Aston Bay Announces Additional Shallow Copper Mineralization Intersected at Storm Project, Nunavut
Aston Bay Announces Additional Shallow Copper Mineralization Intersected
at Storm Project, Nunavut
TORONTO, ON, August 8, 2022 – Aston Bay Holdings Ltd. (TSXV: BAY) (OTCQB:
ATBHF) ("Aston Bay" or the "Company”) is pleased to announce the excellent visual results
confirming the presence of shallow copper mineralization in another four diamond drill holes
completed 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
• Four additional diamond drill holes completed at the high -grade Storm Copper
Project; a total of six diamond drill holes have been completed to date (see news
release dated July 25, 2022);
• All intersections of copper sulfides are within 100 metres (m) from surface,
indicating a significant volume of shallow mineralization;
• The breadth and intensity of mineralization evidenced in the current Storm drilling
campaign have consistently been representative of previous historical drill holes,
which yielded 110m* @ 2.45% copper (Cu) from surface (drill hole ST97-08), and
56.3m* @ 3.07% Cu from 12.2m (drill hole ST99-19);
• Latest drill holes have intersected wide intervals of visual copper minerali zation,
including:
o ST22-03 has intersected 74.6m * of mineralization, including 15.13m * of
breccia and massive copper sulfides over multiple intervals;
o ST22-04 has intersected 43.7m * of mineralization including 24.5m * of
breccia and massive copper sulfides over multiple intervals;
o ST22-05 has intersected 65m* of mineralization including 25.2m* of breccia
and massive copper sulfides over multiple intervals; and
o ST22-06 has intersected 59m * of mineralization including 15m * of breccia
and massive copper sulfides over multiple intervals.
Figure 1: Massive bornite from approximately 50.9m downhole in drill hole ST22-05.
“Drilling at Storm has produced outstanding results in all six holes drilled so far this season,”
stated Thomas Ullrich, CEO of Aston Bay. “These significant new results continue to
demonstrate the continuity between historical copper intersections at the 2750N Zone, where our
partner is working to define a copper resource. Drilling will soon shift to test geophysical
anomalies for similar mineralization in other areas as well as targets that may represent feeder
zones for the near-surface mineralization.”
Figure 2: Drilling underway on drill hole ST22-02 at the 2750N Zone, Storm Copper Project. View looking west.
Drill holes ST22-03, ST22-04, ST22-05 and ST22-06 were completed in the 2750N Zone and
have all successfully intersected thick zones of breccia and massive sulfides (mostly chalcocite)
hosted within much broader intervals of vein- and fracture-style copper mineralization.
A total of 789m of drilling has been completed to date within the shallow and high-grade 2750N
Zone; drilling continues to confirm the continuity and thickness of the mineralized system.
Mineralization encountered within the latest drill holes shows similar zonation of the copper
bearing minerals with chalcocite being the dominant mineral, and with chalcopyrite, bornite,
covellite and minor oxides being present within certain intervals.
The 2750N Zone is the focus of initial resource work to define resources for a potential open-pit
direct shipping product (DSP) mining operation. Initial ore sorting test work on mineralization
from Storm generated a DSP product grading more than 53% Cu (see news release dated April
11, 2022).
The combination of high-grade and shallow mineralization at Storm provides a potential pathway
to a very small footprint, ESG sensitive mining operation scenario with the potential for low
initial capital and operating costs.
Figure 3: Plan of the 2750N Zone - Drilling, known mineralization and known copper gossans overlaying aerial
photography. Note that the 2750N Zone and the gossan to the west are cut by a gully (interpreted fault).
Drill Hole ST22-03
ST22-03 was drilled to a downhole depth of 119m. The drill hole was designed to test the eastern
continuity of mineralization between historical drill holes ST99-22 and ST97-08. These two
historical drill holes are situated approximately 95m apart (Figure 3).
Table 1 summarizes the mineralization as observed in ST22-03. Intersections are expressed as
downhole widths and are interpreted to be close to true widths. Visual estimates of sulfide type,
quantity and habit should not be considered a substitute for laboratory assays. Laboratory assays
are required to determine the widths and grade of mineralization as reported in preliminary
geological logging.
Hole
ID
From
(m) To (m) Min Description (Sulfide volume within interval)
ST22-03 0 11.3 chpy? Veinlets in massive dolomite (1%)
11.3 12.4 chpy/cc/py? Massive sulfide breccias (30-40%)
12.4 14 chpy/cc/py? Veinlets and local brecciations (5-10%)
14 29 cc/chpy/py/Cu? Veinlets and breccias. Localised heavy cemented breccias and native
copper (1-2.5%)
29 47.9 cc/chpy/py/Cu? Veinlets including red oxide mineral (Cuprite or native copper?)(1%)
47.9 50.13 cc/chpy/cv/ml Vugs with red oxide mineral grading to massive sulfides (5- >50%)
50.13 50.9 cc/cv/ml Veinlets throughout rock mass (1-2.5%)
52.1 60 ml Vugs of malachite within a set of large carbonate veins throughout
interval (1%)
97.2 109.1 ml Veins and brecciations (1%)
Table 1: Description of intervals with visually identified mineralization in drill hole ST22-03. Mineralogy
key is cc = chalcocite, bn = bornite, chpy = chalcopyrite, py = pyrite, Cu = native copper, ml = malachite,
cv = covellite
Drill Holes ST22-04 and ST22-05
ST22-04 and ST22-05 were drilled on the same section to test the vertical continuity of the
mineralization in the eastern portion of the system. ST22-04 was drilled to 146m and ST22-05
was drilled to 89m.
Both drill holes have intersected similar geology and mineralization, which provides strong
confidence in the continuity of the main zone through this section of the 2750N Zone.
Tables 2 and 3 summarize the geology as observed in ST22-04 and ST22-05. Intersections are
expressed as downhole widths and are interpreted to be approximately 75-80% of true width.
Visual estimates of sulfide type, quantity and habit should not be considered a substitute for
laboratory assays. Laboratory assays are required to determine the widths and grade of
mineralization as reported in preliminary geological logging.
Hole
ID
From
(m) To (m) Min Description (Sulfide volume within interval)
ST22-04 27.2 28.5 chpy/py? Massive, fine-grained sulfides grading to laminated massive sulfides
(>50%)
28.5 31 cc Local breccia with chalcocite and calcite cement (1-2%)
31 38 cc/chpy Local breccia and veinlets (1%)
38.5 40.5 cc/chpy Brecciated dolomite with local veinlets (2-5%)
43.6 45.3 chpy Trace veinlets along fractures (1%)
45.3 51 chpy/cc/py? Massive sulfides (>40%)
51 54 cc Local breccias and zone of rubble, broken down breccia (1%)
54 63 chpy Sulfide veins throughout grading to massive beds of chalcocite
downhole (5-10%)
69.5 75 chpy Veined and brecciated with sulfide matrix (1-2%)
79 85 cc/Cu/ ml Increasing abundance of sulfides within veins and fractures (2-5%)
Table 2: Description of intervals with visually identified mineralization in drill hole ST22-04. Mineralogy
key is cc = chalcocite, bn = bornite, chpy = chalcopyrite, py = pyrite, Cu = native copper, az = azurite, ml
= malachite, cv = covellite
Figure 4: Drill core from ST22-04 between 40.32m to 53m downhole.
Hole
ID
From
(m) To (m) Min Description (Sulfide volume within interval)
ST22-05 24 37.8 cc/chpy Veined and cemented brecciated with sulfide matrix (1-2%)
37.8 42.5 cc/chpy Massive sulfides grading downwards to intensive veins and
brecciation (5-40%)
42.5 48 cc/chpy/py? Rubble with vein sulfide mineralization (1-2%)
48 53 bn/chpy/cv Massive sulfides and zones with large and abundant sulfide veins
(50%)
53 54 bn/chpy Sulfides along fractures (1-2%)
54 65 chpy Strongly fractured and veined (5-10%)
65 74 cc/chpy Occasional fractures and vein of sulfides (1%)
74 78.5 cc Cemented sulfide breccia (5-10%)
78.5 82 cc Localised breccias and fractures (1%)
Table 3: Description of intervals with visually identified mineralization in drill hole ST22-05. Mineralogy
key is cc = chalcocite, bn = bornite, chpy = chalcopyrite, py = pyrite, Cu = native copper, az = azurite, ml =
malachite, cv = covellite
Figure 5: Massive and fracture-fill chalcocite, bornite and chalcopyrite from approximately 45.9m to
61.5m downhole in drill hole ST22-05.
Figure 6: Close-up of massive and fracture-fill bornite and chalcocite from approximately 50m downhole
in drill hole ST22-05.