Large copper system at depth confirmed by assays with up to 3.7% Cu
Drilling Highlights
- Deep diamond drilling has discovered Cyclone-style copper mineralization at depth and confirmed the prospectivity of the Central Graben area
- Drill hole ST24-01 has intersected:
- 10m @ 1.2% copper (“Cu”) from 311 metres (“m”) downhole, including,
- 3m @ 2.2% Cu from 315m downhole, including,
- 0.5m @ 3.7% Cu from 315.5m downhole
- 3m @ 2.2% Cu from 315m downhole, including,
- 10m @ 1.2% copper (“Cu”) from 311 metres (“m”) downhole, including,
- The drilling confirms the large lateral extent of the Storm copper system at depth and highlights the potential of the ‘Deep Copper Horizon’ to host large-scale stratigraphic hosted high-grade copper deposits
- Assays for a second deep diamond drill hole ST24-02 – drilled approximately 1,500m south of ST24-01 and which intersected 99.2m of visual copper sulfide – are expected in the coming week
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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.
TORONTO, Ontario, September 20, 2024 – Aston Bay Holdings Ltd. (TSXV: BAY) (OTCQB: ATBHF) (“Aston Bay” or the “Company”) is pleased to provide an update on drilling activities at the Storm Copper Project (“Storm” or the “Project”) on Somerset Island, Nunavut. The exploration program is being conducted by American West Metals Limited (“American West”), who is the operator of the Project. Aston Bay and American West have formed a 20/80 unincorporated joint venture in respect of the Storm Project property, with Aston Bay maintaining a free carried interest until a decision to mine upon completion of a bankable feasibility study.
Thomas Ullrich, Chief Executive Officer of Aston Bay, commented:
“The first deep drill hole of the year adds another success to the 2024 exploration program at Storm. The style of copper mineralization intercepted, and its stratigraphic location is similar to Cyclone – this may be the fault-offset southern portion of the deposit and could add to a potential future resource.
“In addition to extensions to known mineralization, this discovery highlights the discovery potential of the deeper stratigraphic levels in the Central Graben area, an expanse of over ten square kilometres. Every deep drill hole has hit copper mineralization at approximately the same depth, and we continue to improve our geophysical modeling to hit thicker and higher-grade intercepts in this very large and prospective horizon.
“The value of these deeper discoveries is not limited to the potential value of the copper alone. The geophysical signature of exploration success that we obtain from these drill holes will be fed back into the model to further refine our targeting for even better copper intercepts at depth.”
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