Aston Bay and American West Metals Announce Large-Scale Geophysical Targets Confirmed at the Storm Project, Nunavut, Canada Final MMT survey results identify pipeline of high-priority copper exploration targets
Aston Bay and American West Metals Announce Large-Scale
Geophysical Targets Confirmed at the Storm Project, Nunavut,
Canada
Final MMT survey results identify pipeline of high-priority copper exploration targets
Highlights:
• Multiple large copper targets confirmed with geophysics. The final results and 3D
inversion for the airborne Mobile MagnetoTellurics ("MMT") survey along the Midway-
Storm-Tornado corridor have been received, and highlights include;
o A large conductive anomaly with a strike of more than 16km located to the
north of the Cyclone Deposit and at approximately 200 metres ("m") average
depth - this feature is interpreted to be contained within the Allen Bay
Formation, previously confirmed by drilling at Storm to be the main host of
copper sulphide mineralization in the project area
o A large, stratiform conductive anomaly also to the north of the Cyclone
Deposit at an interpreted 400m average depth is interpreted to represent the
deeper copper horizon at Storm, where deep diamond drilling has already
discovered copper sulphides across an area spanning 10 sq km
o Two additional, discordant conductive trends have been confirmed at
approximately 400m depth in the Midway and Tornado/Blizzard areas, with
the potential to host copper mineralization, supported by mapping and
sampling in the area, which has identified outcropping copper sulphides
• Validation of geophysics results. The large, shallow, and flat-lying Cyclone Deposit
has a distinct response in the new MMT survey data, confirming the effectiveness of
this geophysical technique to detect copper sulphide mineralization at the Storm
Project, and giving more weight to the potential of the new targets to potentially
represent additional copper mineralization.
• Mine permitting progresses: Engagement with the Nunavut Planning Commission
(NPC) continues regarding key permitting applications, including the ‘proposed
mine development and early-works permit' to facilitate pre-development works for
the potential mining operation.
• Pre-Economic Analysis ("PEA") and Pre-Feasibility Study ("PFS") advances:
Workstreams for completion of the PEA and PFS continue with final reports on field
activities being compiled and financial modelling for a potential mining operation
being optimized.
TORONTO, ON / ACCESS Newswire / September 10, 2025 / Aston Bay Holdings Ltd.
(TSXV:BAY)(OTCQB:ATBHF) ("Aston Bay" or the "Company") is pleased to provide the final
MMT geophysical survey results conducted 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 report these new conductive anomalies from this season's MMT
geophysical survey at Storm. The anomalies are large and hosted within favourable
stratigraphic and structural horizons, fitting well with our geologic model. The conductivity
of the anomalies is similar to that of the high-grade zones within the Cyclone Deposit,
suggesting that these new anomalies may be associated with copper sulphide
mineralization.
"We continue to work with our partners American West on refining the targeting for future
drill targets and look forward to providing further updates on results from the 2025 program.
"As well, we are encouraged by the steady progress of permitting and economic and
feasibility study work for development at Storm. These steps are critical in advancing Storm
toward a prospective mining operation, and we are pleased with the momentum to date.
"Copper remains one of the most compelling investment themes, with structural supply
deficits expected to widen as demand accelerates from electrification, renewable energy,
and infrastructure growth. With few new copper projects advancing at scale, we believe
Storm is well-positioned to deliver meaningful value and provide investors with direct
leverage to a strengthening copper cycle. "
Figure 1: Phase 1 MMT Imagery (Total apparent conductivity) overlaying copper deposit
outlines, major faults, and aerial photography.
MOBILE MAGNETOTELLURICS (MMT) SURVEY
The MMT survey completed along the Midway-Storm-Tornado corridor comprised
approximately 1,320 line/km (Figure 1), and the final modelling of the data, including
inversion slices, has now been received.
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 sulphide) with improved spatial and depth
resolution. This is potentially very useful in delineating deeper (>200m) occurrences of
copper sulphide 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.
Conventional EM surveys at Storm have effectively identified the near-surface high-grade
copper deposits. The MMT survey complements these earlier surveys with its greater
penetration at depth.
MMT INVERSION DATA AND RESULTS
Interpretation of the MMT data has confirmed the preliminary data, redefined several
conductive trends, and identified a number of new anomalies at different depths that have
the potential to be related to copper sulphide mineralization (see ASX announcement
dated 10th July 2025: Large-scale copper potential reaffirmed by new drilling and
geophysics at the Storm Copper Project, Canada).
One of these anomalies (Anomaly A1) is related to known shallow higher-grade copper
sulphides at the Cyclone Deposit, and confirms the geophysical technique's ability to
image this mineralization style. The MMT geophysical technique is regarded as reliable for
detecting copper mineralization grading approximately 2% or higher at Storm (based on
historical geophysics surveys).
The depth slices have confirmed a 16km long conductive feature to the north of the
Cyclone Deposit, located at approximately 150-250m depth (Target A8 - Figure 2). This
feature is interpreted to be contained within the flat-lying stratigraphy of the Allen Bay, the
primary host of the copper mineralization in the project area. The conductive feature
notably contains discrete areas of higher conductivity, some adjacent to the graben faults,
which could represent accumulations of copper sulphides (Figure 1). These anomalies are
ranked as high-priority drilling targets.
Target A8 continues to approximately 400m depth as represented in Figure 3. This may
correspond to the deeper copper horizon previously identified with diamond drilling.
Target A4 is a conductive body up to 3km long, sub-parallel to the graben and modelled
from 150m depth (Figure 3). This anomaly is ranked highly due to its proximity to the fault,
similar to the Cyclone Deposit.
At approximately 400m depth, two conductive features (Targets A2/A5) cross-cut the main
E-W trend of the graben fault network and are strongest in the Midway and Tornado/Blizzard
areas (Figure 3). The orientations of these anomalies strongly match the orientation of
localized faulting, which are known conduits of copper mineralization within the project
area - as confirmed with mapping and sampling; see ASX announcement dated 23 July
2025: Extensive Copper Defined by Regional Exploration. The high conductivity of these
anomalies and proximity to known copper sulphides confirm these as key exploration
targets. The modelled depth of the MMT anomalies is below the current extent of drilling in
the area.
Further analysis and interpretation of the MMT data will be incorporated into a regional-
scale data compilation and structural interpretation for the Storm project area.
The new geophysical targets will be prioritized for drilling in the next exploration drill
program at the Storm Project.
Figure 2: Phase 1 MMT inversion data sliced at approximately 150m vertical depth,
overlaying copper deposit outlines, major faults, and aerial photography.
Figure 3: Phase 1 MMT inversion data sliced at approximately 400m vertical depth,
overlaying copper deposit outlines, major faults, and aerial photography. The discordant
conductive trends are highlighted with white dotted outlines.
Figure 4: Project claim boundary and prospect location map, illustrating the interpreted
extent of the prospective copper and zinc stratigraphic horizons at the Storm Project.
Qualified Person
Michael Dufresne, M.Sc., P .Geol., P .Geo., is a Non-Independent 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.
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%.
FORWARD-LOOKING STATEMENTS
Statements made in this news release, including those regarding entering into the joint
venture and each party's interest in the Project pursuant to the agreement in respect of the
joint venture, management objectives, forecasts, estimates, expectations, or predictions of
the future may constitute "forward-looking statement" , which can be identified by the use
of conditional or future tenses or by the use of such verbs as "believe" , "expect" , "may" ,
"will" , "should" , "estimate" , "anticipate" , "project" , "plan" , and words of similar import,
including variations thereof and negative forms. This press release contains forward-
looking statements that reflect, as of the date of this press release, Aston Bay's
expectations, estimates and projections about its operations, the mining industry and the
economic environment in which it operates. Statements in this press release that are not
supported by historical fact are forward-looking statements, meaning they involve risk,
uncertainty and other factors that could cause actual results to differ materially from those
expressed or implied by such forward-looking statements. Although Aston Bay believes
that the assumptions inherent in the forward-looking statements are reasonable, undue
reliance should not be placed on these statements, which apply only at the time of writing
of this press release. Aston Bay disclaims any intention or obligation to update or revise any