Aston Bay Announces Thick Intersections of Copper Mineralization in Initial Drillholes at Storm Project, Nunavut
Aston Bay Announces Thick Intersections of Copper Mineralization in Initial
Drillholes at Storm Project, Nunavut
TORONTO, ON, July 25, 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 copper mineralization for the first two 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 the option agreement with Aston Bay in March 2021.
Highlights
• Visual geological observations of the first two diamond drill holes at the high-grade
Storm Copper Project indicate that both holes have intersected extensive copper
sulfide mineralization near-surface;
• ST22-01 has intersected 72.1metres (m) core length of mineralization including
23.74m core length of breccia and massive copper sulfides over multiple intervals;
• ST22-02 has intersected 81.22m core length of mineralization including 22. core
length of breccia and massive copper sulfides over multiple intervals;
• Drilling at Storm continues with an additional 15-20 diamond drill holes planned to
test priority high-grade copper targets, including a number of new electromagnetic
(EM) conductors that have the potential to deliver new sulfide copper discoveries;
and
• Shallow high-grade copper mineralization at Storm has the potential to support a
low-footprint direct shipping product (DSP) operation.
Figure 1: Massive and breccia-filling chalcocite (dark grey/black) in dolomite (light grey) in drill hole ST22-01.
“Drilling at Storm has produced outstanding results in the initial two drill holes, with over 72m
of dominantly chalcocite mineralization visible in the core from drill hole ST22-01 and over 81m
of similar mineralization visible in ST22-02,” stated Thomas Ullrich, CEO of Aston Bay. “These
are significant results and demonstrate the continuity between historical copper intersections at
the 2750N Zone, where our partners are working to define a copper resource. Previous ore
sorting test work has demonstrated that the area can produce a high-value >53% copper direct
ship product, highlighting the potential to support a low cost and low footprint direct ship mining
development option.”
Figure 2: Drilling underway on drill hole ST22-01 at the 2750N Zone, Storm Copper Project.
Drill holes ST22-01 and ST22-02 have successfully intersected thick zones of breccia with
locally narrow zones of semi massive to massive chalcocite (copper sulfide) hosted within much
broader intervals of vein and fracture style copper mineralization. Laboratory assays are pending
and required to confirm the copper content in the drill core.
The drill holes are part of the extensional and resource definition drilling program for the 2750N
Zone where historical drilling has encountered significant copper mineralization, including 110m
core length at 2.45% copper (Cu) from surface (drill hole ST97-08), and 56.3m core length @
3.07% Cu from 12.2m (drill hole ST99-19). Significantly, the 2750N Zone copper mineralization
remains open at depth and along strike with further drilling planned.
The results from ST22-01 and ST22-02 confirm the continuity of the near-surface mineralization
in this area and provide strong support for the potential to delineate a shallow, high-grade
resource at the 2750N Zone.
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 low 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 outline, known copper gossans overlaying aerial
photography
DRILL HOLE ST22-01 DETAILS
ST22-01 is the first hole to be completed as part of the 2022 program and was drilled to a
downhole depth of 128m.
The drill hole was designed to test the continuity of thick mineralization intersected in historical
drill holes ST97-08 and ST99-19. These two historical drill holes are situated approximately
100m apart (Figure 3).
ST22-01 intersected over 72.1m of chalcocite and chalcopyrite mineralization hosted within
dolomite of the Allen Bay Formation. This host unit is present throughout the Storm Project area
and is comprised of massive-to-thinly bedded dolomicrites (dolomitized limestone).
The mineralization encountered within ST22-01 is comprised of six zones of breccia to massive
sulfides hosted within a broad mineralized package of mostly vein and fracture style
mineralization. Fracturing and sulfide mineralization are likely controlled by graben formation,
which is interpreted to be located immediately south of the 2750N Zone.
Figure 4: Drill core from ST22-01 between 26.39m and 42.08m downhole showing massive and breccia-filling
chalcocite (dark grey) hosted within dolomite (pale grey).
The dominant copper mineral observed within ST22-01 is chalcocite, with minor local
chalcopyrite and other copper sulfide minerals.
Chalcocite is an important copper mineral due to its high copper content (79.8% copper) and
favorable metallurgical properties. The simple mineralogy of the Storm mineralization is a
further feature that makes it amenable to producing a high-grade direct shipping product.
Mineralization as observed in ST22-01 is summarized in Table 1. Intersections are expressed as
downhole widths and are interpreted to be close to true widths. Visual estimates of sulfide
quantity and habit should not be considered a substitute for laboratory assays.
Hole ID From (m) To (m) Min Description (Sulfide volume within interval)
ST22-01 19.5 22.74 cc Breccia and cement sulfide-filled fractures (20%)
22.74 24 cc/py Sulfide in fractures (5%)
26 27 cc Sulfide in fractures (1%)
27 32.18 cc Heavily brecciated and vein sulfide (10-20%)
32.18 35.92 cc/chpy Locally brecciated and minor sulfide veining (2-5%)
35.92 44 cc Heavily fractured with abundant brecciations, zones of
massive sulfide (5-40%)
44 47.66 cc Minor fractures and blebs of sulfide (5%)
47.66 53 cc/chpy
Abundant veins and breccias with local beds of massive
sulfide (10-15%). Chalcopyrite is present as blebs with
chalcocite
53 65 cc/chpy Veins of chalcocite grading into chalcopyrite at 56.5m (2-
5%)
65.4 66.3 chpy High density veinlets and massive sulfide layers (5-40%)
66.3 90 chpy/cc Fracture and veinlet sulfides throughout unit (1-5%)
91 92 cc Black and sandy sulfide, rubbly (20-30%)
92 95 cc/Cu Minor sulfide bands and fractures. Native copper present
along some fractures (1%)
Table 1: Description of intervals with visually identified mineralization in drill hole ST22-01. Mineralogy key is cc
= chalcocite, chpy = chalcopyrite, py = pyrite, Cu = native copper, az = azurite, ml = malachite
DRILL HOLE ST22-02 DETAILS
ST22-02 was drilled to a downhole depth of 155m. The drill hole was also designed to test the
continuity of mineralization between drill holes ST97-08 and ST99-19.
ST22-02 has intersected similar geology and mineralization to that of ST22-01, suggesting
continuity of the main ore zone.
Mineralization observed is summarized in ST22-02. Intersections are expressed as downhole
widths and are interpreted to be approximately 75-80% of true width. Visual estimates of sulfide
quantity and habit should not be considered a substitute for laboratory assays.
Hole ID From (m) To (m) Min Description (Sulfide volume within interval)
ST22-02 0 5 ml Trace malachite in overburden (1%)
5 14 cc, ml Veinlets, occasional breccia, increase in mineralization
abundance towards bottom (1-5%)
14 15 cc Massive and cemented chalcocite (40-50%)
15 18.5 cc Veinlets and fracture filled cemented breccia (1-2.5%)
18.5 32.4 cc,
chpy Strongly brecciated and veined (5-20%)
32.4 34.3 chpy,
bn, cv
Veinlets of chalcocite with local cemented covellite
breccia (5%)
34.3 35.2 cc, cv Massive sulfides with dolomite clasts (>50%)
Figure 5: Drill core from ST22-02 between 13.6m and 21m downhole (top image) and between 29.5m and 36.5m
downhole (bottom image) showing massive and breccia chalcocite (dark grey) hosted within dolomite (pale grey).
36.2 38 cc/chpy Abundant cemented breccia (>50%)
38 53 cc Intermittent veinlets and occasional breccia (1-5%)
53 56.12 cc Local zones of breccia (5%)
61.5 63 ml, bn,
cc Occasional veinlets (1%)
63 64 cc,
chpy Abundant breccias (5-7%)
73 80.4 cc Massive dolomite with trace veinlets (1%)
82.2 82.6 cc Massive breccia (>50%)
82.6 83.5 cc Minor veinlets (1-2.5%)
87.5 92 cc, ml Small fractures lined with sulfides and irregular veins (1-
5%)
97.6 104 ml Trace malachite in vugs in dolomite (1%)
133 137 ml Malachite in calcite veins throughout massive dolomite
(1%)
Table 2: Description of intervals with visually identified mineralization in drill hole ST22-02. Mineralogy key is cc
= chalcocite, chpy = chalcopyrite, Cu = native copper, az = azurite, ml = malachite, bn = bornite, cv = covellite
Hole ID Prospect Easting Northing Depth (m) Azi Dip
ST22-01 2750N 466230 8172841 128 180 -50
ST22-02 2750N 466202 8172763 155 360 -65
Table 3: Drill hole details
Drilling Continues
The diamond drilling is continuing at the 2750N Zone with drill holes now targeting eastern
extensions to the mineralization.
Preparations are also underway for drill testing a number of high-priority EM conductors that
were identified by the 2021 fixed loop electromagnetic (FLEM) survey within the Storm Project
area.
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,
28.7g/t Ag from 51.8m and 22.3m* @ 23% Zn, 5.1g/t Ag from 101.5m). Additionally, there are
numerous underexplored targets within the 120-kilometre strike length of the mineralized trend,
including the Tornado copper prospect where 10 grab samples yielded >1% Cu up to 32% Cu in
gossans.
*Stated drillhole intersections are all core length, and true width is expected to be 60% to 90%
of core length.