Aston Bay and American West Metals Announce Major Copper Discovery at the Storm Copper Project, Canada
Aston Bay and American West Metals Announce Major Copper
Discovery at the Storm Copper Project, Canada
• Diamond drilling of a large gravity target has intersected thick intervals of copper sulfides
• The discovery drill holes show similarities to many of the world’s major sediment-hosted copper
systems, including the deposits of the Kalahari Copper Belt and Central African Copper Belt
• Total of 45.5m of visual sulfides intersected in drill hole ST23-01 comprising:
o 30.5m of breccia-style visual copper sulfide (dominantly chalcocite) within three zones
associated with the shallow copper mineralization of the 4100N Zone between 45m and
86m downhole, and deeper in the same hole,
o 15m of visual breccia and vein-style copper sulfide (dominantly chalcopyrite) between
332m and 347m downhole – the first discovery intersection
• Diamond drill hole ST23-02 has intersected a second and more impressive discovery zone:
o 37m of visual breccia-style copper sulfide (dominantly chalcocite with minor native
copper) between 333m and 370m downhole
• The two diamond drill holes are located 680m apart – the continuity of the mineralized horizon
and the size of the gravity anomaly (>5km long and up to 1km wide) suggests that drilling has
potentially identified a large copper deposit
• Mineralization was intersected in both holes at the top of a modeled gravity anomaly,
highlighting the potential effectiveness of the technique for exploration targeting
• Gravity targets similar to that intersected by these initial diamond drill holes cover an extensive
area at Storm and remain untested by drilling, supporting the potential for a major, regional -
scale copper system
• Diamond drilling continues on high-priority copper targets with first assays expected in the next
4 weeks
• Reverse circulation resource definition drilling is also underway on near-surface copper targets
with results from the 2750N and 2200N Zones expected shortly
TORONTO, Ontario, August 2, 2023 – Aston Bay Holdings Ltd. (TSXV: BAY) (OTCQB: ATBHF) ("Aston
Bay" or the "Company”) reports significant copper sulfide mineralization intercepts from the initial
two diamond drill holes testing a blind gravity target at the Storm Copper Project (“Storm” or the
“Project”) on Somerset Island, Nunavut, Canada. The program, still underway, 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 of sedimentary hosted copper has been the true goal for all explorers at Storm, including
Aston Bay. I’m delighted to report that, finally, the quest has succeeded, and we have definitive proof
of a new sediment hosted copper system,” stated Thomas Ullrich, CEO of Aston Bay. “Our geological
model has predicted the presence of chalcocite in permeable sedimentary horizons, hidden in the
subsurface - this discovery proves it. The copper is there. Not only have we hit a significant
mineralized interval, but presence of chalcocite in the latest hole provides a vector to more copper-
rich mineralization within this very large gravity anomaly.
“Both initial drill holes have intersected higher-density copper sulfide mineralization at the top of the
modeled density anomaly, and at the same stratigraphic horizon. This confirms the presence of
hidden sediment hosted copper mineralization as predicted and, importantly, demonstrates that we
have a potentially effective targeting tool to find it: the ground gravity surveys yield excellent
resolution and depth control, proven with success at the drill bit.
“Airborne and ground gravity surveys have revealed anomalies, both blind and those associated with
surface copper mineralization, for over 10km to the west and south of this discovery. This offers
tremendous potential for additional discovery. This discovery is analogous to the world-famous
copper belts in Africa that contain some of the world’s largest and highest grade copper deposits.”
Figure 1: Photo showing example of strong chalcocite (dark grey) breccia fill and veining in drill hole
ST23-02 from approximately 358.2m downhole. Chalcocite is a copper sulfide mineral and contains
approximately 79.8% copper.
DIAMOND DRILLING HITS THICK AND EXTENSIVE COPPER SYSTEM
Diamond drill holes ST23-01 and ST23-02 have been completed at the Storm Project with both holes
intersecting thick intervals of visual copper sulfides. The drill holes were designed to test the
outstanding gravity targets that were defined beneath the near-surface mineralization at Storm (see
June 9, 2023 Aston Bay news release).
ST23-01 and ST23-02 were completed in key locations below, and to the west of the near-surface,
high-grade copper 4100N Zone (Figures 2 and 3). The drill holes have intersected 15m and 37m of
visual copper sulfides (respectively) within what is interpreted to be the same mineralized deeper
stratigraphic horizon. The copper mineralization consists of chalcocite, chalcopyrite and native
copper and is hosted within a vuggy, organic-rich sequence that has a higher density than the
surrounding stratigraphy, and is interpreted to be the source of the gravity anomaly. This is the first
intersection of the higher-copper content mineral chalcocite (79.8% copper) at this stratigraphic
depth. Chalcocite is typical in sediment hosted copper deposits, including the deposits of the
Kalahari Copper Belt and Central African Copper Belt, and is an important and high-value copper
mineral.
Drill hole ST23-01 was also designed to test the northern margin of the copper mineralization within
the 4100N Zone. Intersected a total of 30.5m of breccia and vein-style visual copper sulfides within
three distinct zones. The sulfides are very similar to the known high-grade mineralization at the
4100N Zone and it remains open to the north.
Figure 2: Plan view of the Storm area showing the gravity data interpretation, near-surface
mineralization footprint (yellow), major faults, and diamond drill hole locations in this report.
The distinctive mineralized horizon encountered at depth within ST23-01 and ST23-02 is interpreted
to correlate with the stronger copper mineralization intersected in 2022 drill hole ST22-10. The holes
are located approximately 680m apart and approximately 500m to the north of ST22-10. The large
spacing between these drill holes, and scale of the gravity anomalies are strong evidence of a very
large, laterally extensive copper system in the Storm Project area.
Figure 3: Total bouguer gravity image of the 4100N area, fault architecture and drill hole locations.
Hole ID Prospect Easting Northing Depth (m) Azimuth Inclination
ST23-01 4100N 464805 8174335 416 180 -75
ST23-02 EXPL. 464255 8174741 602 180 -70
Table 1: 2023 diamond drilling program details.
Visual estimates of mineral abundance should never be considered a proxy or substitute for
laboratory analyses where concentrations or grades are the factors 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 ST23-01 DETAILS
ST23-01 was drilled to a downhole depth of 416m and intersected two main zones of visual copper
mineralization (Figure 7). The drill hole was designed to test the northern extent of the high-grade
4100N Zone, and to test the large gravity anomaly at depth, below the near-surface copper
mineralization.
The first zone of copper mineralization encountered within ST23-01 is located near-surface within
the 4100N Zone and consists of 30.5m of breccia and fracture-hosted chalcocite and minor
chalcopyrite (Figure 10) over three major intervals from 45m downhole. This mineralization is typical
of the near-surface copper mineralization at the 4100N Zone and indicates that the mineralization
remains open to the north.
A second zone of mineralization was intersected at 332m downhole. The mineralized interval is 15m
thick and consists of mosaic breccia and replacement-style chalcopyrite cement (Figure 4). Minor
sphalerite (zinc sulfide) is present within the lower part of the sequence.
The sulfides are hosted within a sequence of organic-rich and vuggy dolomudstone. The mineralized
zone has a higher specific gravity than the host stratigraphy, which indicates that the drill hole has
likely intersected the interpreted source of gravity anomalism.
The mineralization and stratigraphy within the deeper intercept in ST23-01 are visually very similar
but contains more chaclcopyrite than the mineralization encountered within drill hole ST22-10 (see
September 28, 2022 Aston Bay news release). Drill hole ST22-10 is located 500m southwest from
ST23-01 and indicates that the stratigraphy is laterally extensive.
Hole ID From (m) To (m) Min Description
ST23-01 0.0 45 Cape Storm Formation
45 58 cc, cp, py 4100N Zone – veinlets (1%)
58 59 cc, cp, py 4100N Zone – breccia cement (2-5%)
59 68 cc 4100N Zone – (1.2%)
68 75.5
Dolomudstone
75.5 78 cc 4100N Zone - veinlets of cc throughout (1-2%)
78 81
Dolomudstone
81 86 cc 4100N Zone - veinlets and breccia (2-5%)
86 100
Dolomudstone with occasional floatstone
100 101 ml, cc Localized breccia with cc, ml cement (0.1%)
101 299 Dolomudstone, some cherty units
299 300 Doloboundstone with stromatoporoid
300 322 Dolofloatstone with coral and stromatoporoid
322 344 cp Dolomudstone with chalcopyrite veins/vugs (1%)
344 347 cp, sph Organic rich with mosaic breccia cp (1%)
347 359 Bioturbated and fractured dolomudstone
359 416
Dolomudstone with occasional floatstone
Table 2: Summary geological log for drill hole ST23-01. Mineralization key: cc = chalcocite, cp =
chalcopyrite, br = bornite, py = pyrite, Cu = native copper, ct = cuprite, ml = malachite, sph =
sphalerite, ga = galena. (5%) = visual estimation of sulfide content.
Figure 4: Chalcopyrite (brassy) in vugs and veinlets in drill hole ST23-01 from approximately 342m
downhole.
DRILL HOLE ST23-02 DETAILS
Drill hole ST23-02 was drilled to a downhole depth of 602m and intersected a continuous 37m thick
zone of visual copper mineralization from 333m downhole (Figure 7).
The mineralized interval is variably brecciated and fractured with chalcocite as the dominant copper
sulfide mineral. The lower section of the interval contains very strong mineralization with 1-5%
visual sulfide and localized breccias containing up to 30% chalcocite. Rare native copper and
sphalerite (zinc sulfide) along with pyrite are present within the lower part of the mineralized
sequence.
The copper mineralization is hosted within bioturbated mudstones within a broader interval of
fossiliferous carbonates. The geology and mineralization are very similar to drill holes ST23-01 and
ST22-10 and located at a similar depth (Figure 7). Mineralization elsewhere at Storm is zoned
(chalcocite – chalcopyrite – pyrite – sphalerite/galena), so the presence of chalcocite suggests that
drill hole ST23-02 is potentially vectoring to the higher-grade portions of the copper system.
Figure 5: Chalcocite (dark grey) breccia fill in drill hole ST23-02 from approximately 354.7m
downhole.
Hole ID From (m) To (m) Min Description
ST23-02 0.0 47.5 Cape Storm Formation
47.5 58 Allen Bay Formation
58 62 cp, py fine disseminated along fractures py/cp (0.1%)
62 78.5
Dolomudstone
78.5 109 py Trace and blebby pyrite (0.1%)
109 239 Dolomudstone with rare pyrite
239 239.5 sph Fault breccia with clay and anomalous zinc
239.5 310 Dolomudstone
310 322
Crystalline dolowackestone
322 333 Coral floatstone with stromatolite
333 353 cc Fractured/brecciated with trace cc (0.1%)
353 356 cc, py Breccia fill cc (1-2%) with thicker bands (30%)
356 357 cc Silty band with cc (2-5%), thicker bands (20%)
357 360 cc, py Breccia fill cc (1-2%) with thicker bands (30%)
360 370 Cu, sph Local floatstone with native Cu (1%)
370 381 Muddy laminated limestone
381 441 Dolomudstone with occasional floatstone
441 455 py Massive dolomudstone with py (0.1%) filled vugs
455 602 Dolomudstone with occasional floatstone
Table 3: Summary geological log for drill hole ST23-02. Mineralization key: cc = chalcocite, cp =
chalcopyrite, br = bornite, py = pyrite, Cu = native copper, ct = cuprite, ml = malachite, sph =
sphalerite, ga = galena. (5%) = visual estimation of sulfide content.
Figure 6: Chalcocite (dark grey) breccia fill in drill hole ST23-02. The interval shown is approximately
352-359m downhole.