Aston Bay Announces 48 Metres of 2.92% Copper Intersected at Storm Project, Nunavut
Aston Bay Announces 48 Metres of 2.92% Copper Intersected at
Storm Project, Nunavut
TORONTO, ON / ACCESSWIRE / September 8, 2022 / Aston Bay Holdings Ltd.
(TSXV:BAY) (OTCQB:ATBHF) ("Aston Bay" or the "Company") is pleased to announce
further assay results from drilling at the Company's high-grade Storm Copper Project ("Storm"
or the "Project") on Somerset Island, Nunavut. This is the maiden drilling program for American
West Metals Limited ("American West"), who are the project operator, since entering an option
agreement with Aston Bay in March 2021.
Highlights
Drill hole ST22-02 has intersected:
• 48m @ 2.92% copper (Cu) from 8 metres (m) downhole, including;
o 1m @ 21.9% Cu from 14m downhole, and;
o 8m @ 7.86% Cu from 29m downhole, including;
▪ 3m @ 12.12% Cu from 34m downhole, and;
o 2m @ 10.24% Cu from 48m downhole
• Result further confirms continuity of the near surface high-grade copper at the
2750N Zone
• Further assays for Storm are expected in the coming days.
"These assay results from the 2750N Zone are impressive and again demonstrate the quality of
the mineralized system," stated Thomas Ullrich, CEO of Aston Bay. "These are spectacular
copper grades over significant thicknesses very near surface. This increases our confidence in the
continuity of the mineralization and confirms the potential to define a shallow copper resource
that can support a low cost, small footprint direct shipping product mining operation.
"In addition to moving the 2750N Zone toward development, a compelling discovery story is
emerging with the immense potential demonstrated by the intersection of a zone of sediment
hosted style of copper mineralization in drill hole ST22-10. Assay results for that hole are still
pending, but confirmation of copper would validate our predictive exploration model with
significant implications for the potential copper endowment in this region. We eagerly await
those results."
Figure 1: Plan view of the 2750N Zone showing drilling and gossans over aerial photography.
Stated drill hole intersections are all core length, and true width is expected to be 60% to 95% of
core length.
Drill Hole ST22-02 Details
ST22-02 was drilled to a downhole depth of 155m and was designed to test the continuity of the
copper mineralization in the central 2750N Zone (Figure 1).
The drill hole intersected a broad, 83m zone of vein and fracture style copper sulfide
mineralization from approximately 5m downhole. The volume of copper sulfide throughout the
interval is variable and is controlled by the intensity of rock fracturing within the broader fault
zone.
The stronger mineralization in ST22-02 (and throughout the 2750N Zone) consists of massive
and semi-massive chalcocite and/or bornite and is hosted within large fractures and breccia zones
(Table 1 & Figure 2).
The drill core from ST22-02 will be used for beneficiation and metallurgical test work to
produce a direct shipping product (DSP) from the 2750N Zone mineralization.
Table 1 summarizes the significant intersections from ST22-02. Intersections are expressed as
downhole widths and are interpreted to be approximately 90% of true width. A cut-off grade of
0.5% copper is used to define a significant intersection and is based on ore mineralogy,
mineralization habit and expected beneficiation performance.
Hole ID From
(m)
To (m) Width Cu % Zn % Ag
g/t
ST22-02 8 56 48 2.92 - -
Including 14 15 1 21.90 - -
And 29 37 8 7.86 - -
Including 34 37 3 12.12 - -
And 48 50 2 10.24 - -
And 53 56 3 3.07 - -
82 83 1 3.93 - -
87 88 1 4.97 - -
Table 1: Summary of significant drilling intersections for drill hole ST22-02 (>0.5% Cu).
Figure 2: Schematic geological section at 466200E showing drilling and mineralized intervals.
Drill Hole ST22-01 Details
ST22-01 was drilled from south to north to a downhole depth of 128m and was also designed to
test the continuity of the copper mineralization in the central 2750N Zone (Figure 1).
An 18m wide zone of copper mineralization was intersected in ST22-01, which appears to have
been part of a much thicker intersection that has been truncated by a high-angle fault (Figure 4).
The preserved copper rich portion of the interval lies on the interpreted footwall of the fault, and
appears identical to that in drill hole ST22-02, with massive and breccia sulfides in places over
10% copper. The upper, hanging wall zone of the mineralized interval contains dark grey sooty
iron oxides (after pyrite?) and intermittent copper sulfides.
The strong presence of fine grained and sooty pyrite, highly fractured dolomite and weathered
nature of the rock package all confirm the presence of a late-stage structure which has likely
offset the mineralization on this drill section (Figure 3). Larger examples of these north-south
oriented faults can be seen at surface and appear as weathered gullies, one of which is present to
the immediate west of the 2750N Zone (Figure 1).
Further drilling either side of this section will define the displacement direction of the typically
wide (approx. 50m) zone of mineralization in this part of the mineralized system.
Table 2 summarizes the significant intersections from ST22-01. Intersections are expressed as
downhole widths and are interpreted to be approximately 90% of true width. A cut-off grade of
0.5% copper is used to define a significant intersection and is based on copper sulfide
mineralogy, mineralization habit and expected beneficiation performance.
Figure 3: Sooty sulfides within fractured dolomite in drill hole ST22-01 (approx. 29m - 38.31m
downhole).
Hole ID From
(m)
To (m) Width Cu % Zn % Ag
g/t
ST22-01 50 53 3 0.77 - -
Including 50 51 1 1.05 - -
65 69 4 3.39 - -
Including 66 67 1 10.6 - -
82 83 1 1.69 - -
Table 2: Summary of significant drilling intersections for drill hole ST22-01 (>0.5% Cu).
Figure 4: Schematic geological section at 466230E showing drilling and mineralized intervals.
2750N Zone: Advancing to a Mineral Resource Estimate
All drill holes completed at the 2750N Zone have successfully intersected thick zones of breccia
and/or massive copper sulfides (mostly chalcocite) hosted within much broader intervals of vein
and fracture-style mineralization.
Of the total of 1,534m drilled during the 2022 program, 997m has been completed at the shallow
and high-grade 2750N Zone. The drilling has failed to close off the mineralization, which is over
200m in strike and remains open to the east and west, and at depth.
There is excellent potential for further extensions to the 2750N Zone with strong copper
anomalism in soils and rock chips along strike for over 1km from the known mineralization.
Massive chalcocite has been mapped in outcrop to the west of the 2750N Zone, with assays of
rock chips up to 62% copper (Figure 5).
Figure 5: Massive chalcocite boulders exposed at surface from the 2750N Zone.
Drilling Program Summary
Hole ID Prospect Easting Northing Depth
(m) Azimuth Inclination
ST22-01 2750N 466230 8172841 128 180 -50
ST22-02 2750N 466202 8172763 155 360 -65
ST22-03 2750N 466293 8172778 119 359 -68.6
ST22-04 2750N 466276 8172827 146 182 -60.3
ST22-05 2750N 466275 8172827 89 180 -45.8
ST22-06 2750N 466178 8172828 152 180 -53
ST22-07 2750N 466164 8172804 101 197 -52
ST22-08 2750N 466328 8172822 107 180 -55
ST22-09 Loop10_1 466947 8172552 155 018 -60
ST22-10 Loop7_2 464323 8174299 382.6 180 -68.4
Table 3: Drill hole details.
Planned Program
Work will continue to progress the near-surface mine development and exploration/discovery
paths for the Storm Project in parallel.
Further diamond drilling is planned for next season to expand the shallow, high-grade 2750N
Zone, and to define initial resources at the 4100N and 2200N Zones where shallow high-grade
copper mineralization has also been intersected in historical drilling.
Exploration activities including drilling and geophysics are also planned for next season to
follow-up the significant new discovery of sediment hosted style copper mineralization, which is
associated with a large EM anomaly to the west of the previously recognized and highly
mineralized 4100N Zone (see August 23, 2022 news release). With six EM anomalies similar to
that intersected remaining to be tested, there is strong potential for multiple large-scale mineral
system to occur at these deeper levels.
Beneficiation and metallurgical test work will soon commence on the remaining half drill core
(ST22-02) from this year's program. The aim of this work is to create a definitive flow sheet for a
direct shipping product operation from the 2750N Zone mineralization. Previous test work on
Storm drill core has produced a >53% copper direct shipping product using a full-scale ore sorter
and with no further processing or optimization (see April 11, 2022 news release).
Investors can expect further news as the laboratory assays for the remaining drill holes are
received over the coming days and weeks.
About the Storm Copper and Seal Zinc-Silver Projects, Nunavut
The Nunavut property consists of 117 contiguous mining claims and six prospecting permits
covering an area of approximately 302,725 hectares on Somerset Island, Nunavut, Canada. The
Storm Project comprises both the Storm Copper Project, a high-grade sediment hosted copper
discovery (intersections including 110m* @ 2.45% Cu from surface and 56.3m* @ 3.07% Cu
from 12.2m) as well as the Seal Zinc Deposit (intersections including 14.4m* @ 10.58% Zn,