On the path to the next discovery?
Aston Bay (TSX.V: BAY, FSE: 6AY, WKN: A2AUFP) has launched an exploration programme at its new Epworth copper-silver-zinc-cobalt project in Nunavut, Canada. This will include airborne geophysical surveys, extensive mapping of geological structures and ground sampling to identify drill targets.
The Epworth project is a sedimentary project located 80 kilometres southeast of the town of Kugluktuk. This is where Aston Bay Holdings intends to utilise a portion of the flow-through funds raised in the recent financing. Expenditures of over two million Canadian dollars (CAD) are planned, with additional funds available in addition to the proceeds from the issuance of flow-through shares.
The airborne electromagnetic and magnetic survey planned by Aston Bay Holdings will be used to identify copper exploration targets and delineate regional and property structures and is expected to cover 5,000 kilometres. Further geological and structural mapping, trenching, rock and lake sediment sampling is planned under the direction of Dr Elizabeth Turner. These will also serve to expand the geophysical target determination.
Promising project with strong similarities to existing world-class copper deposits in Africa and Canada
The mineralisation at Epworth is similar to that encountered in the Central African Copper Belt deposits and at the Storm Copper Project being developed by Aston Bay in partnership with American West Metals. Previous assays have discovered chalcocite boulders at surface from previous owners that peak at 61.2% copper and 5,600 g/t silver. This historical data series totals 300 samples.
Recent grab samples conducted by Aston Bay Holdings returned over 37.8% copper, 27.4% zinc, 1,100 g/t silver, 3.0 g/t gold and 1,700 ppm cobalt. Community meetings are also planned at Kugluktuk to familiarise the local community with the activities planned at Epworth.
Aston Bay Holdings will follow a classic exploration approach to the Epworth exploration programme
“We are excited to begin work on our Epworth property,” said Thomas Ullrich, CEO of Aston Bay Holdings at the launch of the new summer programme. “We have over C$4.1 million in proceeds from our recently completed financing and are finalising a licence agreement with our partner American West on our Storm property that will allocate an additional C$3.425 million to Aston Bay.”
The guideline for the development of the Epworth project is based on the classic approach for new exploration projects. It starts with surface discoveries that indicate high-grade mineralisation in the ground. These are then followed up with geological mapping and geophysical surveys. As soon as the specific drilling targets have been determined, the focus can be turned to the depths. Not only have the large copper deposits in Central Africa been discovered in this way, but Aston Bay Holdings will also follow this approach when developing its Epworth project.
With drilling permits in place and funding secured, the company is now ready to embark on the path to discovering new, attractive copper deposits.
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