Aston Bay Reports New High Priority EM Targets at the High-Grade Storm Copper Project, Nunavut
FOR IMMEDIATE RELEASE TSX-V: BAY; OTCQB: ATBHF
Aston Bay Reports New High Priority EM Targets at the
High-Grade Storm Copper Project, Nunavut
December 13, 2021 - Aston Bay Holdings Ltd. (TSX-V:BAY; OTCQB:ATBHF) (“Aston Bay” or the “Company”)
is pleased to report the preliminary results of the recent ground electromagnetic (EM) geophysical surveys
at the Company’s high-grade Storm Copper Project on Somerset Island, Nunavut. The surveys identified
numerous conducti ve anomalies throughout the Storm Copper area including multiple discrete
conductors previously untested by drilling.
Highlights
• Numerous shallow conductors identified coincident with drill confirmed high -grade copper
mineralization
• Seven new untested shallow conductors of interest identified
• Seven new broad, untested deeper conductors of interest also identified
• The survey confirms the growth potential of the Storm high-grade copper system
The 2021 EM surveys, commissioned by Aston Bay’s partner American West Metals Limited (“American
West”), targeted extensions along strike and at depth of known mineralization, and followed up on
previous geophysical anomalies. The surveys were completed in August 2021 to enhance existing targets
and identify new potential drill targets ahead of the proposed 2022 drilling campaign. Previous EM surveys
have successfully identified several strong conductive anomalies that are associated with known copper
mineralization in the Storm Project area, including a large conductive anomaly associated with the high-
grade 4100N Zone (intercepts include 67.6 m @ 1.33% Cu from 43.4 m in hole ST99-47).
The 2021 EM surveys confirmed the correlation between elevated conductivity and high-grade copper
mineralization at the main Storm Copper showings, producing numerous shallow conductors coincident
with drill confirmed mineralization. Known high-grade copper mineralization at Storm is hosted in gently
dipping Paleozoic carbonate rocks, along and adjacent to the northern and southern margins of a west -
northwest to east-northeast trending, ~1 km wide, fault -bounded valley or graben. Inversion and plate
modelling of the EM data also defined multiple prospective conductors associated with the Storm graben
within areas previously untested by drilling.
Thomas Ullrich, CEO of Aston Bay commented, “The initial results of the 2021 geophysical surveys
demonstrate the efficacy of ground EM as an exploration tool at Storm, and further reinforce our belief
that undiscovered, blind zones of high -grade copper mineralization exist in underexplored areas of the
Project. Utilizing modern instrumentation capable of resolving anomalies with improved resolution and at
greater depth than previous surveys has enabled our partners at American West to identify multiple new
conductors warranting follow up work, including several drill-ready targets. We look forward to continuing
our work with American West’s technical team to refine targets identified by the 2021 survey, and to plan
additional geophysical surveys and new targets ahead of a proposed 2022 drill campaign.”
Seven untested shallow conductors of interest were identified (Figures 1 and 2; dark blue rectangles): two
east along strike from the 2200N and 2750N zones, two west-northwest along strike from the 4100N Zone,
one immediately west of the drilled area o f the 4100N Zone conductive anomaly, one northeast of the
4100N Zone, and one northeast of the 3500N Zone . All seven untested shallow conductors are located
along or in close proximity to the bounding faults of the Storm graben, in areas of elevated density
identified by the 2017 airborne gravity gradiometry (AGG) survey (see Aston Bay News Release s dated
November 30, 2017 and June 21, 2018). The conductors east of the 2200N and 2750N zone are also
associated with significant copper in soil geochemical anomalies.
Seven untested deeper conductors of interest were also identified in the Storm Copper area (Figures 1
and 2; dark green rectangles) . These broad, low -amplitude anomalies are generally at least partially
associated with areas of elevated density identified by the 2017 AGG survey . Six of the seven anomalies
are located along or adjacent to the bounding faults of the Storm graben. The geometry and mostly gentle
dips of the modelled deep conductors suggest that they may be related to stratifo rm type targets, and
may be indicative of traditional sedimentary type copper mineralization at depth. Given the highly
resistive nature of the host dolomites, even subtle conductors are considered to be prospective when
combined with coincident geochemical or airborne gravity anomalies.
Figure 1. Plan view of the Storm graben area showing the 2021 ground EM survey results : shallow plate
modelled conductors ( dark magenta), deep plate modelled conductors ( dark green), and previous drill
results. Background image is EM resultant field channel 12.
Figure 2. Northwest-facing isometric view of the Storm graben area showing the 2021 ground EM survey
results: shallow plate modelled conductors (dark magenta), deep plate modelled conductors (dark green),
and previous drill results. Background image is EM resultant field channel 12.
BACKGROUND AND TECHNICAL DISCUSSION
Two distinct types of mineralization have been discovered at the Project to date (Figure 3).
Storm:
The copper mineralization at Storm is c halcocite dominant and occurs as massive sulphides in breccias
and veinlets within, or immediately adjacent to, sub-vertical faults. Although chalcocite (and chalcopyrite)
are relatively low in conductance (when compared to some other sulphides), the dolom ite host rocks
generally have no EM response and therefore the contrast between the two is sufficient to allow EM to
be an effective targeting tool.
The are no other conductive lithologies present in the Storm area, which increases the confidence that
any anomalies may be related to copper mineralization.
Seal:
The mineralization present within the Seal Deposit is stratabound where sphalerite occurs as massive
sulphide replacement of the host dolomite and sandstone cements. Sphalerite and the host rocks
generally have very low conductivity, and a test survey was completed to confirm if any contrasts between
the different units were visible.
Figure 3: Schematic geological section and targeting model for the Storm and Seal Projects. The project
currently contains stratiform zinc and structurally controlled copper mineralization, and it is believed a
stratiform source of the Storm copper mineralization may be present at depth.
Success of Geophysical Surveys:
A number of geophysical techniques have been used to explore the Storm and Seal Project areas and
wider tenure since the first copper and zinc discoveries in the early 1990’s.
Electromagnetics were proven to be an effective exploration tool when the Storm area was first surveyed
with airborne EM in 1997. This survey determined a clear relationship between known, outcropping
copper mineralization with newly identified EM anomalies. Subsequent higher resolution airborne and
surface EM surveys, backed up by drilling, further confirmed this association.
The 2021 EM surveys utilised a time domain electromagnetic (TDEM) system featuring low noise / high
power and were completed using a fixed conventional loop configuration. A total area of approximately
18km2 was completed for 945 stations, with a nominal station spacing of 100m at the Storm Copper
prospect and 50m at the Seal Zinc deposit. Infills on a number of prospects at Storm were completed at
50m spacings.
The results of three EM survey lines over the high-grade zinc-silver Seal deposit indicated that the known
mineralization at Seal is not visible to this particular EM system, and therefore no anomalies could be
identified in the vicinity of the deposit. Whil e this work does not preclude other EM systems effectively
being used to explore around Seal, the nearby Tier 1 Polaris Zinc-Lead deposit was discovered using gravity
surveys, and this will continue to be the preferred geophysical tool for testing the extensive Seal
stratigraphic horizon.
Further ground EM surveys will be planned for the 2022 season to screen the Tornado and Blizzard areas.
These areas lie east along strike from Storm and have existing copper in soil and gravity (AGG) anomalies.
Methodology and QA/QC
The 2021 Storm Project surface time domain electromagnetic (TDEM) survey was completed using a fixed
conventional loop configuration (in and out of loop), with a nominal station spacing of 100 m with 50 m
infills at the Storm Copper prospect, and 50 m at the Seal Zinc deposit. Storm loops 1 through 10 were
sized 1,000 m by 1,000 m oriented at a 0° azimuth. Seal loop 11 was sized 400 m by 200 m oriented at a
45° azimuth. A Geonics TEM57 MK -2 transmitter with TEM67 boosters was used in conjunction with a
portable Honda generator to produce a maximum output of 1.2 kW or 20 A or 60V. The Storm loops
carried a current of 13 -14 A and the Seal loop carried a current of 19.5 A. An ARMIT Mk2.5 sensor and
EMIT SMARTem 24 receiver were used to measure and collect vertical (Z) and horizontal (X and Y)
components of the B-Field and its partial derivative dB/dt. EMIT Maxwell software was used for QC, data
processing, modelling, presentation and interpretation of the results. Seequent Montaj software was used
for additional interpretation and to produce coloured maps.
Prior to the survey, the transmitter and gen erator were checked for maximum output using calibrated
loads. Receivers were calibrated and synchronized to the transmitter prior to and during data acquisition.
Polarity of the primary field components was checked and corrected, as necessary. All data we re
inspected, validated, and inspected for abnormal or problematic noise. No abnormal or problematic noise
was observed.
About the Storm Project
The Storm Project consists of 117 contiguous mining claims and 6 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 18.8m @ 10.58% Zn, 28.7g/t Ag from 51m and 22.1m @ 6.62% Zn, 27.1g/t Ag
from 27.1m ). As well, there are numerous u nderexplored targets /prospects within the 120km strike
length of the mineralized trend, including the Tornado copper prospect where 10 grab samples yielded
>1% Cu up to 32% Cu in gossans.
American West Metals Limited has an option to earn an 80% interest in the Storm Project (see March 9,
2021, Aston Bay press release), and is sole funding the exploration activity currently underway.
For more information on the Storm Project, see the technical report “ Initial Mineral Resource Estimate
and Technical Report for the Seal Zinc Deposit, Aston Bay Property, Somerset Island Nunavut ” by P&E
Mining Consultants Inc. dated January 17, 2018 with an effective date of October 6, 2017, which was filed
on the Company’s SEDAR profile on January 17, 2018.
Qualified Person
Michael Dufresne, M.Sc., P.Geol., P.Geo., is a qualified person as defined by National Instrument 43-101
and has reviewed and approved the scientific and technical information in this press release.
About Aston Bay Holdings Limited
Aston Bay is a publicly traded mineral exploration company exploring for gold and base metal deposits in
Virginia, USA, and Nunavut, Canada. The Company is led by CEO Thomas Ullrich with exploration in Virginia
directed by the Company's advisor, Don Taylor, the 2018 Thayer Lindsley Award winner for his discovery
of the Taylor Pb-Zn-Ag Deposit in Arizona.
The Company has acquired the exclusive rights to an integrated dataset over certain prospective private
lands and has signed agreements with timber and land companies and other private landowners which
grants the company the option to lease the mineral rights to over 10,000 acres of land located in central
Virginia. These lands are located within a gold -copper-lead-zinc mineralized belt prospective for
mesothermal gold deposits and Virginia gold-pyrite belt deposits, as well as VMS, sedimentary exhalative
(SEDEX) and Broken Hill (BHT) type base metal deposits. Don Taylor, who led the predecessor company to
Blue Ridge and assembled the dataset, has joined the Company’s Advisory Board and will be directing the
Company’s exploration activities for the Blue Ridg e Project. The Company is actively exploring the
Buckingham Gold and Mountain Base Metals Projects in Virginia and is in advanced stages of negotiation
on other lands in the area.
The Company is also 100% owner of the property Storm Project, which hosts t he Storm Copper Project
and the Seal Zinc Deposit and has been optioned to American West Metals Limited.
About American West Metals Limited
American West is a new Australian company with a vision to build a modern and clean base metals
business. The Compan y recently completed its IPO and listed its securities on the Australian Securities
Exchange (ASX) on 13 December 2021 under ASX ticker AW1.
American West has acquired an interest in three base metals projects in North America which it believes
have potential to generate significant economic resource inventories and robust mining proposals:
1. The West Desert Project in Utah, USA;
2. The Storm Copper and Seal Zinc Projects in Nunavut, Canada; and
3. The Copper Warrior Project in Utah, USA.
For further information on American West, see www.americanwestmetals.com .
FORWARD-LOOKING STATEMENTS
Statements made in this news release, including those regarding the Option Agreement, grant of the
Option and the expected closing date, American West’s interest in the Storm Project and its other
acquisitions and plans, plans for the upcoming field season, management objectives, forecasts, estimates,
expectations, or predictions of the future may constitute “forward -looking statement”, which can be
identified by the use of conditional or future tenses or by the use of such verbs as “believe”, “expect”,
“may”, “will”, “should”, “estimate”, “anticipate”, “project”, “plan”, and words of similar import, including
variations thereof and negative forms. This press release contains forward-looking statements that reflect,
as of the date of this press release, Aston Bay’s expectations, estimates and projections about its
operations, the mining industry and the economic environment in which it operates. Statements in this
press release that are not supported by historical fact are forward -looking statements, meaning they
involve risk, uncertainty and other factors that could cause actual results to differ materially from those
expressed or implied by such forward -looking stateme nts. Although Aston Bay believes that the
assumptions inherent in the forward -looking statements are reasonable, undue reliance should not be
placed on these statements, which apply only at the time of writing of this press release. Aston Bay
disclaims any intention or obligation to update or revise any forward -looking statement, whether as a
result of new information, future events or otherwise, except to the extent required by securities
legislation.
FOR ADDITIONAL INFORMATION CONTACT:
Thomas Ullrich, Chief Executive Officer
(416) 456-3516
Sofia Harquail, IR and Corporate Development
(647) 821-1337