Aston Bay and American West Metals Announce 8% Copper Intersected at the Storm Copper Project, Nunavut
Aston Bay and American West Metals
Announce 8% Copper Intersected at the Storm
Copper Project, Nunavut
• Additional thick and high-grade near-surface copper intervals intersected at the
4100N Zone with numerous intervals over 5% Cu and a peak value of 8% Cu
• Drill hole SR23-13 has intersected:
• 29m @ 1.2% Cu from 62.5m, including,
o 3m @ 5% Cu from 86.9m, including,
▪ 1.5m @ 8.2% Cu from 86.9m
• Drill hole SR23-14 has intersected:
• 25.9m @ 1.3% Cu from 61m, including,
o 9.1m @ 2.1% Cu from 76.2m, including,
▪ 3m @ 3.7% Cu from 82.3m
• Drill hole SR23-07 has intersected:
• 10.7m @ 1.3% Cu from 76.2m, including,
o 4.6m @ 2.9% Cu from 76.2m, including,
▪ 1.5m @ 6.5% Cu from 76.2m
• Drill hole SR23-09 has intersected:
• 10.6m @ 1% Cu from 67.1m, including,
o 4.6m @ 2% Cu from 71.6m
• Copper mineralization remains open laterally in all directions
• These results continue to expand the volume of t he near-surface mineralization and
provide further support for the exploration potential of the large gravity anomaly
located below the 4100N Zone
TORONTO, ON / ACCESSWIRE / June 22, 2023 / Aston Bay Holdings Ltd. (TSXV:BAY)
(OTCQB:ATBHF) ("Aston Bay" or the "Company") reports significant new drill results from the
spring reverse circulation (RC) drilling program at the Storm Copper Project ("Storm" or the
"Project") on Somerset Island, Nunavut, Canada. The program was conducted this April and
May by American West Metals Limited ("American West"), who are the project operator since
entering an option agreement with Aston Bay in March 2021.
"We continue to receive impressive results from the RC program conducted at Storm by our
partners America West Metals," stated Thomas Ullrich, CEO of Aston Bay. "The high grades, up
to 8% copper in these results and higher elsewhere at Storm, speaks to the quality of the
mineralized system, while its apparent continuity and consistency demonstrates a significant
increase in the known near-surface high-grade mineralization.
"The 4100N Zone sits directly above the largest of several geophysical targets recently
delineated at Storm, adjacent to faults that may have served as conduits for the mineralizing
fluids. Our exploration model suggests that the 4100N Zone may be the uppermost of a series of
stacked mineralized zones. This would be a game-changing discovery, and we eagerly look
forward to testing this hypothesis in the upcoming summer drill program."
Figure 1: Plan view of the 4100N Zone showing interpreted copper mineralization footprint
(defined by historical drilling and EM), historical and recent drilling details, overlaying regional
geology. Stated drill hole intersections are all core length, and true width is expected to be 60%
to 95% of stated length.
HIGH GRADES AND THICK INTERVALS CONTINUE
Assay results have been received and interpretation has been completed on drill holes SR23-07,
SR23-08, SR23-09, SR23-13, SR23-14, and SR23-15. The drill holes are located within the
central part of the 4100N Zone and have been prioritized to allow resource modeling on drill
sections with complete data sets.
The drilling results continue to demonstrate consistent copper grades and excellent lateral
continuity of the known copper mineralization. The mineralization is open along most sections
and is defined by broad intervals of vein and fracture-style chalcocite, bornite and lesser
chalcopyrite hosted within a distinct, horizontally extensive dolomite.
Multiple very high-grade lenses are located within the broader zones of mineralization, and these
targets and further expansion of the mineralized footprint will be a focus for follow-up drilling in
this zone.
Hole
ID Prospect Easting Northing Depth
(m) Azimuth Inclination
Copper
Mineralized
Interval (m)
SR23-
01 4100N 464991 8174285 137.2 180 -65 28.9
SR23-
02 4100N 464990 8174157 140.2 180 -59 21
SR23-
03 4100N 465041 8174251 151 178 -65 52.5
SR23-
04 4100N 465045 8174166 152.4 179 -69 25.9
SR23-
05 4100N 464899 8174146 131.1 180 -66 21.3
SR23-
06 4100N 464899 8174261 166.1 180 -69 13.7
SR23-
07 4100N 464805 8174203 137.2 180 -71 7.7
SR23-
08 4100N 464726 8174286 118.9 180 -69 6.1
SR23-
09 4100N 464726 8174206 164.6 180 -69 13.8
SR23-
10 4100N 464638 8174315 125 180 -70 10.6
SR23-
11 4100N 464667 8174223 140.2 180 -70 25.9
SR23-
12 4100N 465115 8174317 149.4 179 -73 12.2
SR23-
13 4100N 465051 8174321 175.3 180 -65 29
SR23-
14 4100N 464948 8174227 160 180 -65 25.9
SR23-
15 4100N 464853 8174167 121.9 180 -65 10.7
SR23-
16 4100N 465138 8174247 132.6 180 -70 7.62
SR23-
17 4100N 465139 8174173 129.5 180 -66 19.8
Table 1: 2023 program drill hole details and copper mineralization summary. The "Copper
Mineralized Interval" data is based on laboratory assays (in bold) and visual estimates.
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.
DRILL HOLE SR23-07 DETAILS
SR23-07 was drilled to a downhole depth of 137.2m and is located on drill section 464,800E
(Figure 2), the same section as historical drill holes ST97-14, ST99-56, and ST99-54.
SR23-07 intersected two horizontal zones of strong vein and fracture-style copper sulfide
mineralization hosted within fractured dolomite. The grade and mineralogy are identical to that
of the historical drill holes and confirm the excellent lateral continuity of the mineralization
along this section.
Figure 2: Geological section view at 464,800E showing the interpreted mineralization envelope
(>>1% Cu) and recent drill hole assays and visual observations. Stated drill hole intersections
are all core length, and true width is expected to be 60% to 95% of stated length.
Tables 2 - 7 below summarise the significant intersections in drilling. Intersections are expressed
as downhole widths and are interpreted to be approximately 90-100% of true width. A cut-off
grade of 0.5% copper is used to define a significant intersection and is based on mineralogy,
mineralization habit and expected beneficiation performance.
Hole ID From
(m)
To (m) Width Cu % Zn % Ag
g/t
SR23-07 50.3 54.9 4.6 0.9 - 2
Including 51.8 54.9 3.1 1 - 2.5
And 76.2 86.9 10.7 1.3 - 2.9
Including 76.2 80.8 4.6 2.9 - 5.7
Including 76.2 77.7 1.5 6.5 - 13
Table 2: Summary of significant drilling intersections for drill hole SR23-07 (>0.5% Cu)
DRILL HOLE SR23-08 and SR23-09 DETAILS
SR23-08 and SR23-09 were drilled along section 464,725E (Figure 3). The drill holes were
completed to a downhole depth of 118.9m and 164.6m respectively and were designed to test the
continuity of the mineralization between the thick intervals of copper encountered within
historical drill holes ST00-61 and ST00-62.
Both drill holes intersected wide zones of vein and fracture-style copper sulfide mineralization
hosted within fractured dolomite. Higher-grade zones of mineralization (>2% Cu) are contained
within the broader intervals of >1% copper sulfide mineralization.
The mineralization on drill section 464,725E remains open to the north.
Figure 3: Geological section view at 464,725E showing the interpreted mineralization envelope
(>1% Cu) and recent drill hole assays and visual observations. Stated drill hole intersections
are all core length, and true width is expected to be 60% to 95% of stated length.
Hole ID From
(m)
To (m) Width Cu % Zn % Ag g/t
SR23-08 71.6 82.3 10.7 0.6 - 3.2
Including 80.8 82.3 1.5 1.6 - 2
Table 3: Summary of significant drilling intersections for drill hole SR23-08 (>0.5% Cu)
Hole ID From
(m)
To (m) Width Cu % Zn % Ag
g/t
SR23-09 67.1 77.7 10.6 1 - 5.3
Including 71.6 76.2 4.6 2 - 10.3
And 82.3 85.3 3 1 6
Table 4: Summary of significant drilling intersections for drill hole SR23-09 (>0.5% Cu)
DRILL HOLE SR23-13 DETAILS
Drill hole SR23-13 was completed on the same section (465,050E) as drill holes SR23-03 and
SR23-04 (Figure 4). The drill hole is located to the north of SR23-03 (67m (core length) @
1.1% Cu) and was drilled to a downhole depth of 175.3m.
The drill hole confirmed the extension of the thick mineralization to the north and intersected a
broad interval of strong copper sulfide mineralization with three higher-grade bands. The lower
1.5m thick band consists of very dense chalcocite veining and averages 8.2% Cu.
Importantly, SR23-13 remains open to the north in an area with significant EM anomalism.
Figure 4: Geological section view at 465,050E showing the interpreted mineralization envelope
(>1% Cu) and recent drill hole assays and visual observations. Stated drill hole intersections
are all core length, and true width is expected to be 60% to 95% of stated length.
Hole ID From
(m)
To (m) Width Cu % Zn % Ag g/t
SR23-13 62.5 91.5 29 1.2 - 3.7
Including 62.5 64 1.5 2.9 - 8
And 67.1 68.6 1.5 2.4 - 20
And 80.8 82.3 1.5 2.1 - 5
And 86.7 91.4 4.7 3.5 - 4.7
Including 86.9 89.9 3 5 - 6
Including 86.9 88.4 1.5 8.2 - 9
Table 5: Summary of significant drilling intersections for drill hole SR23-13 (>0.5% Cu)
DRILL HOLE SR23-14 and SR23-15 DETAILS
SR23-14 and SR23-15 were drilled to test continuity along the East-West main strike of the
mineralization. The holes were drilled to a downhole depth of 160m and 166.1m respectively.
The drill holes have successfully confirmed the consistency of the copper mineralization between
the historical sections and increased the resource confidence in the central part of the 4100N
Zone.
Drill hole SR23-14 has intersected a single, very wide interval of vein and fracture-style copper
sulfide mineralization with individual assays up to 4.9% Cu.
Drill hole SR23-15 also intersected a wide zone (30m) of >0.5% Cu mineralization with higher-
grade bands of >1% Cu mineralization toward the base of the interval.
Hole ID From
(m)
To (m) Width Cu % Zn % Ag
g/t
SR23-14 61 86.9 25.9 1.3 - 2.4
Including 76.2 85.3 9.1 2.1 - 3.8
Including 82.3 85.3 3 3.7 - 5.5
Table 6: Summary of significant drilling intersections for drill hole SR23-14 (>0.5% Cu)
Hole ID From
(m)
To (m) Width Cu % Zn % Ag
g/t
SR23-15 44.2 74.7 30.5 0.5 - 1.3
Including 44.2 47.2 3 1.3 - 2
And 65.5 68.6 3.1 1.3 - 2.5
And 71.6 73.2 1.6 1.3 - 3
Table 7: Summary of significant drilling intersections for drill hole SR23-15 (>0.5% Cu)
4100N ZONE - TIP OF THE ICEBERG?
The new drill hole data at the 4100N Zone is helping to further the understanding of the
geological setting and mineralization processes of the Storm copper system. The drilling is
revealing a laterally extensive zone of mineralization that displays many of the features of a
typical sediment hosted copper deposit, including multiple stacked copper horizons. The recent
gravity survey data has highlighted a large and dense body underneath the 4100N Zone (see June
9, 2023 news release) which is interpreted to potentially represent a larger accumulation of
copper sulfides (Figure 5).
Importantly, the geology of the 4100N displays marked similarities to that observed in drilling
that has tested deeper parts of the system. Drill hole ST22-10, drilled to the west and below the
stratigraphic level of the 4100N Zone, targeted a large EM anomaly and intersected 68 m of a