Aston Bay drills 4.18% copper over 41 metres at Storm project, Nunavut

Aston Bay drills 4.18% copper over 41 metres at Storm project, Nunavut
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TORONTO – Aston Bay Holdings Ltd. [BAY-TSXV; ATBHF-OTCQB] reported the first assay results from drilling at the company’s high-grade Storm Copper Project on Somerset Island, Nunavut. This is the maiden drilling program for American West Metals Limited who are the project operator, since entering an option agreement with Aston Bay in March 2021.

Highlights include drill hole ST22-05 from the 2750N Zone that intersected 41 metres of 4.18% copper from 38 metres downhole, including 15 metres of 10.05% copper from 47 metres downhole, and including 5 metres of 24.28% copper from 48 metres downhole. Further assays for Storm are expected in the coming days.

“The initial assay results from the 2022 drilling program at the 2750N Zone are impressive and demonstrate the quality of the mineralized system,” stated Thomas Ullrich, CEO of Aston Bay. “The spectacular copper grades over significant thicknesses validate the historic high-grade intersections in the zone, increasing the confidence in the continuity of the mineralization in an area where we are working with our partner American West toward defining a shallow copper resource that can support a low cost, small footprint direct shipping product mining operation. In parallel with moving the 2750N Zone toward development, this program’s discovery potential demonstrated by the intersection of a zone of stratiform sediment hosted style of copper is very exciting.”

Work will continue along parallel paths to progress the near-surface resource development at the 2750N/4100N/2200N Zones and the exploration/discovery potential for sediment hosted copper type deposits.

Further diamond drilling is planned to expand the 2750N Zone, and to define initial resources at the 4100N and 2200N Zones, where high-grade copper mineralization has also been intersected in historical drilling.

Exploration activities, including drilling and geophysics, are also planned to follow up on the significant new discovery of sediment hosted style copper mineralization, which is associated with a large electromagnetic (EM) anomaly to the west of the previously recognized and highly mineralized 4100N Zone.

Beneficiation and metallurgical test work will soon commence on drill core from this year’s program. The aim of this work is to create a definitive flow sheet for a direct shipping product operation from the 2750N Zone mineralization. Previous test work on Storm drill core has produced a >53% copper direct shipping product using a full-scale ore sorter.

Jan-Erik Back has resigned from the Board of Directors. The directors of Aston Bay have commenced a search for an appropriate replacement for Mr. Back. With immediate effect Thomas Ullrich has been appointed to the Audit Committee and Jessie Liu-Ernsting has been elected as Chair of the Audit Committee.

The Nunavut property consists of 117 contiguous mining claims and six prospecting permits covering an area of approximately 302,725 hectares. The Storm Project comprises both the Storm Copper Project, a high-grade sediment hosted copper discovery (intersections including 110 metres of 2.45% copper from surface and 56.3 metres of 3.07% copper from 12.2 metres) as well as the Seal Zinc Deposit (intersections including 14.4 metres of 10.58% zinc, 28.7 g/t silver from 51.8 metres and 22.3 metres of 23% zinc, 5.1 g/t silver from 101.5 metres). Additionally, there are numerous underexplored targets within the 120-km strike length of the mineralized trend, including the Tornado copper prospect where 10 grab samples yielded >1% copper up to 32% copper in gossans.

The company has a 100% interest in the Storm Project property, which hosts the Storm Copper Project and the Seal Zinc Deposit and has been optioned to American West Metals Limited.

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