Aston Bay: Drilling outside of known mineralisation demonstrates potential

The success story at the Storm Copper Project on Somerset Island in the Canadian province of Nunavut continues outside the known mineralisation. In holes drilled beyond the identified deposits, partners American West Metals and Aston Bay (TSX.V: BAY, FSE: 6AY, WKN: A2AUFP) again intersected high copper grades.

Three additional drill holes have now been assayed and the results are encouraging, indicating that the limits of the mineralisation identified at the Cyclone deposit have not yet been reached. This suggests potential for further discoveries in this area.

Drill hole SR24-093, collared 75 metres south of the currently known mineralisation, intersected 3.9% copper over a length of 53.3 metres. The mineralised zone starts at a depth of 86.9 metres and, in addition to copper, also contains 12.6 g/t silver. Over a length of 22.9 metres, the copper content increases to 8.5% and the silver content to 17.8 g/t. A 9.1-metre zone even contains 14.4% copper and 21.3 g/t silver.

Drill hole SR24-070 was also successful. It intersected an average of 1.9% copper and 9.4 g/t silver at just 35.1 metres depth. It has a total length of 45.7 metres. The mineralisation here is particularly strong right from the start, with copper levels of 3.1% and 14.6 g/t silver over 27.4 metres and 4.2% copper and 16.2 g/t silver over 15.2 metres.

SR24-045, the third drill hole, also produced convincing results, with 57.9 metres of 1.0% copper and 4.3 g/t silver. Over a distance of 10.7 metres, the copper content increased to 3.2%, while the silver content rose to 16.0 g/t. In this drill hole, too, the mineralisation starts very close to the surface at only 32 metres, and the higher mineralised interval also starts quite high at an initial depth of 65.5 metres.

In the summer months, transport by sea is an option for the Storm project

However, it is not only the drilling results that are crucial for future production. An important criterion will also be the question of how the material mined here in the far north of Canada can be processed and shipped. American West and Aston Bay Holdings are therefore addressing this question at a very early stage.

Logistics play a major role in this and the two partners were pleased to note that the NEAS cargo ship MV Mitiq successfully completed the 2024 sea transport for Storm. Large quantities of supplies and materials for exploration and the intended resource expansion were delivered. They were shipped to Somerset Island and landed directly on the beach.

This has significantly reduced transport costs and saved an estimated four million US dollars in the budget for the 2025 drilling and development programme. However, not only prepared supplies and equipment were delivered, but also copper-bearing bulk samples were transported from the cargo ship. In doing so, the partners proved that it is possible to set up a complete logistics chain here in Canada’s Arctic North. This not only saves costs for future exploration programmes, but also demonstrates that the planned direct shipment of the mined ores or a concentrate produced on the property with little effort is possible.

Bright prospects for the future

Both the drilling and the reports on the successful landing of material and the successful removal of ore are encouraging and bode well for the future, as the mineralisation is larger than previously thought and supplying the project with the necessary goods is not rocket science. The sea transport tried out for the first time this year shows that ships can reach the project during the warm season and transport equipment on the outward journey and bulk material from the project on the return journey.

This is not a trivial matter of course in this part of the country, where the nearest port is miles away. The knowledge gained now and in the coming years will certainly play a major role in future programmes and development plans.