Aston Bay Announces Initial Assays Confirming Thick Intervals of Copper Mineralization at the Storm Copper Project, Nunavut
Aston Bay Announces Initial Assays Confirming Thick Intervals of
Copper Mineralization at the Storm Copper Project, Nunavut
• Assays have been received for drill hole SR23-01, confirming a total of 28.9m of high-
grade copper mineralization, comprising:
o 15.2m* @ 1.2% Cu, including 4.6m @ 2.8% Cu from 54.9m, and;
o 7.6m* @ 1.2% Cu, including 3.1m @ 2.4% Cu from 79.3m, and;
o 6.1m* @ 1.1% Cu, including 3.1m @ 1.4% Cu from 120.4m (*downhole length)
• Another eight Reverse Circulation (RC) drill holes have been completed at the 4100N
Zone with all drill holes intersecting thick intervals of strong visual copper sulfide
mineralization
• The recent drilling at the 4100N Zone has defined strong near-surface copper
mineralization over 850m x 300m and remains open along strike
• RC drilling continues at Storm with further drill holes added to the resource definition
program at the 4100N Zone
• All current drill samples have been sent to the laboratory for analysis
TORONTO, ON / ACCESSWIRE / May 23, 2023 / Aston Bay Holdings Ltd. (TSXV:BAY)
(OTCQB:ATBHF) ("Aston Bay" or the "Company") reports initial assay results confirm thick
intervals of copper mineralization from its ongoing delineation drilling program at the Storm
Copper Project ("Storm" or the "Project") on Somerset Island, Nunavut, Canada. This is the
second 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.
"Impressive results continue to come in from the ongoing exploration conducted by our partner
American West Metals at Storm," stated Thomas Ullrich, CEO of Aston Bay.
"These assay results from the first reverse circulation drill hole of the season confirm the
presence of significant copper mineralization, exceeding the initial visual estimates. This
increases our confidence in both the core logging and our assumptions on the continuity of the
mineralization at the 4100N Zone.
"We look forward to continuing good news from the results of the ongoing drilling, as well as
from the interpretation of the recently completed geophysical programs now being processed."
Assay results have been received for drill hole SR23-01, the first hole of the current program,
and confirm the presence of thick intervals of near-surface copper sulfides. The assays indicate
that the mineralized intervals in SR23-01 have exceeded our visual estimations as reported in the
Company's May 9th, 2023, press release.
The drilling program is ongoing and continues to intersect significant lengths of visual copper
sulfide mineralization within the central and western portion of the known mineralized zone at
the 4100N Zone (see Table 1). Due to continuing success and an expansion of the mineralized
footprint, further drill holes have been added to the 4100N Zone program.
Visual estimates of mineral abundance 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. Portable XRF is used
as an aid in the determination of mineral type and abundance during the geological logging
process.
Hole
ID
Prospec
t
Eastin
g
Northin
g
Dept
h (m)
Azimut
h
Inclinatio
n
Visual Sulfide
Mineralizatio
n (m)
SR23
-01 4100N 464991 8174285 137.2 180 -65 28.9
SR23
-02 4100N 464990 8174157 140.2 180 -59 27.4
SR23
-03 4100N 465041 8174251 151 178 -65 48.7
SR23
-04 4100N 465045 8174166 152.4 179 -69 30.6
SR23
-05 4100N 464899 8174146 131.1 180 -66 16.7
SR23
-06 4100N 464899 8174261 166.1 180 -69 15.2
SR23
-07 4100N 464805 8174203 137.2 180 -71 13.7
SR23
-08 4100N 464726 8174286 118.9 180 -69 13.7
SR23
-09 4100N 464726 8174206 164.6 180 -69 32
SR23
-10 4100N 464638 8174315 125 180 -70 10.6
SR23
-11 4100N 464667 8174223 140.2 180 -70 25.9
SR23
-12 4100N 465115 8174317 149.4 179 -73 12.2
SR23
-13 4100N 465051 8174321 175.3 180 -65 18.3
SR23
-14 4100N 464948 8174227 160 180 -65 22.9
SR23
-15 4100N 464853 8174167 121.9 180 -65 24.3
SR23
-16 4100N 465138 8174247 132.6 180 -70 7.62
SR23
-17 4100N 465139 8174173 129.5 180 -66 19.8
Table 1: 2023 program drill hole details and copper mineralization summary. Note - depth in
metres has been converted from measurements in feet and is rounded. The "Visual Sulfide
Mineralization" data is based on laboratory assays for SR23-01 and visual estimates for the
remainder; length is downhole length.
ASSAYS CONFIRM GRADE AND THICKNESS OF COPPER MINERALIZATION
The assay results from drill hole SR23-01 have been received and confirm the intersection of
thick intervals of near-surface copper sulfides (Figure 1).
The assayed intervals of SR23-01 closely match and exceed the intervals that were identified
visually, validating the classification of strong visual copper sulfides (estimated to be >1% Cu)
during the logging process.
Figure 1: Geological section view at 465,000E showing the interpreted mineralization envelope
(>1% Cu) and recent drill hole assays and visual observations. Stated diamond drill hole
intersections (light blue text boxes) and RC dill hole intersections (dark blue text boxes) are all
core/downhole length, and true width is expected to be 60% to 95% of stated length.
DRILL HOLE SR23-01 DETAILS
SR23-01 was drilled to a downhole depth of 137.2m and was the first drill hole completed in the
2023 drill program. The drill hole forms part of a program that is designed to determine the
resource potential of the near-surface 4100N Zone (Figure 2 & 3).
The drill hole is located in the central portion of the 4100N Zone and was designed to test the
continuation of the mineralization between two historical drill holes, ST97-13 and ST00-63
(Figure 1).
SR23-01 intersected three zones of vein and fracture-style copper sulfide mineralization
interpreted to be near horizontal and hosted within fractured dolomite.
The sulfide abundance and grade of the mineralized intervals within SR23-01 are very similar to
that of the historical drill holes along section 465000E. This demonstrates good lateral continuity
of the mineralized zones and is a positive outcome for the resource potential at the 4100N Zone.
Figure 2: 3D orthographic view of the 4100N Zone, Storm Project, showing drilling (completed
and planned) and the interpreted >1% mineralization envelope defined in drilling. Stated
diamond drill hole intersection is core length, and true width is expected to be 60% to 95% of
stated length.
Table 2 below summarises the significant intersections from drill hole SR23-01. 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 sulfide
mineralogy, mineralization habit and expected beneficiation performance.
Hole ID From
(m)
To
(m)
Width Cu % Zn % Ag
g/t
SR23-01 47.2 62.4 15.2 1.2 - 2.3
Including 54.8 59.4 4.6 2.8 - 5
And 76.2 77.7 1.5 0.6 - 3
And 79.3 86.9 7.6 1.2 - 2.4
Including 82.3 85.4 3.1 2.4 - 3
And 106.7 108.2 1.5 0.5 9
And 120.4 126.5 6.1 1.1 - 2.3
Including 120.4 123.5 3.1 1.4 - 2
Table 2: Summary of significant drilling intersections for drill hole SR23-01 (>0.5% Cu)
DRILLING SUCCESS CONTINUES
Eight additional drill holes have been completed at the 4100N Zone and continue to highlight the
significant resource potential of the near-surface mineralization at Storm. Every drill hole to date
within the current program (17 drill holes) has intersected thick intervals of visual sulfides,
which have been confirmed to contain copper based on portable XRF analysis.
The mineralized footprint at the 4100N Zone has been shown by historical drilling to extend over
an area of approximately 32 hectares. The Company considers that there is an outstanding
opportunity to define a significant near-surface resource base that could support an initial low-
cost, open-pit mining operation.
Figure 3: Plan view of the 4100N Zone showing interpreted copper mineralization footprint
(defined by historical drilling and EM), historical and recent drilling, overlaying regional
geology. Stated diamond drill hole intersections (red text boxes) and RC dill hole intersections
(blue text boxes) are all core/downhole length, and true width is expected to be 60% to 95% of
stated length.
RECENTLY COMPLETED DRILL HOLE DETAILS
The latest drill holes (SR23-10, SR23-11, SR23-12, SR23-13, SR23-14, SR23-15, SR23-16 and
SR23-17) have continued to intersect thick intervals of copper sulfide mineralization within the
central and western parts of the 4100N Zone.
The mineralization is visually similar to the previous drill holes completed in the current
program and is characterized by thick zones of strong copper sulfide mineralization within a
broad mineralized package of vein, fracture and disseminated style mineralization. The
mineralized horizons are relatively flat lying, laterally extensive in nature and remain open along
and across strike.
Only the stronger visual mineralization has been reported in Table 1.
The dominant copper sulfide minerals observed within the drill holes to date are chalcocite, with
chalcopyrite and bornite also present in abundance. Minor native copper and copper oxides
(mostly malachite and cuprite) are also present.
The copper mineralization is hosted within distinctive horizons of the Allen Bay Formation,
which is comprised of massive to thinly bedded dolomicrites.
Drill hole SR23-16 has intersected copper sulfide mineralized rocks of the Allen Bay Formation
which are cut by a large fault in the lower portion of the drill hole. The interpreted fault consists
of clay and fractured dolomudstone and is evident in the geophysical data as a north-south
orientated feature. The mineralized copper horizons are continuous either side of the fault.
DRILL HOLE VISUAL LOGS
Intersections below are expressed as downhole lengths 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. Portable XRF analysis has been used to confirm the nature of the sulfide
intercepts. Laboratory assays are required to determine the widths and grade of mineralization as
reported in preliminary geological logging.
Mineralization key: cc = chalcocite, chpy = chalcopyrite, br = bornite, py = pyrite, Cu = native
copper, ct = cuprite, ml = malachite, sph = sphalerite, ga = galena. (5%) = visual estimation of
sulfide content.
Hole ID From
(m) To (m) Min Description
SR23-10 0.0 25.9 Cape Storm Formation
25.9 42.7 Allen Bay Formation
42.7 51.8 py trace fine disseminated and patchy py (0.5%)
51.8 61.0 py trace patchy py (0.2%)
61.0 68.6 py, cc,
co
fine patchy py with cc veinlets, rare co (0.8%)
68.6 76.2 py trace patchy py (0.2%)
76.2 79.2 py, cc fine patchy py with cc veinlets (1%)
79.2 85.3 py fine patchy py with fine cc veinlets (0.2%)
85.3 96.0 massive to weakly laminated dolomudstone
96.0 100.6 py trace fine disseminated py (0.1%)
100.6 125.0 Allen Bay Formation
Table 3: Summary geological log for drill hole SR23-10.
Hole ID From
(m)
To
(m) Min Description
SR23-11 0.0 33.5 Cape Storm Formation
33.5 41.1 py, chpy,
ml
trace chpy and py veinlets, minor ml (0.8%)
41.1 47.2 chpy, py abundant chpy veinlets and patchy py (1.5%)
47.2 53.3 massive dolomudstone
53.3 64.0 chpy, py,
cc
py and chpy veinlets with trace cc (0.8%)
64.0 73.2 cc, br,
chpy, py
abundant cc veinlets with patchy br, chpy and
veinlets of py (1.5%)
73.2 80.8 cc, py,
chpy
trace veinlets of cc, py and chpy (0.5%)
80.8 89.9 ml patchy minor ml (0.2%)
89.9 96.0 py weakly dolomitised wackestone with fine
disseminated py (0.8%)
96.0 114.3 laminated dolowackestone with bioturbation
114.3 140.2 Allen Bay Formation
Table 4: Summary geological log for drill hole SR23-11.
Hole ID From
(m)
To
(m) Min Description
SR23-12 0.0 50.3 Cape Storm Formation
50.3 54.9 py weakly recrystallized dolomudstone with fine
py veinlets (2%)
54.9 74.7 py, chpy, cc py veinlets, trace cc veinlets and patchy chpy
(0.8%)
74.7 89.9 cc, Cu, py cc veinlets with selvage and disseminated Cu,
minor patchy py (0.5%)
89.9 100.6 cc, Cu dark brown cherty dolomudstone to
dolowackestone, cc veinlets and selvage Cu
(0.8%)
100.6 105.2 Cu abundant fine disseminated Cu (1%)
105.2 112.8 cc, chpy, ga cc veinlets, patchy selvage chpy and ga (1%)
112.8 121.9 cc, chpy, py fine disseminated py, cc veinlets and selvage
chpy (0.5%)
121.9 129.5 weakly fractured massive dolomudstone
129.5 132.6 cc, Cu trace cc and Cu (0.2%)