis. No significant QA/QC issues were detected during review of
the data. Aston Bay Holdings Ltd. and American West Metals Limited are not aware of a ny drilling,
sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data
referred to herein.
About Aston Bay Holdings