Aston Bay and American West Metals Report Multiple New Copper Targets Along the 110km-long Copper Belt at the Storm Project,
Aston Bay and American West Metals Report Multiple New Copper
Targets Along the 110km-long Copper Belt at the Storm Project,
Nunavut, Canada
Drilling, soil geochemistry and electromagnetics continue to highlight large -
scale regional exploration potential
Seabreeze Prospect:
• Greenfield exploration has defined a new base metal prospect at the far northwestern extent of the 110
kilometre (“km”) long copper belt – this new area is named ‘Seabreeze’ and covers an area of approximately 10
km x 2 km
• Ground gravity survey at Seabreeze has identified dense features within the prospective Allen Bay Formation –
the same stratigraphic host to the Storm copper deposits
Hailstorm Prospect:
• Geological mapping and rock sampling have discovered chalcocite gossans grading >50% copper (“Cu”) within
an unexplored area at Storm to the south of the Southern Graben – now named ‘Hailstorm’
• Follow-up geochemical sampling has defined a 250 m x 250 m copper anomaly along a major fault
• The geological setting is identical to that of the near-surface, high-grade copper deposits at Chinook, Thunder,
Lightning Ridge, and Corona
Tornado Prospect:
• Deep searching Moving Loop Electromagnetics (“MLEM”) has defined new conductors below the limit of current
drilling at Tornado, 5 km along strike from the known Storm deposits
• All Reverse Circulation ( “RC”) drill holes have intersected anomalous copper, silver, and zinc in favourable
geological locations, confirming the Storm mineralization model at Tornado and providing compelling targets
for follow-up drilling
Tempest Prospect:
• Reconnaissance drilling at Tempest – located 40 km south of the known Storm copper deposits – has intersected
anomalous copper, zinc, and silver within Storm-style stratigraphy
• The area is defined by a 4km -long zone of gossans, grading up to 38.2% Cu and 30.8% Z inc (“Zn”), confirming
Tempest as a high-priority prospect for follow-up drilling
TORONTO, Ontario, November 25, 2024 – Aston Bay Holdings Ltd. (TSXV: BAY) (OTCQB: ATBHF) ("Aston
Bay" or the "Company”) is pleased to provide an update on the 2024 drilling and regional exploration
activities at the Storm Copper Project (“Storm” or the “Project”) on Somerset Island, Nunavut. The
exploration program is being conducted by American West Metals Limited (“American West”), the Project
operator. 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:
“Greenfields regional exploration continues to deliver discoveries at Storm. In addition to the successful
delineation drilling program this year, the geological team has discovered two new zones with copper, zinc
and silver mineralization, reinforcing the belt-wide prospectivity of this 110 km-long trend. The successful
prospecting, geophysics, geochemistry and drilling programs all point to the untapped potential for more
copper at Storm, and we look forward to testing these new discoveries while advancing the known deposits
toward development.
“Work is advancing well on the maiden resource for Storm as well as the development study work with
news expected over the coming months.”
Figure 1: Copper gossan from the Hailstorm Prospect. This is massive chalcocite (copper sulfide), yielding >50% Cu
(50% is the upper limit of the assay technique used).
Figure 2: Prospect location map of the Storm Project highlighting the main prospective copper
and zinc stratigraphic horizons.
New copper prospects discovered
Seabreeze
Detailed mapping, geochemical and ground gravity surveys have been completed over the northwestern
extent of the 110 km-long prospective copper horizon (Figure 2). This area contains extensive outcrops of
Allen Bay Formation rocks, the primary host to the known copper deposits in the Storm area. These
surveys were the first detailed exploration of the area, now named ‘Seabreeze.’
Mapping within the prospect area confirms a geological setting similar to that of the Storm deposits, which
are approximately 40 km to the east. The mapping at Seabreeze has identified the prospective contact
between the Cape Storm and Allen Bay Formations and several fault zones that are known controls of the
copper mineralization at the Project.
Soil geochemical sampling was completed within two targeted grids, with 76 soil samples collected at an
average 400 m x 400 m spacing (21 samples in the north and 55 in the south , respectively), depicted in
Figure 3.
The assays show an anomalous copper signature spatially associated with the northwest -southeast
structural trend within the Allen Bay Formation and confirm the prospectivity of the northwestern extent
of the copper belt. The results now confirm the potential for further discoveries of copper and zinc along
the entire 110 km strike of the belt.
The ground gravity survey was completed at a nominal 200m line- x 50m station-spaced grid over an area
of 6 km2 across the contact with the Allen Bay and Cape Storm formations. The survey aimed to screen
for dense bodies that may represent accumulations of mineralization and to delineate favourable
lithology that may host mineralization.
The gravity survey yielded strong gravity anomalies, likely within the Allen Bay Formation. This association
between higher densities and the prospective Allen Bay stratigraphy is observed in the Storm area and is
significant at Seabreeze due to the proximity of the Seal zinc-silver deposit (see December 6, 2017, Aston
Bay news release), located approximately 3 km to the south: base metal mineralization is typically zoned,
with a copper mineralized central core surrounded by zinc mineralization on the periphery. Follow-up
exploration at the Seabreeze Prospect will include detailed ground EM and an expansion of the gravity
surveys.
Figure 3: Seabreeze prospect showing soil sample locations, copper geochemistry, and the gravity imagery (Bouguer
anomaly - hotter colours indicate an increase in density), overlaying regional geology. Note the location of the contact
between the Cape Storm and Allen Bay Formations, and proximity to the Seal zinc-silver deposit.
Hailstorm
Reconnaissance mapping and rock sampling in the southern graben area of Storm has discovered a new
zone of copper gossans proximal to a major interpreted fault (Figure 2). Follow-up soil sampling identified
a 250 m x 250 m copper anomaly located along the strike of the fault, suggesting structural control to the
mineralization as is typical at Storm (Figure 4).
Massive chalcocite boulders sampled from the copper gossans returned grades up to 50% Cu (Figure 1 -
50% is the upper detection limit of the assay method used). Massive copper sulfides are commonly
associated with large structures in the Southern Graben area, an identical geological setting to the known
copper deposits to the north. This new area has been named ‘Hailstorm.’
Follow-up exploration at the Hailstorm Prospect will include RC drilling.
Figure 4: Map of the Southern Graben area showing the location of the Hailstorm Prospect and copper soil
geochemistry in relation to the known copper deposits, overlaying aerial photography and major faults.
High-priority EM targets defined at Tornado
The Tornado Prospect is located 5 km along strike from the Storm deposits to the east (Figure 2). It is
centred on an area with abundant chalcocite and malachite boulders within a 3.2 km x 1.5 km geochemical
copper anomaly. The large copper anomaly shares the same linear trend as the main structural features
of the Storm Graben. Most of the anomalous copper samples are located proximal to the interpreted
Northern Graben Fault, which is a similar setting to that of the large and laterally extensive Cyclone
Deposit.
Exploration at Tornado during 2024 included deep-searching MLEM surveys and RC drilling.
The MLEM survey was conducted over six lines incorporating 115 stations, using a 400 m line-spacing and
100 m station-spacing for a total of 10.9 linear km. The survey aimed to screen the area for high -grade
copper sulfides (which are successfully defined by EM at Storm) and to aid in mapping the stratigraphy
and structures that could potentially host copper sulfide mineralization.
The survey defined two strong anomalies located within the prospective Allen Bay Formation. The 3D
modelling suggests that the EM anomalies may be flat lying and located deeper than the current limit of
the recent RC drilling (>150 m vertical depth, Figure 5). The strong positive correlation between the recent
MLEM surveys, historical VTEM surveys, and copper mineralization supports the interpretation of the
structural setting and deep copper potential at Tornado.
Figure 5: Oblique section view of the drill line at the Tornado prospect looking WNW. The image shows MLEM image
(CH18BZ) and geology (map view, top – warmer colours indicating higher conductivity) above 3D inversion shells
from the 2011 VTEM survey (cross-section view, bottom – cooler colours indicating higher conductivity). The section
location is illustrated in Figure 6.
Historical drill hole AB18-07 was drilled to a downhole depth of 300 m, intersecting brecciated Allen Bay
Formation throughout the entire hole and logged visual copper oxide mineralization (0.5% abundance
between 19.35 m and 21.2 m downhole). Further to the east, though not covered by the recent MLEM
survey, historical drill hole AB18 -01/01B also intersected disseminated and veinlet -hosted visual
chalcocite between 88.9 m and 110.3 m downhole (0.5 – 1% in abundance). These drill holes have not
been assayed.
Five drill holes were completed by the helicopter -portable RC drill, and all holes intersected the
prospective Allen Bay Formation. Drill hole SR24-131 was collared in the Douro Formation of the central
Tornado graben and only just intersected the Allen Bay Formation at the end of the drill hol e, indicating
that the central block of the graben may have been faulted downwards approximately 175 -200 vertical
metres.
Anomalous copper, zinc or silver were observed in all drill holes. The highest copper and silver values were
intersected in drill hole SR24 -129, located proximal to the northern Tornado graben fault , a similar
position to the copper-mineralized historical drill hole AB18-07 as described earlier (Table 2).
Drill hole SR24 -133 was drilled 750 m north of the Tornado Graben Fault and intersected a 32 m thick
interval of anomalous zinc mineralization from the surface with a maximum value of 1,040ppm Zn. This
zonation of a copper mineralized core close to the graben faults (the presumed conduit of the mineralizing
fluids) surrounded by peripheral zinc mineralization is typical at Storm.
The Tornado area contains a compelling coincidence of ideal structural and stratigraphic setting, strong
gravity and EM anomalies, and copper geochemistry, located just 5 km along strike from Storm. These
features rank the area as highly prospective for discovering additional copper mineralization. Follow-up
exploration will include RC and deeper diamond drilling.
Visual estimates of mineral abundance, type or habit 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.
Figure 6: MLEM image (CH18BZ) of the Tornado and Blizzard 400 m loop survey overlaying geology and
interpreted major faults. Hotter colours indicate higher conductivity.
Drilling confirms copper and zinc at the Tempest Prospect
The Tempest Prospect is located approximately 40 kilometres south of the copper deposits at Storm
(Figure 2). The area is defined by a 4km long zone of gossans, with up to 38.2% Cu and 30.8% Zn in surface
grab samples (see November 27, 2023, Aston Bay press release).