Aston Bay and American West Metals Announce Another Discovery and High-Grade Copper Intervals at the Storm Copper Project, Canada Another new discovery further expands the copper mineralization footprint at Storm:
Aston Bay and American West Metals Announce Another Discovery
and High-Grade Copper Intervals at the Storm Copper Project,
Canada
Another new discovery further expands the copper mineralization footprint at
Storm:
• Exploration Reverse Circulation (RC) drill hole SR23-52 has intersected a
total of 19m of strong visual copper sulfide mineralization in two zones
from 32m downhole, delivering a new discovery in an underexplored area
of the Project
• The discovery is interpreted to be fault related and is located between the
high-grade 2750N and 2200N Zones, which are located approximately 1km
apart
• The new copper zone has been named ‘Lightning Ridge'
• Over 10km of prospective structures have been identified in the immediate
area with further potential across the Project tenure
Initial assay results from the summer drilling program at the 2750N and 4100N
Zones have returned high-grade near-surface high-grade copper intervals
including:
• Drill hole SM23-02 (4100N Zone diamond drill QA/QC hole) has
intersected (hole length):
o 46m @ 2.2% Cu from 64m, including,
▪ 15.6m @ 4.2% Cu from 65m, including,
▪ 0.3m @ 42.8% Cu from 67m
• Drill hole SR23-21 (2750N Zone) has intersected (hole length):
o 27.4m @ 1.5% Cu from surface, including,
▪ 7.6m @ 4% Cu from 7.6m, and,
o 27.4m @ 1.3% Cu from 30.5m, including,
▪ 9.1m @ 2.15% Cu from 33.5m
• Final assays for the summer drilling program comprising the remaining
RC delineation holes and four deep diamond drill holes are expected
regularly over the coming weeks
TORONTO, ON / ACCESSWIRE / September 5, 2023 / Aston Bay Holdings Ltd.
(TSXV:BAY)(OTCQB:ATBHF) ("Aston Bay" or the "Company") is pleased to report
a new near-surface copper discovery as well as excellent drill results that confirm
thick, high-grade copper over an expansive and growing footprint at the Storm Copper
Project ("Storm" or the "Project") on Somerset Island, Nunavut, Canada. The program
is being conducted by American West Metals Limited ("American West"), who are
the project operator since entering an option agreement with Aston Bay in March
2021
"Discovery strikes again with another new near-surface copper discovery in the
excellent exploration work conducted by our partners American West at Storm" stated
Thomas Ullrich, CEO of Aston Bay.
"The new Lightning Ridge discovery comes on the heels of the Thunder Zone
discovery earlier this summer. We see the massive black chalcocite at the surface near
the ridge edge south of the 2750N Zone and are pleased that the drill has confirmed
that the mineralization continues at depth. As well, the drilling revealed a second
copper zone that we believe is concealed beneath the scree at the bottom of the gully.
"Both Lightning Ridge and Thunder point to the exploration potential for additional
copper mineralization to potentially add to the near-surface delineation program
currently underway. The latest results from both the 2750N and 4100N Zones confirm
the continuity of the mineralization and include extremely rich zones up to 43%
copper (Figure 1). We are well on our way toward a maiden resource for the near-
surface mineralization, with these new discoveries already highlighting the potential
for expansion.
"Together with the exciting confirmation of sediment hosted copper mineralization at
depth earlier this season, Storm is proving to be a compelling growth story for both
near-surface development and deeper breakthroughs. We look forward to additional
results from this season, and to continued exploration and discovery."
Figure 1: Drill core from resource diamond drill hole SM23-02 from the 4100N Zone showing
chalcocite (dark grey) in dense brecciation, veining and faulting (now rubble). The interval is
from approximately 62.85m to 78m downhole and contains an average grade of 6.4% Cu
between 65m and 73.3m.
DRILL RESULTS HIGHLIGHT RESOURCE AND EXPLORATION
POTENTIAL AT STORM
The first batch of assay results from the summer 2023 resource drilling program have
been received which includes all drill holes from the 2750N Zone, and five additional
drill holes at the 4100N Zone (assays are still pending for the remainder of the 4100N
Zone drilling). The resource drilling has included both Reverse Circulation (RC) and
shallow diamond drilling in key areas of the near-surface prospects (Table 1).
The initial assays have defined the highest copper grades to date at the 4100N Zone
(Figure 1). The results continue to highlight the resource potential of the 2750N and
4100N Zones with consistent copper grades and good lateral continuity of the known
copper mineralization.
A single exploration RC drill hole (Figure 2) has made another discovery of near-
surface mineralization in a large, underexplored area between the 2750N, 2200N and
Thunder prospects.
The new discovery has been named ‘Lightning Ridge' and is located in an area of
outcropping massive chalcocite and large-scale faulting.
These latest results highlight the potential for further expansion of the high-grade,
near-surface mineralization within the Storm Project area.
Figure 2: RC Drill chips from RC drill hole SR23-52 from the Lightning Ridge Prospect. The
interval is from 125ft (38m) to 155ft (47.2m) downhole. Chalcocite (80% copper) veins and chips
are visible as dark grey, with malachite (copper oxide) seen as green.
Hole
ID Prospect Eastin
g
Northin
g
Dept
h (m)
Azimut
h
Inclinatio
n
Thickness
Strong
Mineralizatio
n (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 12.2
SR23-
11 4100N 464667 8174223 140.2 180 -70 18.2
SR23-
12 4100N 465115 8174317 149.4 179 -73 10.6
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 -
SR23-
17 4100N 465139 8174173 129.5 180 -66 19.8
SR23-
18 4100N 465186 8174280 182.9 180 -65 9.2
SR23-
19 2750N 466176 8172771 70.1 180 -55 7.6
SR23-
20 2750N 466231 8172821 97.5 196 -45 13.7
SR23-
21 2750N 466277 8172792 59.4 180 -55 54.8
SR23-
22 2750N 466230 8172820 114.3 150 -72 25.9
SR23-
23 2750N 466276 8172791 79.3 090 -78 7.6
SR23-
28 4100N 466184 8174210 149.4 180 -65 12.2
SR23-
29 4100N 466233 8174254 132.6 180 -62 3
SR23-
30 4100N 466231 8174174 120.4 180 -60 3
SR23-
31 4100N 466268 8174115 125 182 -61 32
SR23-
52
Lightnin
g 466062 8172544 118.9 360 -45 19
SM23
-01 2750N 466203 8172818 100 180 -50 12
SM23
-02 4100N 465016 8174253 180 180 -45 46
Table 1: 2023 Resource and near-surface exploration drill hole details.
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.
LIGHTNING RIDGE COPPER DISCOVERY
Exploration RC drill hole SR23-52 was drilled to a depth of 119m and completed in a
largely untested area of significant outcropping chalcocite (Figures 3 and 4). The drill
hole was designed to test an untested airborne VTEM target in an area with a single,
shallow historical drill hole (ST97-06 2.6m core length @ 6.83% Cu from 35.4m),
midway between the high-grade 2750N and 2200N Zones.
The VTEM target was successfully tested and resulted in 44m of visual copper
sulfides with a total 19m of strong visual copper sulfides (Table 2). The copper sulfide
mineralization consists of dense breccia and vein-hosted chalcocite within two broad
zones of mineralization (Figure 5). The upper zone of sulfide is particularly strong and
is interpreted to be the source of the VTEM anomaly.
The Lightning Ridge area is located to the south of the 2750N Zone, and across the
main E-W gully. Outcropping massive chalcocite is visible on the steep slope near the
gully ridge line and in boulders at the base of the scree slope. Its proximity to the
gully and the style of mineralization is strongly suggestive that the mineralization is
fault-related and steeply dipping, similar to the high-grade 2750N and 2200N Zones.
Five significant, fault-related and widely spaced copper prospects have now been
confirmed by drilling in the southern graben area. All of these discoveries are located
at, or close to surface and have only been tested to a depth of approximately 100
vertical metres. Further exploration will look to expand the search space deeper, and
along the vast fault network in the area.
Over 10km of prospective structures have been identified in the southern graben area
alone, highlighting the exploration potential along strike, and at depth below the
known copper mineralization (Figure 4). The Storm Graben faults can be also traced
for over 6km southeast into the Tornado and Blizzard Prospect areas, where there is
widespread copper geochemical anomalism at surface as well as significant untested
gravity anomalies.
The Lightning Ridge discovery continues to highlight the effectiveness of EM as a
targeting tool and the correlation with strong copper sulfides. Other high-priority EM
targets have been tested during this drilling program with assay results pending.
Hole ID From
(m) To (m) Min Description
SR23-52 0 18
Cape Storm Formation
18 20 ml Patchy ml on fractures
20 26
Allen Bay dolomudstone
26 29 ml Patchy ml on fractures
29 32 cc, ml Trace cc veinlets and ml on fractures (0.2%)
32 34 cc, ml Veinlets of cc (2.5%)
34 38 cc, ml,
py
Trace cc veinlets and ml on fractures (0.4%)
38 46 cc, ml,
py
Veinlets of cc (2%)
46 50 py Trace and patchy py (0.2%)
50 78 Dolomudstone
78 87 cc, py Veinlets of cc with trace py (1%)
87 105 cc, py Trace veinlets of cc and py (0.1%)
105 119
Dolomudstone
Table 2: Summary geological log for drill hole SR23-52. Mineralization key: cc =
chalcocite, py = pyrite, ml = malachite. (5%) = 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.
Figure 3: Plan view of the southern Storm area showing the known copper prospects, newly
discovered copper prospects (Thunder and Lightning Ridge), interpreted copper mineralization
footprint (defined by drilling, MLEM and VTEM), and drilling overlaying regional geology.
Stated drill hole intersections are all down hole length, and true width is expected to be 60% to
100% of stated length.