Aston Bay and American West Metals Announce Large-Scale Copper Potential Reaffirmed by New Drilling and Geophysics at the Storm Project, Nunavut, Canada Diamond drilling at Cyclone Deeps intersects sediment-hosted style copper
Aston Bay and American West Metals Announce Large-Scale
Copper Potential Reaffirmed by New Drilling and Geophysics at
the Storm Project, Nunavut, Canada
Diamond drilling at Cyclone Deeps intersects sediment-hosted style copper
mineralization at depth coincident with large MobileMT anomaly
Highlights:
• Cyclone Deeps drilling success: diamond drill hole ST25-02 was drilled adjacent
to and below the large near-surface Cyclone Deposit and has intersected
approximately 4 7metres ("m") combined total of visual sediment-hosted copper
mineralization of similar style and mineralogy
• Multiple new copper targets identified with geophysics. Phase 1 of the airborne
Mobile MagnetoTellurics (MMT) survey has been completed along the Midway-
Storm-Tornado corridor with encouraging preliminary results received, including;
o The initial orientation survey has successfully detected the large, shallow,
and flat-lying Cyclone Deposit, confirming the effectiveness of this
geophysical technique to detect copper sulfide mineralization at the Storm
Project
o Five additional large and favourably located conductive features have also
been identified between an interpreted 0m and 350m depth
o A series of kilometre-scale conductive anomalies have been identified in the
deeper-searching, low-frequency data interpreted to be >350m depth.
o Approximately 1,320 line-km has been flown to date with detailed data
processing, interpretation and 3D modelling in progress
• Reverse-Circulation (RC) drilling progressing rapidly: 12 RC drill holes completed
to date, including;
o 7 holes completed at the Thunder, Lightning Ridge, and Corona Deposits for
resource category upgrade purposes
o 2 holes completed testing shallow resource extensions to the south of the
Cyclone Deposit
o 2 exploration holes completed at The Gap and southern graben areas
o Logging is underway, and initial observations are expected in the next 1-2
weeks, with assays expected in the next 4-6 weeks
• Government of Nunavut grants $250,000 to support the 2025 drilling
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, ON / ACCESS Newswire / July 10, 2025 / Aston Bay Holdings Ltd.
(TSXV:BAY)(OTCQB:ATBHF) ("Aston Bay" or the "Company") is pleased to announce
preliminary results from exploration 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 pleased to be drilling again at Storm and very excited by the first look at MMT
geophysical results. The initial phase of the MMT survey has delineated several extensive
conductive anomalies that match our copper mineralization model, highlighting the
project's significant exploration potential. These results are preliminary only, with the fully
processed results expected to refine these anomalies and define additional ones in a three-
dimensional model to assist in drill targeting later this season.
"The drilling is also progressing well, with additional resource definition and deeper
exploration drilling underway. The first deep hole has intersected copper sulfide
mineralization at the same stratigraphic position as the large Cyclone Deposit, as predicted
by our geologic model. Although copper is not abundant in this intersection, this style of
mineralization is typical of the periphery of Cyclone, suggesting that we may be on the edge
of a fault-offset portion of another deposit. "
We are very pleased to receive support from the Government of Nunavut through the
Discover Invest Grow (DIG) program. This funding not only contributes directly to our 2025
exploration efforts at Storm, but also signals strong regional and governmental recognition
of the project's potential. It reinforces the importance of responsible resource development
in Nunavut and highlights the critical role of copper in the global energy transition. "
Figure 1: Diamond drill rig drilling at the Cyclone Deeps target area, Storm Project,
Nunavut.
DEEP DIAMOND DRILLING
The first diamond drill hole, ST25-02, has been completed for the 2025 program and was
designed to test the Cyclone Deeps target within the Central Graben area. The drill hole
aimed to follow up earlier intersections of high-grade copper mineralization and to build
further evidence for the large-scale copper potential at depth.
Drill hole ST25-02 details
ST25-02 was drilled to a depth of 440m to the south-west of the Cyclone Deposit (Figures 2
& 6). The drill hole was designed to test the Allen Bay horizon within the Central Graben,
which is faulted downwards and located at approximately 280m depth. The Allen Bay
Formation is the primary host of copper sulfide mineralization within the Storm area.
The drill hole has intersected two broad zones of intermittent visual sulfide mineralization
between 284m-319m, and 368m-380m downhole for a total of 47m of visual sulfide
mineralization (Table 1).
The visual sulfide mineralization is hosted within a thick sequence of fractured
dolomudstones of the Allen Bay Formation. The visual mineralization consists of veinlets
and matrix breccias with diffuse, black iron sulfide and lesser copper sulfide infills and
cement (Figure 3). Highly mineralized zones are present within local fault zones with
increased fine-grained pyrite in dark material in veins and fracture fill between 314.3 m and
314.5 m, and 371.4 m and 371.6 m downhole.
The mode of mineralization and stratigraphic location are visually very similar to the
mineralization observed at the distal edges of the Cyclone Deposit (and common in other
large sediment-hosted copper systems). The results of ST25-02, as well as those in drill
hole ST24-01 (10m at 1.2% copper from 311m downhole; see September 20, 2024, Aston
Bay news release) further support the geological interpretation that the Northern Graben
fault offsets the Cyclone Deposit and may continue at depth. In addition, and elaborated
below, the newly acquired geophysical data support an extensive and compelling
exploration target.
The laboratory assay results for ST25-02 are expected in the next 4-6 weeks.
Figure 2: Schematic geological section at 464380E, looking east. The mineralization
intersected by ST25-02 is immediately below the Cape Storm Formation, similar to the
Cyclone Deposit (mainly located off-section to the east in the above Figure).
Figure 3: Dense breccia and fracture fill visual pyrite and chalcopyrite from ST25-02
(307.15-307.3m downhole). Assays for this interval are pending (see below visual estimates
disclaimer).
Hole ID From
(m)
To
(m) Min Min % Description / Mineral Mode
ST25-02
0 74
Cape Storm Formation -
dolomudstone and fossiliferous
limestone
74 284
Cape Storm Formation - thinly
bedded dolomudstone/floatstone
293 311 py, cp 0.1 Allen Bay Formation - sulfides in
fracture, breccia matrix and
veinlets
311 314 py 0.1 Breccia matrix and healed crackle
fractures
314 315 py, cp 1 Breccia/fault
315 319 py 0.1 Crackle and cemented fault
breccia at top, decreases
downhole
319 368
Allen Bay Fm: Brown
dolofloatstone
368 374 py, cp 0.1 Crackle-brecciated and organic-
rich
374 380 py, cp 0.1 Fault breccia
380 440
Allen Bay Formation
Table 1 : Summary geological log for drill hole ST25-02. Mineralization key: cp =
chalcopyrite, py = pyrite, (Min %) = visual estimation of sulfide content.
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. The laboratory assay results are expected in the next 4-6
weeks.
MOBILE MAGNETOTELLURICS (MMT) SURVEY
Phase 1 of the regional scale MMT survey has been completed along the Midway-Storm-
Tornado corridor, comprising approximately 1,320 line/km (Figures 4 & 5). Three
electromagnetic (EM) frequencies (4274Hz, 212Hz, and 84Hz) were captured and provided
in the preliminary results.
MMT utilizes natural source energy to capture a broader range of EM frequencies than the
techniques used at Storm previously. The survey is designed to highlight more
subtle/relative contrasts 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 interpretation) with depth in the historical geophysics.
The preliminary results have been received and have identified six strong and laterally
extensive conductive features within the shallow-looking higher frequency dataset
(Anomalies A1-A6, interpreted <350m depth, Figure 4), and several broad anomalous
features in the deeper-looking lower frequencies (Anomalies A7-A9, interpreted >350m
depth, Figure 5). Refinement of these preliminary results and delineation of additional
anomalies are anticipated from the fully processed data, which is expected in the coming
weeks.
Figure 4: Phase 1 MMT Imagery (Frequency 4274Hz, interpreted <350m depth of
investigation) overlaying copper deposit outlines, major faults, and aerial photography.
Warmer colours indicate higher apparent conductivity.
Interpretation of the preliminary higher frequency data (interpreted <350m depth) has
highlighted six distinct conductive features that are located in favourable locations within
the large graben-fault network (Figure 4). One of these anomalies is spatially related to
known high-grade copper sulfides at the Cyclone Deposit, confirming the geophysical
technique's ability to image this style of mineralization.
The lower frequency dataset (interpreted >350m depth) has highlighted large conductive
features that cross-cut the main E-W trend of the graben fault network, differing from the
higher frequency data described above (Figure 5). The orientation of these features may
represent a change of geology at depth (unconformity or older basement rocks?) and
structural trend. The high conductivity highlights these anomalies as key exploration
targets.
The Central Graben area is also highlighted as an area of increased conductivity in the
lower frequency data (Anomaly A7, Figure 5), providing additional evidence for the
prospectivity of the area.
Additional processing, interpretation and modelling work is continuing and will provide 3D
targeting information for drill testing.
Figure 5: Phase 1 MMT Imagery (Frequency 84Hz, interpreted >350m depth of investigation)
overlaying copper deposit outlines, major faults, and aerial photography. Warmer colours
indicate higher apparent conductivity.
NUNAVUT GOVERNMENT SUPPORT FOR DRILLING
The Storm Project is located in the Qikiqtaaluk Region in Nunavut, Canada. The
Government of Nunavut has initiated the Discover Invest Grow (DIG) program to encourage
the continuing advancement of exploration projects in the Territory. The program provides
targeted financial assistance for work that builds Nunavut's geoscience information base
on mineral deposits, and increases community confidence in the mining sector.
American West has been successful in its application for funding under the DIG program
and will receive CAD$250,000 in funding to support the 2025 drilling at Storm. The
successful application highlights the importance of the Storm Project and critical metals to
the Nunavut Department of Economic Development and Transportation, and the
emergence of the area as a potential world-class base metal terrane.
Aston Bay and American West thank the Government of Nunavut for its support.
Figure 6: Drill hole locations from the 2025 drilling program, overlaying copper deposit
outlines, existing drilling, and regional geology overlaying aerial photography.
FORWARD PROGRAM
• RC drilling continues with a pipeline of high-priority geophysical, exploration, and
resource expansion targets. Samples for 11 of the initial RC drill holes have been
sent to the laboratory for assay and are expected in the next 4-6 weeks.
• Diamond drilling will follow up on the Cyclone Deeps target, Cirrus Deeps target,
MMT anomalies, and other high-priority exploration targets.
• Unsampled historical diamond drill holes at the Tornado and Midway Prospects
have been sampled and sent to the laboratory for assaying.
• Environmental monitoring and survey activities have commenced.
• PFS activities continue, including permitting, processing, and mining studies.
Hole
ID
Prospec
t
Eastin
g
Northin
g RL Depth
(m)
Azimut
h
Di
p
Comment
s
SR25
-01 Thunder 465245 8172771 24
2
164.5
9
182 -88 Resource
upgrade
SR25
-02 Thunder 464970 8172881 25
0
124.9
7
181 -63 Resource
upgrade